July 8, 2016: Markets opened higher Friday following a soaring non-farm payrolls report. Early indications for falling equities prices were blown away by the report that 278,000 new jobs were created in June. Leading the charge higher were the industrials and financials sectors, and all 10 sectors are set to close the week with a daily gain of 1% or more. WTI crude oil for August delivery settled at $45.41 a barrel, up just 0.6% for the day and down more than 7% for the week. August gold dropped 0.3% on the day to settle at $1,358.40. Equities were headed for a higher close shortly before the bell as the DJIA traded up 1.35% for the day, the S&P 500 traded up 1.47%, and the Nasdaq Composite traded up 1.59%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was Caterpillar Inc. (NYSE: CAT) which traded up 3.01% at $77.31. The stock’s 52-week range is $56.36 to $84.89. Trading volume was about 20% below the daily average of around 5.3 million shares. The company had no specific news Friday, but the rising tide lifted all boats.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded up 2.87% at $63.71. The stock’s 52-week range is $47.11 to $75.72. Volume was about 70% above the daily average of around 3.1 million shares. A smaller-than-expected jury award of punitive damages against the company was announced this morning.
American Express Co. (NYSE: AXP) traded up 2.77% at $61.47. The stock’s 52-week range is $50.27 to $81.66. Volume was about equal to the daily average of around 5 million shares. The financial services company had no specific news Friday.
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The Home Depot Inc. (NYSE: HD) traded up 2.23% at $134.09. The stock’s 52-week range is $92.17 to $137.82. Trading volume was about 25% below the daily average of around 4.9 million. The company had no specific news.
All 30 Dow stocks are set to close higher Friday.
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