August 7, 2017: Markets opened higher Monday but trading was lackluster for most of the day as economic news was almost totally absent and the morning earnings reports did not include any huge names. Among the sectors, consumer staples and tech were the best performers while energy was the laggard. WTI crude oil for September delivery settled at $49.39 a barrel, down 0.4 for the day. December gold added 10 cents on the day to settle at $1,264.70. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.08%for the day, the S&P 500 traded up 0.14%, and the Nasdaq Composite traded up 0.49%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was Apple Inc. (NASDAQ: AAPL) which traded up 1.59% at $158.87. The stock’s 52-week range is $102.53 to $159.75. Volume was about 40% below the daily average of about 27.6 million shares. The company had no specific news, but as the time nears for a new iPhone announcement, the share price is likely to see more growth as excitement builds.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.33% at $232.85. The stock’s 52-week range is $157.77 to $255.15. Volume was less than 10% below the daily average of around 3.3 million. The investment bank had no specific news.
Wal-Mart Stores Inc. (NYSE: WMT) traded up 1.16% at $81.41. The stock’s 52-week range is $65.28 to $81.76. Volume was about 25% below the daily average of around 9.1 million shares. The company had no specific news Monday.
The Boeing Co. (NYSE: BA) traded up 1.02% at $240.13. The stock’s 52-week range is $126.31 to $246.49. Volume was about 15% below the daily average of around 3.4 million shares. The company has reportedly signed a contract with the U.S. Air Force for the two 747-8s that will become the new Presidential Air Force One fleet.
Of the Dow stocks, 14 are on track to close higher Monday and 16 are set to close lower. Three of today’s four top performing stocks account for nearly 20% of the DJIA price-weighted index.
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