January 25, 2017: Markets opened higher Wednesday with the DJIA finally breaking through the 20,000 barrier. The Trump rally got its second (third?) wind and pushed 8 of 11 S&P sectors higher today, led by financials and tech. WTI crude oil for March delivery settled at $52.75 a barrel, down about 0.8% on the day. February gold dropped 1.1% on the day to settle at $1,197.80. Equities were headed for a higher close close shortly before the bell as the DJIA traded up 0.79% for the day, the S&P 500 traded up 0.82%, and the Nasdaq Composite traded up 0.99%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Boeing Co. (NYSE: BA) which traded up 4.42% at $167.61. The stock’s 52-week range is $102.10 to $168.64, and the high was posted today. Volume was about 75% higher than the daily average of around 3.5 million shares. The company reported earnings this morning that were good enough for investors.
Caterpillar Inc. (NYSE: CAT) traded up 1.91% at $98.08. The stock’s 52-week range is $57.46 to $98.56, a new high set this afternoon. Volume was about 25% higher than the daily average of around 4.9 million shares. The company’s December retail sales were better than expected.
Apple Inc. (NASDAQ: AAPL) traded up 1.64% at $121.93. The stock’s 52-week range is $89.47 to $122.10, another new 52-week high posted Wednesday. Volume was about 10% below the daily average of around 31 million shares. The company had no specific news Tuesday, but is reported to be nearing a deal to manufacture products in India. No one tell the President.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.39% at $85.89. The stock’s 52-week range is $52.50 to $88.17. Volume was 30% below the daily average of around 18 million shares. The bank won a deal with BlackRock to maintain $1 trillion of the private equity firm’s custody assets.
Of the Dow 30 stocks, 23 are on track to close higher Wednesday and 7 are set to close lower.
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