July 2, 2014: Markets opened mixed on Wednesday with the S&P 500 starting just barely in the red based on Tuesday’s close. None of the major indexes made a big move today, and crude oil prices slipped on news that Libyan shipments may begin again. The markets were pointed at a mixed close shortly before the final bell. The DJIA traded up 0.08% for the day, the S&P 500 was flat, and the Nasdaq Composite traded down 0.13%.
Today’s big gainer among the Dow 30 stocks was International Business Machines Corp. (NYSE IBM). The stock traded at $188.36, up 1.09% in a 52-week range of $172.19 to $200.94. Share volume was about 5% above the daily average of around 4.3 million shares traded. IBM’s stock gained 3% yesterday and today’s gain comes as the company got a boost from Lenovo’s statement that its acquisition of IBM’s low-end server business will not be held up by the Chinese government.
Pfizer Inc. (NYSE: PFE) traded higher today, up 0.96% at $30.37 shortly before today’s close. The stock’s 52-week range is $27.33 to $32.96. Volume was about 50% below the daily average of around 29 million shares traded. Pfizer had no news today.
General Electric Co. (NYSE: GE) traded up 0.85% at around $26.63 in a 52-week range of $22.76 to $28.09. Volume was about 30% below the daily average of around 26 million shares traded. The company had no news of note today.
Verizon Communications Inc. (NYSE: VZ) traded higher by 0.53% at $49.63 shortly before the closing bell. The stock’s 52-week range is $45.08 to $51.94. Volume was about 40% lower than the daily average of around 17.5 million shares traded. The Federal Trade Commission’s suit against competitor T-Mobile is the only news of note related to the telecom business today.
Of the Dow 30 stocks 16 looked to close higher today and 14 were on their way to a lower finish and one was headed to a flat close.