Investing
The 4 Stocks That Lifted the DJIA on Wednesday
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April 27, 2016: Markets opened lower Wednesday and traded lower until the FOMC announcement in the mid-afternoon. The delay on raising rates and at least some observations that a June hike may be on tap have bolstered equities in both the S&P 500 index and the DJIA. Only the Nasdaq Composite remains in the red for the day, but a poor report from Apple will do that. WTI crude oil for June delivery settled at $45.33 a barrel, up 2.9% for the day, and a five-month high closing price. June gold added 0.6% on the day to settle at $1,250.40. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded up 0.42% for the day, the S&P 500 traded up 0.31%, and the Nasdaq Composite traded down 0.38%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Boeing Co. (NYSE: BA) which traded up 3.23% at $137.55. The stock’s 52-week range is $102.10 to $150.59. Trading volume was nearly equal to the daily average of around 6.2 million. The company posted quarterly results this morning that were neither great nor awful, but investors apparently chose to focus on the good news, like a big stock buyback and improved cash flow in the quarter.
Verizon Communications Inc. (NYSE: VZ) traded up 2.54% at $51.72. The stock’s 52-week range is $38.06 to $54.49. Volume was about 20% below the daily average of around 16 million shares traded. The telecom giant had no news Wednesday, but rival AT&T had nothing more than a so-so first quarter and its stock jumped even more today.
Caterpillar Inc. (NYSE: CAT) traded up 1.44% at $78.77. The stock’s 52-week range is $56.36 to $89.62. Volume was about 40% below the daily average of around 6.5 million shares. The heavy equipment maker had no specific news Wednesday.
3M Company (NYSE: MMM) traded up 1.07% at $165.95. The stock’s 52-week range is $134.00 to $170.77. Trading volume was about 25% below the daily average of around 2.3 million. The industrial giant had no specific news Wednesday, but made back most its price slide from Tuesday.
Of the Dow 30 stocks 24 are set to close higher on Wednesday and 6 are on track to close higher.
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