May 20, 2016: Markets opened higher Friday as the dollar started out strong and oil started out weak. The dollar eventually ended up with a small increase, but the June crude contract dropped about 1% on its last day of trading. The tech and consumer discretionary sectors led the gainers today, while consumer staples and telecom stocks were the only sectors on track for a daily loss. WTI crude oil for June delivery settled at $47.75 a barrel, down 0.9% for the day but up 3.3% for the week. June gold dropped 0.2% on the day to settle at $1,252.90 and a loss of 1.6% for the week. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 0.29% for the day, the S&P 500 traded up 0.51%, and the Nasdaq Composite traded up 1.12.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was American Express Co. (NYSE: AXP) which traded up 1.82% at $63.88. The stock’s 52-week range is $50.27 to $81.92. Volume was about 20% below the daily average of around 3.6 million shares. The credit card issuer had no news Friday.
Intel Corp. (NASDAQ: INTC) traded up 1.81% at $30.17 The stock’s 52-week range is $24.87 to $35.59. Trading volume was about 20 % below the daily average of around 22.5 million. The semiconductor maker had no specific news.
The Travelers Companies Inc. (NYSE: TRV) traded up 1.56% at $111.82. The stock’s 52-week range is $95.21 to $118.28. Trading volume was about 15% lower than the daily average of around 1.6 million shares. The insurance company had no specific news today either.
International Business Machines Corp. (NYSE: IBM) traded up 1.50% at $147.10. The stock’s 52-week range is $116.90 to $173.78. Volume was about 30% below the daily average of around 4.4 million shares. The tech giant had no specific news Friday.
Of the Dow 30 stocks 21 are set to close higher Friday and 9 are on track to close lower.
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