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.
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: are you ahead, or behind on your retirement goals?
Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With SmartAsset’s free tool, you can connect with vetted financial advisors in minutes.
Why wait? Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.