Investing

Intel, Pfizer Drive DJIA Surge Higher on Friday

Paul Ausick

Published: January 26, 2018 4:01 pm

Last Updated: January 12, 2020 4:03 am

January 26, 2018: Markets opened higher again Friday even after the preliminary report on fourth-quarter GDP came in weaker than expected at 2.6%. Both the DJIA and the S&P 500 posted record highs today. The dollar recovered strength following a TV interview with Treasury Secretary Mnuchin and a Davos speech by President Trump.

WTI crude oil for March delivery settled at $66.14 a barrel, up 1% for the day and up a sharp 4.5% for the week. February gold dropped about 0.8% on the day to settle at $1,352.10, but up 1.4% for the week. Equities were headed for a solidly higher close shortly before the bell as the DJIA traded up 0.72% for the day, the S&P 500 traded up 1.02%, and the Nasdaq Composite traded up 1.09%.

Bitcoin futures for January delivery traded at $10,945, down about 2.7% on the CME after opening at $11,355 this morning. The digital currency’s trading range for the day was $10,345 to $11,570.

The DJIA stock posting the largest daily percentage gain ahead of the close Friday was
Intel Corp. (NYSE: INTC) which traded up 9.98% at $49.82. The stock’s 52-week range is $33.23 to $49.95 and the high was posted today. Volume was more than double the daily average of around 33.3 million. The company reported a solid fourth-quarter last night, and affirmed that it expects little damage from the chip flaws that were revealed earlier this month.

Pfizer Inc. (NYSE: PFE) traded up 4.86% at $39.04. The stock’s 52-week range is $30.93 to $39.09, a new 52-week high posted this afternoon. Volume was nearly 35 million shares, more than double the daily average of around 16 million shares. The company had no specific news Friday.

3M Company (NYSE: MMM) traded up 2.33% at $258.23. The stock’s 52-week range is $173.55 to $259.77, a new 52-week high posted this morning. Volume was about 50% above the daily average of around 2 million shares. The company posted solid earnings Thursday morning and is taking another bow today.

The Walt Disney Co. (NYSE: DIS) traded up 1.49% at $112.20. The stock’s 52-week range is $96.20 to $116.10. Volume was about 25% below the daily average of around 8.6 million shares. The company had no specific news Friday.

Of the Dow stocks, 22 are on track to close higher Friday and 8 are set to close lower.