October 18, 2016: Markets opened higher again Tuesday, and, as on Monday, the lack of any firm economic data led traders to look at corporate earnings for guidance. Netflix reported Monday night and shares popped; Goldman Sachs and UnitedHealth reported this morning and added to the positivity. Every sector traded higher this afternoon, with healthcare and technology leading the way. WTI crude oil for November delivery settled at $50.29 a barrel, up 0.7% for the day. December gold added 0.5% on the day to settle at $1,262.90. Equities were headed for a higher close before the bell as the DJIA traded up 0.41% for the day, the S&P 500 traded up 0.62%, and the Nasdaq Composite traded up 0.9%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was UnitedHealth Group Inc. (NYSE: UNH) which traded up 6.93% at $143.43. The stock’s 52-week range is $107.51 to $144.48. Trading volume was nearly 3 times the daily average of around 2.9 million. The company reported better-expected-results this morning and boosted its profit outlook for the year.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 2.11% at $172.56. The stock’s 52-week range is $138.20 to $199.9. Volume was about 60% above the daily average of around 2.5 million shares. The investment bank also posted good results this morning.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded up 1.24% at $69.51. The stock’s 52-week range is $50.71 to $75.72. Volume was about 50% below the daily average of around 2.5 million shares. The company’s president said that he will retire at the end of this year.
Intel Corp. (NASDAQ: INTC) traded up XX1.21% at $37.74. The stock’s 52-week range is $27.68 to $38.36. Volume was about 30% above the daily average of around 21 million shares. The chipmaker reports earnings after the bell Tuesday.
Of the 30 Dow index stocks 21 are on track to close higher Tuesday and 9 are set to close lower.