October 14, 2016: Markets opened higher Friday after Thursday’s late in-the-day turn higher and decent earnings reports from three of the largest U.S. banks. The report on consumer spending indicated consumers are once again parting with their cash. The financial sector led Friday’s gainers with healthcare acting as the big drag. WTI crude oil for November delivery settled at $50.35 a barrel, down 0.2% for the day but up 1.1% for the week. December gold closed down 0.2% on the day to settle at $1,255.50 and still managed to hang onto a 0.3% gain for the week. Equities were headed for a higher close before the bell as the DJIA traded up by 0.38% for the day, the S&P 500 traded up 0.22%, and the Nasdaq Composite traded up 0.16%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 2.09% at $170.92. The stock’s 52-week range is $138.20 to $199.90. Trading volume was about 40% above the daily average of around 2.6 million. The investment bank dodged a $1 billion lawsuit loss in Britain and peer big banks reported decent earnings today, boosting hopes for Goldman’s results due next week..
Intel Corp. (NASDAQ: INTC) traded up 1.42% at $37.50. The stock’s 52-week range is $27.68 to $38.36. Volume was about 30% below the daily average of around 21.5 million shares. The company had no specific news, but like Goldman is set to report third-quarter results next week.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded up 1.48% at $69.15. The stock’s 52-week range is $50.71 to $75.72. Volume was about 50% below the daily average of around 2.5 million shares. The company had no specific news Friday.
Microsoft Corp. (NASDAQ: MSFT) traded up 1.09% at $57.54. The stock’s 52-week range is $46.90 to $58.70. Volume was about 20% below the daily average of around 25 million shares. The software giant had no specific news.
Of the 30 Dow index stocks 21 are on track to close higher Friday and 9 are set to close lower.
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