August 5, 2016: Markets opened higher Friday following the report of 255,000 new U.S. jobs added in July. The financial and tech sectors led the gainers today, the former likely on improved chances of an interest rate hike later this year, and the latter on the hope that all those new workers will need tech gear of all sorts. WTI crude oil for September delivery settled at $41.80 a barrel, down 0.3% for the day but up 0.5% for the week. December gold closed down 1.7% on the day to settle at $1,344.40, the biggest drop in more than 2 months and leading to the yellow metal losing about 1% for the week. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.96% for the day, the S&P 500 traded up 0.79%, and the Nasdaq Composite traded up 1.03%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was Merck & Co. Inc. (NYSE: MRK) which traded up 9.42% at $63.29. The stock’s 52-week range is $45.69 to $63.57, and the high was posted this afternoon. Volume was more than 7 times the daily average of around 8.7 million shares. Competitor Bristol-Myers Squibb’s lung cancer drug failed it latest clinical trial, breathing life in Merck stock.
JPMorgan Chase & Co. (NYSE: JPM) traded up 2.73% at $66.32. The stock’s 52-week range is $50.07 to $69.03. Volume was about 10% below the daily average of around 15 million shares. The big bank had no specific news Friday.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 2.51% at $162.01. The stock’s 52-week range is $138.20 to $206.64. Volume was about a third below the daily average of around 3.3 million shares. Goldman has reportedly received requests from New York state regulators related to its role in the 1MDB bond scandal.
[nativounit]
American Express Co. (NYSE: AXP) traded up 2.42% at $65.49. The stock’s 52-week range is $50.27 to $81.66. Trading volume was about 20% below the daily average of around 4.8 million. The company had no specific news Friday.
Of the 30 Dow index stocks 27 are on track to close higher Friday and just 3 are set to close lower.
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks