July 11, 2016: Markets opened higher again Monday with the S&P 500 index putting in a new all-time intraday high. Last Friday’s U.S. non-farm payrolls report pushed Asian stocks higher and the effects carried over to U.S. markets at the opening bell this morning. The counter-cyclical telecom and utilities sectors were the only losers. WTI crude oil for August delivery settled at $44.76 a barrel, down 1.4% for the day. August gold dropped 0.1% on the day to settle at $1,356.60. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.46% for the day, the S&P 500 traded up 0.36%, and the Nasdaq Composite traded up 0.68%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 1.54% at $152.10. The stock’s 52-week range is $102.10 to $150.59. Trading volume was about 25% below the daily average of around 4.3 million shares. The started the week with some $7.5 billion in new deals at the Farnborough Air Show.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.20% at $152.20. The stock’s 52-week range is $138.20 to $214.6. Trading volume was about 33% below the daily average of around 3.3million. The investment bank said this morning that it will cut 55 jobs in New York.
American Express Co. (NYSE: AXP) traded up 1.17% at $62.21. The stock’s 52-week range is $50.27 to $81.66. Volume was about 40% below the daily average of around 5 million shares. The financial services company had no specific news.
Intel Corp. (NASDAQ: INTC) traded up 1.09% at $34.37. The stock’s 52-week range is $24.87 to $35.59. Volume was about 15% below the daily average of around 22.6 million shares. The chipmaking giant had no specific news Monday.
Of the 30 Dow stocks 29 are on track to close higher Monday and just UnitedHealth is set close lower..
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