May 13, 2014: Markets opened higher on Monday although it didn’t take the Nasdaq long to dive. The S&P 500 posted an all-time high this morning before pulling back, and there were also some nice gains among the Dow 30. Shortly before the closing bell the DJIA traded up 0.15%, the S&P 500 was up 0.06%, and the Nasdaq Composite traded down 0.24%.
3M Co. (NYSE: MMM) posted an all-time high of $143.37 early this morning before fading later in the day to head for a lower close, down 0.19% at $142.55. There was no news from the company but that didn’t stop investors from taking the plunge, at least in the morning. The stock’s 52-week range is $107.15 to $143.37. Share volume was about half the daily average of around 2.7 million shares traded.
Another stock making an all-time high today was The Travelers Companies Inc. (NYSE: TRV) which traded up 0.93% at $92.91 in a new 52-week range of $22.62 to $93.06, the stock’s new all-time high. Volume was about 30% below the daily average of around 2.4 million shares. As with 3M, there was no news on the company today, and unlike 3M the shares traded in the green all day.
McDonald’s Corp. (NYSE: MCD) gained 0.59% today and traded at $103.48. The stock’s 52-week range is $92.22 to a new 52-week high of $103.62. Share volume was about 35% lower than the daily average of around 5 million shares traded. UBS yesterday raised its price target on the stock to $120.
Microsoft Corp. (NASDAQ: MSFT) traded up 1.03% today at $40.38 in a 52-week range of $30.84 to $41.66. The company announced that it would drop the price of its Xbox One game console. Volume was about 30% below the daily average of around 35 million shares.
Another DJIA stock that came within a whisper of its 52-week high was Caterpillar Inc. (NYSE: CAT), up 0.89% today at $107.14 in a 52-week range of $80.86 to $107.40. A Morgan Stanley analyst warned that the decline in mining equipment sales may not be made up by better sales in construction and oil & gas equipment, but that didn’t seem to affect buyers. Volume was about 35% below the daily average of around 5.2 million shares.
Of the Dow 30 stocks 19 looked to close higher today while 10 were on their way to a lower finish and looks to close unchanged.