May 7, 2018: Markets opened higher Monday but gains were relatively modest and by the late afternoon, more modest still. A proposed takeover of Athenahealth by private equity firm Elliott Management was today’s big deal. Traders are waiting to see what Trump does about re-imposing sanctions on Iran, a move virtually guaranteed to lift the price of oil even higher.
WTI crude oil for June delivery settled at $70.73 a barrel, up 1.5% for the day. Prices at the pump were slightly lower this week however. June gold dipped less than 0.1% on the day to settle at $1,314.10. Equities were headed for a higher close about 10 minutes before the bell as the Dow traded up 0.36% for the day, the S&P 500 traded up 0.33%, and the Nasdaq Composite traded up 0.77%.
Bitcoin futures (XBTK8) for May delivery traded at $9,430, down about 2.8% on the CBOE after opening at $9,620 this morning. The trading range today was $9,175 to $9,680.
The Dow stock posting the largest daily percentage gain ahead of the close Monday was Caterpillar Inc. (NYSE: CAT) which traded up 2.28% at $149.70 in a 52-week range of $97.74 to $173.24. Volume was about equal to the daily average of 5.8 million. The company had no specific news..
Nike Inc. (NYSE: NKE)) traded up 1.57% at $69.17. The stock’s 52-week range is $50.35 to $70.25. Volume was about half the daily average of around 7.8 million shares. The company had no specific news Monday.
The Boeing Col (NYSE: BA) traded up 1.63% at $339.86. The stock’s 52-week range is $175.47 to $371.90. Volume was about 30% below the daily average of around 5.6 million. The company had no specific news.
The Walt Disney Co. (NYSE: DIS) traded up 1.13% at $102.29. The stock’s 52-week range is $96.20 to $113.19. Volume was about 15% below the daily average of around 8 million. The company had no specific news, but its “Avengers: Infinity Wars” film broke box office records over the weekend.
Of the Dow stocks, 17 are on track to close higher Monday and 13 are set to close lower.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
