December 9, 2016: Markets opened higher again Friday with little support from either economic data or corporate earnings. One big positive came from the University of Michigan’s consumer sentiment report that posted a 4.5% jump to 98, just a tenth below the highest reading since 2004. Consumer staples and healthcare poste the biggest gains with materials and real estate lagging. WTI crude oil for January delivery settled at $51.50 a barrel, up 1.3% on the day and down about 0.4% for the week. February gold dropped 0.9% on the day to settle at $1,161.90, down about 1.1% for the week. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.64% for the day, the S&P 500 traded up 0.52%, and the Nasdaq Composite traded up 0.41%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was Pfizer Inc. (NYSE: PFE) which traded up 2.60% at $31.74. The stock’s 52-week range is $28.25 to $37.39. Volume was approaching near the daily average of around 25 million shares. The drug company had no specific news today.
The Coca-Cola Co. (NYSE: KO) traded up 2.38% at $41.95. The stock’s 52-week range is $39.88 to $47.13. Volume was about a 80% above the daily average of around 13 million shares. The company is getting a new CEO on May 1, 2017, and the current CEO will remain as chairman.
Merck & Co. Inc. (NYSE: MRK) traded up 2.13% at $61.40. The stock’s 52-week range is $47.97 to $65.46. Volume was about 40% below the daily average of around 11.3 million shares. Another drug maker getting a dose of good medicine Friday.
Apple Incl. (NASDAQ: AAPL) traded up 1.84% at $114.18. The stock’s 52-week range is $89.47 to $118.69. Trading volume was about 20% below the daily average of around 37 million. The company had no specific news Friday.
Of the Dow 30 stocks 25 are on track to close higher Friday and 5 are set to close lower.
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