June 28, 2017: Markets opened higher Wednesday with the DJIA hitting a triple-digit gain early in the session and maintaining it throughout the day. Only the utilities sector is showing a loss for the day as financial and tech stocks are the leading gainers. WTI crude oil for August delivery settled at $44.74 a barrel, up 1.1% on the day following a smaller-than-expected addition to the nation’s crude oil stockpile. August gold added 0.2% on the day to settle at $1,249.10. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.69% for the day, the S&P 500 traded up 0.89%, and the Nasdaq Composite traded up 1.40%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was Caterpillar Inc. (NYSE: CAT) which traded up 2.46% at $106.49. The stock’s 52-week range is $72.79 to $108.18. Volume was about 40% below the daily average of around 5 million shares. The company had no specific news and is likely reacting (as usual) to the uptick in crude prices.
JPMorgan Chase & Co. (NYSE: JPM) traded up 2.21% at $90.00. The stock’s 52-week range is $58.76 to $93.98. Volume was about 10% below the daily average of around 14.6 million shares. The big bank had no specific news Wednesday.
Intel Corp. (NASDAQ: INTC) traded up 1.60% at $34.19. The stock’s 52-week range is $31.31 to $38.45. Volume was around 30% below the daily average of about 21.5 million shares. The company had no specific news Wednesday.
The Walt Disney Co. (NYSE: DIS) traded up 1.39% at $106.87. The stock’s 52-week range is $90.32 to $116.10. Volume was about equal to the daily average of around 6.8 million. The company settled a lawsuit against its ABC-TV division related to a $1 billion lawsuit in a defamation case over the use of the phrase “pink slime” to refer to certain processed beef products. Details were not revealed.
Of the Dow stocks, 24 are on track to close higher Wednesday and 6 are set to close lower.
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