October 26, 2016: Markets opened lower Wednesday after Apple reported disappointing earnings Tuesday night and both Coca-Cola and Boeing posted undistinguished results this morning. After the bell, we’ll hear from a gaggle of gold miners and that darling of momentum stocks, Tesla Motors. The real-estate sector is Wednesday’s big loser while financials and utilities have posted the best gains. WTI crude oil for December delivery settled at $49.18 a barrel, down 1.6% following a bullish inventory report. December gold dropped 0.6% on the day to settle at $1,266.60. Equities were headed for a mixed close before the bell as the DJIA traded up 0.25% for the day, the S&P 500 traded down 0.12%, and the Nasdaq Composite traded down 0.56%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Boeing Co. (NYSE: BA) which traded up 5.01% at $145.99. The stock’s 52-week range is $102.10 to $150.59. Trading volume was nearly 4 times the daily average of around 3.1 million. The aerospace giant beat estimates this morning and raised its per share guidance for the year.
Nike Inc. (NYSE: NKE) traded up 1.98% at $52.06. The stock’s 52-week range is $50.71 to $68.19. Volume was more than 10% above the daily average of around 9 million shares. The company had no specific news Wednesday.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 0.97% at $177.25. The stock’s 52-week range is $138.20 to $199.90. Volume of about 1.9 million was about 30% below the daily average of around 2.5 million shares. The investment bank had now specific news.
[nativounit]
The Walt Disney Co. (NYSE: DIS) traded up 0.77% at $93.46. The stock’s 52-week range is $86.25 to $120.65. Volume was about 30% below the daily average of around 7.5 million shares. Just guessing here, but AT&T’s big bet on a content provider may have encouraged investors to re-evaluate Disney’s position.
Of the 30 Dow index stocks 16 are on track to close higher Wednesday and 14 are set to close lower.
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks