July 11, 2014: Markets opened mixed on Friday as the blue chips lagged on lower crude prices and a weakish report from the first major financial institution reported second-quarter earnings this morning. All three major indexes turned positive by mid-afternoon, and shortly before the closing bell the DJIA traded up 0.13% for the day, the S&P 500 traded up 0.13%, and the Nasdaq Composite traded up 0.40%.
Today’s largest percentage gainer among the Dow 30 stocks was General Electric Co. (NYSE: GE) traded up 1.30% at $26.54. The stock’s 52-week range is $22.92 to $28.09. Volume was about 20% above the daily average of around 26 million shares traded. GE reports second-quarter results next Friday and investors are anticipating some good news now that the Alstom deal is finished.
Verizon Communications Inc. (NYSE: VZ) which traded up 1.22% at $XX today, in a 52-week range of $45.08 to $51.94. Volume was about 10% higher than the daily average of nearly 16 million shares traded. Shares rose about 2% yesterday on positive comments from the CEO on quarterly results and the buying mood continued today.
The Boeing Co. (NYSE: BA) traded up 1.03% at $128.08. The stock’s 52-week range is $98.99 to $144.57. Share volume was about 35% below the daily average of around 3.5 million shares traded. Here again investors have an eye on next week’s opening of the Farnborough airshow where Boeing and Airbus are expected to put up some big orders.
UnitedHealth Group Inc. (NYSE: UNH) traded higher by 0.99% at $82.89. The stock’s 52-week range is $65.92 to $83.44. Volume was about 40% lower than the daily average of around 4 million shares traded. There was no news on the company today, but yesterday’s share price drop presented a buying opportunity for the bulls.
Of the Dow 30 stocks 17 are set to close higher today and 13 looked to close lower.