December 9, 2013: Markets opened higher again Monday morning mostly because traders couldn’t get enough of Friday’s action. All three major indexes remained in positive territory all day, but by closing time the gains had diminished to just barely above the flat line. The DJIA closed up a scant 0.03% and the S&P 500 and the Nasdaq Composite closed up 0.18% and 0.15%, respectively. As a result today’s DJIA movers made mostly small moves.
Among heavily traded DJIA stocks, Intel Corp. (NASDAQ: INTC) traded about 7 million shares below its daily average today, but we think there is value and growth in the world’s largest chip maker. Shares traded over $25 for a while today before slipping back a bit to close at $24.93, up 0.44%, in a 52-week range of $19.98 to $25.98.
Another DJIA stock leading the way today is General Electric Co. (NYSE: GE), although trading was lighter than the daily average in the conglomerate’s stock by about 8 million shares. The stock traded within $0.17 of its yearly high and closed up 0.92% at $27.19 in a 52-week range of $20.26 to $27.50.
Chevron Corp. (NYSE: CVX) opened flat this morning and peaked in mid-afternoon before sliding gack a little. Chevron has been the favorite big oil stock for about two years now and even though the stock is trading near its yearly high, sparse demand for equities today must have looked like a buying opportunity. Shares for this Dow 30 stock closed up 0.87% at $123.36 in a 52-week range of $105.75 to $127.83.
A fourth DJIA component, McDonald’s Corp. (NYSE: MCD) weighed on the DJIA today, trading down on a weak same-store sales report for November. Even Mickey D’s stock experienced lighter volume today, trading only about 80% of its daily average of 5.1 million shares. The stock closed at $95.70 on Monday, down 1.14% in a 52-week range of $86.81 to $103.70.