April 16, 2018: Markets opened higher for a third straight session Monday following a lowering of tensions related to Syria and added buoyancy over an earnings season that is just getting underway. Analysts at FactSet say earnings at S&P 500 companies are expected to post 17.3% year-over-year earnings growth in the first quarter.
WTI crude oil for May delivery settled at $666.22 a barrel, down 1.7% for the day. The U.S. EIA forecast another month of big growth in production in May. June gold added about 0.2% on the day to settle at $1,350.70. Equities were headed for a higher close about 10 minutes before the bell as the Dow traded up 1.02% for the day, the S&P 500 traded up 0.91%, and the Nasdaq Composite traded up 0.78%.
Bitcoin futures (XBTJ8) for April delivery traded at $8,020, down about 0.9% on the CBOE after opening at $8,250 this morning. The digital currency’s trading range for the day was $7,890 to $8,440.
The Dow stock posting the largest daily percentage gain ahead of the close Monday was UnitedHealth Group Inc. (NYSE: UNH) which traded up 3.19% at $231.43. The stock’s 52-week range is $164.96 to $250.79. Volume was about 20% lower than the daily average of around 4 million shares. The company had no specific news, but is set to report earnings before markets open Tuesday morning.
Merck & Co Inc. (NYSE: MRK) traded up 2.60% at $58.65. The stock’s 52-week range is $52.83 to $66.41. Volume was about 45% above the daily average of around 13.3 million. The company’s lung cancer drug is distancing itself from contenders.
Verizon Communications Inc. (NYSE: VZ) traded up 1.57% at $48.41 in a 52-week range of $42.80 to $54.77. Volume of about 7 million shares was about 55% below the daily average. The company has upped its stake in Helios & Matheson (owners of MoviePass) to 9.3%.
Caterpillar Inc. (NYSE: CAT) traded up 1.50% at $152.50. The stock’s 52-week range is $92.98 to $173.24. Volume was about 60% below the daily average of around 6.3 million. The company had no specific news Monday.
Of the Dow stocks, 27 are on track to close higher Monday and just 3 are set to close lower.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
