August 23, 2016: Markets opened higher Tuesday mainly on the strength of the better-than-expected Census Bureau report on new home sales and a solid showing by European markets. Basic materials was the day’s best performing sector while consumer staples performed worst. WTI crude oil for October delivery settled at $48.10 a barrel, up 1.5% for the day. December gold closed up 0.2% on the day to settle at $1,346.10. Equities were headed for a higher close shortly before the bell as the DJIA traded higher by 0.11% for the day, the S&P 500 traded up 0.22%, and the Nasdaq Composite traded up 0.33%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Nike Inc. (NYSE: NKE) which traded up 1.64% at $59.62. The stock’s 52-week range is $51.48 to $68.19. Trading volume was about 35% lower than the daily average of around 10.4 million. The company had no specific news Tuesday.
Cisco Systems Inc. (NASDAQ: CSCO) traded up 1.08% at $30.96. The stock’s 52-week range is $22.46 to $31.25. Volume was about 25% below the daily average of around 23 million shares. The networking giant had no specific news, but stock was upgraded Monday after last week’s strong earnings report.
E. I. du Pont de Nemours and Company (NYSE: DD) traded up 0.67% at $70.42. The stock’s 52-week range is $47.11 to $75.72. Volume was about 25% above the daily average of around 3.1 million shares. The company had no specific news Tuesday.
Caterpillar Inc. (NYSE: CAT) traded up 0.45% at $83.97. The stock’s 52-week range is $56.36 to $84.73. Volume was about 40% below the daily average of around 4.5 million shares. The heavy equipment maker had no specific news.
Of the 30 Dow index stocks 19 are on track to close higher Tuesday and 11 are set to close lower.
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