February 11, 2014: Markets opened higher on Tuesday anticipating that new Fed Chair Janet Yellen would not announce any significant diversion from current Fed policy. And in another expected development, House Republicans have indicated that they will allow a clean vote on raising the U.S. debt limit, a decision that virtually any threat of a default on the nation’s debt. The DJIA closed up 1.20%, the S&P 500 closed up 1.10%, and the Nasdaq Composite closed up 1.03%.
Today’s big gainer among the Dow 30 stocks was The Boeing Co. (NYSE: BA). Shares closed up 2.29% at $130.07 in a 52-week range of $74.27 to $144.57. The company and its main rival, Airbus, have both forecast deliveries of new aircraft between now and 2032 at just under $2 trillion. The two companies are wooing customers at the Singapore Airshow this week. Boeing’s volume today was about 40% higher than the daily average of around 5 million shares.
Among heavily traded Nasdaq stocks Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) posted a gain of 7.65% to close at $119.40 after posting a new 52-week high of $120.24. The stock’s 52-week low is $42.25. The company’s deal with The Coca-Cola Co. (NYSE: KO) continues to boost. Trading volume was nearly double the daily average of around 4 million shares traded.
Chevron Corp. (NYSE: CVX) rose 1.63% for the day to close at $113.51, in a 52-week range of $109.27 to $127.83. WTI prices closed above $100 a barrel yesterday and traded above that level for most of the day today before closing at around $99.90. Share volume was about 7% below the daily average of around 6 million shares traded.
Dow component Goldman Sachs Group Inc. (NYSE: GS) issued a bullish note on Alcoa Inc. (NYSE: AA) today. Alcoa’s shares got a nice boost, but so did Goldman, which owns warehouses where aluminum inventories are alleged to have been held back from delivery. Goldman’s shares closed up 1.99% at $164.21 in a 52-week range of $137.29 to $181.13. Volume was about 25% above the daily average of around 3 million shares.
Of the Dow 30 stocks 29 closed higher today while only Cisco Systems Inc. (NASDAQ: CSCO) closed lower.