June 20, 2016: Markets opened higher Monday as sentiment waned that the U.K would wave goodbye to the European Union. Utilities was the only sector on track to post a loss today, while the big gainers are the energy and consumer discretionary sectors. Crude oil prices got some help from a softer dollar as well. WTI crude oil for July delivery settled at $49.37 a barrel, up 2.9% for the day. August gold slipped 0.2% on the day to settle at $1,292.10. Equities were headed for a higher close shortly before the bell as the DJIA traded up 1.19% for the day, the S&P 500 traded down up 1.05%, and the Nasdaq Composite traded up 1.32%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 2.43% at $132.97. The stock’s 52-week range is $102.10 to $150.59. Volume was about a 30% below the daily average of around 4.5 million shares. Russian cargo carrier confirmed an order for 10 747s this morning..
3M Company Inc. (NYSE: MMM) traded up 1.59% at $171.63. The stock’s 52-week range is $134.00 to $172.80. Volume was about 15% below the daily average of around 2 million shares. The company had no specific news Monday.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.58% at $147.94. The stock’s 52-week range is $139.05 to $218.77. Trading volume was about 15% below the daily average of around 3.2 million. The company had no specific news.
Nike Inc. (NYSE: NKE) traded up 1.41% at $54.47. The stock’s 52-week range is $47.25 to $68.19. Trading volume was about 30% lower than the daily average of around 10 million shares. The company had no specific news, but Nike’s LeBron James led the Cleveland Cavaliers to the NBA championship on Sunday, and investors are expecting more sneaker sales.
Of the Dow 30 stocks 29 are set to close higher Monday and just 1 (Cisco) is on track to close lower.
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