Goldman Sachs, GE Boost DJIA Thursday
December 1, 2016 by Paul AusickDecember 1, 2016: Markets opened higher again Thursday as oil prices started the day trading higher after gaining more than 9% on Wednesday. The financials, industrials, and energy sectors traded higher for the day, but weakness in tech and real estate was enough to weigh on the gains. WTI crude oil for January delivery settled at $51.06 a barrel, up 3.3% on the day. February gold lost 0.4% on the day to settle at $1,169.40. Equities were headed for a mixed close before the bell as the DJIA traded up 0.28% for the day, the S&P 500 traded down 0.47%, and the Nasdaq Composite traded down 1.55%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 3.52% at $227.01. The stock’s 52-week range is $138.20 to $226.85, a new 52-week high posted earlier today. Volume was nearly double the daily average of around 3.25 million shares. The investment bank had no specific news again Thursday.
General Electric Co. (NYSE: GE) traded up 1.95% at $31.36. The stock’s 52-week range is $27.10 to $33.00. Volume was about 10% higher than the daily average of around 34 million shares. The industrial giant had no specific news Thursday.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.88% at $81.68. The stock’s 52-week range is $52.50 to $82.28, and the high was posted in the early afternoon today. Trading volume was about 15% above the daily average of around 17 million. The big bank had no specific news today, but financial stocks are in favor as a new administration prepares to move into the White House.
UnitedHealth Group Inc. (NYSE: UNH) traded up 1.84% at $161.24. The stock’s 52-week range is $107.51 to $161.71, and the high was set earlier this afternoon. Volume was about 10% above the daily average of around 3.9 million shares. Credit Suisse named the health insurer a top pick yesterday.
Of the Dow 30 stocks 17 are on track to close higher Thursday and 13 are set to close lower.
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