December 12, 2016: Markets opened mixed Monday as traders position themselves for the FOMC meeting announcement due on Wednesday. An early 4% spike in crude oil moderated later in the day, but oil prices continue their rise. The telecom and utilities sectors posted the largest gains Monday with consumer discretionary and financials stocks lagging. WTI crude oil for January delivery settled at $52.83 a barrel, up 2.6% on the day. February gold added 0.3% on the day to settle at $1,165.80. Equities were headed for a mixed close shortly before the bell as the DJIA traded up 0.16% for the day, the S&P 500 traded down 0.13%, and the Nasdaq Composite traded down 0.63%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was Johnson & Johnson (NYSE: JNJ) which traded up 2.69% at $115.28. The stock’s 52-week range is $39.88 to $47.13. Volume was about a equal to the daily average of around 7.2 million shares. The company had no specific news.
Wal-Mart Stores Inc. (NYSE: WMT) traded up 2.30% at $71.71. The stock’s 52-week range is $58.67 to $75.19. Volume was about 20% below the daily average of around 8.6 million shares. The retail giant had no specific news Monday.
Pfizer Inc. (NYSE: PFE) traded up 2.08% at $32.36. The stock’s 52-week range is $28.25 to $37.39. Volume was within 10% of the daily average of around 25 million shares. The drug company boosted its dividend by 7% this morning.
Exxon Mobil Corp. (NYSE: XOM) traded up 1.99% at $90.78. The stock’s 52-week range is $71.55 to $95.55. Trading volume was about 10% above the daily average of around 11 million. The company’s CEO, Rex Tillerson, has be nominated by President-elect Donald Trump to become the next Secretary of State. And as noted earlier, crude prices were up again Monday..
Of the Dow 30 stocks 19 are on track to close higher Monday and 11 are set to close lower.
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