December 8, 2016: Markets opened higher again Thursday after another record-setting day in U.S. markets. Financial and basic materials stocks are trading highest among the 11 S&P sectors while industrials and consumer staples lag. Financials have been on a tear, partly because everyone expects a Fed policy rate hike next week. Is it already priced in? WTI crude oil for January delivery settled at $50.84 a barrel, up 2.3% on the day. February gold dropped 0.4% on the day to settle at $1,172.40. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.34% for the day, the S&P 500 traded up 0.20%, and the Nasdaq Composite traded up 0.36%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 2.43% at $241.29. The stock’s 52-week range is $138.20 to $242.42, and the high was posted this afternoon. Volume was approaching double the daily average of around 3.4 million shares. The investment bank had no specific news today.
The Walt Disney Co. (NYSE: DIS) traded up 2.41% at $103.65. The stock’s 52-week range is $86.25 to $114.75. Volume was about a 40% above the daily average of around 8 million shares. The stock traded ex-dividend Thursday.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded up 1.26% at $74.75. The stock’s 52-week range is $50.71 to $74.97, and the high was posted earlier Thursday. Volume was about 30% below the daily average of around 2.9 million shares. The company had no specific news Thursday.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.43% at $85.27. The stock’s 52-week range is $52.50 to $85.50, also a new 52-week high. Trading volume was about equal to the daily average of around 3.6 million. Just how much is a quarter-point interest rate hike worth?
Of the Dow 30 stocks 15 are on track to close higher Thursday and 15 are set to close lower.
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