June 16, 2014: Markets opened lower on Monday but quickly bounced to positive territory. The IMF cut its forecast for U.S. GDP growth this year and investors will be cautious for the next couple of days as the FOMC meeting begins tomorrow. Shortly before the closing bell the DJIA traded up 0.25% for the day, the S&P 500 was up 0.03%, and the Nasdaq Composite traded up 0.16%.
The Home Depot Inc. (NYSE: HD) was today’s big gainer among the Dow 30. The home improvement store’s stock traded up 0.97% at around $78.83 in a 52-week range of $72.21 to $83.20. Volume was about 40% below the daily average of around 6.5 million shares traded. An encouraging report from the National Association of Home Builders probably gave the stock its lift today..
Oil & gas giant Chevron Corp. (NYSE: CVX) traded up 0.94% today at $128.46 in a 52-week range of $109.27 to $128.80, a new 52-week high set today. Volume was about equal to the daily average of nearly 5.6 million shares. The stock price may just be reacting to higher crude prices; certainly there’s nothing in Chevron’s recent news to explain the increase.
The Walt Disney Co. (NYSE: DIS) traded higher by 0.6% at $83.29 in a 52-week range of $60.41 to $85.86. Volume was about 30% below the daily average of nearly 6.5 million shares traded. The company had no news today, but benefitted from the lackluster opening weekend for DreamWorks Animation SKG’s How to Train Your Dragon 2.
Microsoft Corp. (NASDAQ: MSFT) traded at $41.46, up 0.56% in a 52-week range of $30.84 to $41.66. Share volume was about 40% lower than the daily average of around 33.6 million shares traded. The company announced a cloud-based machine-learning platform that can predict future events.
Of the Dow 30 stocks 17 looked to close higher today while 13 were on their way to a higher finish.