July 16, 2018: Markets opened slightly higher again Monday but the modest gains couldn’t be built upon. Only the Dow looks like it may escape a loss today, and even then, not by much. Geopolitics did not appear to figure in, so that leaves mostly earnings to give the markets direction. The financial services sector was the day’s best performer and the energy sector was the worst.
WTI crude oil for August delivery settled at $68.06 a barrel, down about 4.2% and the lowest settlement price in nearly a month. August gold settled down 0.1% at $1,239.70. Equities were heading for a mixed close about 10 minutes before the bell as the Dow traded up 0.10% for the day, the S&P 500 traded down 0.14%, and the Nasdaq Composite traded down 0.30%.
Bitcoin futures (XBTN8) for July delivery traded at $6,665, up about 7.7% on the CBOE after opening at $6,360 this morning. The trading range today was $6,325 to $6,705.
The Dow stock posting the largest daily percentage gain ahead of the close Monday was JPMorgan Chase & Co. (NYSE: JPM) which traded up 3.78% at $110.39. The 52-range on the stock is $88.08 to $119.33. Volume of around 18 million was about 15% above the daily average.
Cisco Systems Inc. (NASDAQ: CSCO) traded up 1.82% at $42.54. The stock’s 52-week range is $30.36 to $46.37. Volume was about 15% below the daily average of around 22.7 million. The company’s bid to acquire assets from Fox got a nod today from institutional investor adviser Glass Lewis.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.54% at $229.89. The stock’s 52-week range is $214.64 to $275.31. Volume was also about 30% below the daily average of around 3 million shares.
The Boeing Co. (NYSE: BA) traded up 1.33% at $355.46 in a 52-week range of $207.53 to $374.48. Volume was more about 30% below the daily average of around 2 million shares. Boeing is taking orders at the massive Farnborough Airshow near London this week.
Of the Dow stocks, 11 were set to close higher Monday and 19were on track to close lower.
24/7 Wall St.The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
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.