June 21, 2016: Markets opened higher again Tuesday ahead of Fed chairwoman Janet Yellen’s appearance on Capitol Hill. The odds continue to improve that British voters will not choose to leave the European Union and that weighed on gold prices in today’s trading. The energy and technology sectors led the DJIA higher Tuesday while industrials, basic materials, and consumer discretionary weighed on the indexes. Crude oil prices got some help from a softer dollar as well. WTI crude oil for July delivery settled at $48.85 a barrel, down 1.1% for the day. August gold slipped 1.5% on the day to settle at $1,272.50. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.22% for the day, the S&P 500 traded up 0.35%, and the Nasdaq Composite traded up 0.21%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Microsoft Corp. (NASDAQ: MSFT) which traded up 2.63% at $51.39. The stock’s 52-week range is $39.72 to $56.85. Volume was about a 10% below the daily average of around 29 million shares. The company had no specific news today.
Nike Inc. (NYSE: NKE) traded up 0.96% at $54.88. 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’s price target was lowered this morning at Jefferies from $74 to $67, but the firm maintained its Buy rating on the shares.
JPMorgan Chase & Co. (NYSE: JPM) traded up 0.93% at $62.95. The stock’s 52-week range is $50.07 to $70.61. Volume was about 40% below the daily average of around 14.6 million shares. The big bank had no specific news Monday.
Pfizer Inc. (NYSE: PFE) traded up 0.87% at $34.80. The stock’s 52-week range is $28.25 to $36.46. Trading volume was about 15% below the daily average of around 3.2 million. The pharmaceuticals company had no specific news.
Of the Dow 30 stocks 22 are set to close higher Tuesday and 8 are on track to close lower.
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