December 13, 2016: Markets opened higher Tuesday as traders await the FOMC meeting announcement due Wednesday afternoon. The tech and energy sectors posted the largest gains Tuesday with basic materials stocks lagging. WTI crude oil for January delivery settled at $52.98 a barrel, up 0.3% on the day. February gold dropped 0.6% on the day to settle at $1,159.00, the lowest finish since February. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.62% for the day, the S&P 500 traded up 0.78%, and the Nasdaq Composite traded up 1.13%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Intel Corp. (NASDAQ: INTC) which traded up 2.17% at $36.75. The stock’s 52-week range is $27.68 to $38.36. Volume was about 10% above the daily average of around 22 million shares. The company had no specific news.
Apple Inc. (NASDAQ: AAPL) traded up 2.10% at $115.68. The stock’s 52-week range is $89.47 to $118.69. Volume was about equal to the daily average of around 36.7 million shares. The company’s wireless AirPod earbuds are available for order as of Tuesday and will be in stores next week.
Exxon Mobil Corp. (NYSE: XOM) traded up 2.06% at $92.86. The stock’s 52-week range is $71.55 to $95.55. Trading volume was about 30% above the daily average of around 11 million. The company’s CEO, Rex Tillerson, was nominated by President-elect Donald Trump to become the next U.S. Secretary of State.
International Business Machines Corp. (NYSE: IBM) traded up 1.71% at $168.32. The stock’s 52-week range is $116.90 to $169.95, a new posted earlier this afternoon. Volume was about 25% higher than the daily average of around 3.6 million shares. Credit Suisse reiterated its Underperform rating on the stock with a $110 price target.
Of the Dow 30 stocks 23 are on track to close higher Tuesday and 7 are set to close lower.
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