July 15, 2016: Markets opened higher again Friday but trickled down to spend most of session trading right around the break-even line. That’s roughly inline with the U.S. economic data that was released: retail sales up more than expected; inflation about inline with expections; and industrial production up a little more than expected. Basic materials was the top sector gainer while consumer discretionary and energy stocks led the decliners. WTI crude oil for August delivery settled at $45.95 a barrel, up 0.6% for the day to close up 1.2% for the week. August gold dropped 0.4% on the day to settle at $1327.40, down 2.3% for the week.Equities were headed for a mixed close shortly before the bell as the DJIA traded up 0.05% for the day, the S&P 500 traded down 0.11%, and the Nasdaq Composite traded down 0.11%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was Caterpillar Inc. (NYSE: CAT) which traded up 0.91% at $80.79. The stock’s 52-week range is $56.36 to $83.65. Trading volume was about 35% below the daily average of around 5.2 million. The heavy equipment maker had no specific news.
The Boeing Co. (NYSE: BA) traded up 0.67% at $132.43. The stock’s 52-week range is $102.10 to $150.59. Volume was less than half the daily average of around 4.3 million shares. The company took orders and commitments valued at around $35 billion at Farnborough this week.
General Electric Co. (NYSE: GE) traded up 0.64% at $32.84. The stock’s 52-week range is $19.37 to $32.95. Trading volume was about 15% below the daily average of nearly 34 million shares. The industrial giant had no specific news, but will share in Boeing’s success at the Farnborough Air Show when it begins filling orders for new engines.
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E.I. du Pont de Nemours and Co. (NYSE: DD) traded up 0.39% at $67.12. The stock’s 52-week range is $47.11 to $75.72. Volume was half the daily average of around 3.3 million shares. The chemical giant had no specific news Friday.
Of the 30 Dow index stocks 14 are on track to close higher Friday and 11 are set close lower.
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