April 17, 2017: Markets opened higher Monday following a long weekend that saw tensions with North Korea relax and better economic data out of China. Earnings season ramps up this afternoon with both Netflix and United Continental reporting first quarter results after Monday’s close. Equities have been moving on an upward line all day, with every sector except energy showing a gain for the day. WTI crude oil for May delivery settled at $52.65 a barrel, down 1% on the day. June gold added 0.3% on the day to settle at $1,291.90. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.89% for the day, the S&P 500 traded up 0.82%, and the Nasdaq Composite traded up 0.81%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 1.88% at $178.74. The stock’s 52-week range is $122.35 to $185.71. Volume was about half the daily average of around 3.4 million shares. The company has announced another round of layoffs.
Nike Inc. (NYSE: NKE) traded up 1.71% at $56.28 The stock’s 52-week range is $49.01 to $60.53. Volume was about 30% below the daily average of around 9.3 million shares. The company had no specific news.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.66% at $85.80 The stock’s 52-week range is $57.05 to $93.98. Volume was about equal to the daily average of around 15.9 million shares. The big bank had no specific news Monday.
UnitedHealth Group Inc. (NYSE: UNH) traded up 1.35% at $167.19. The stock’s 52-week range is $126.60 to $172.14. Volume was about 15% below the daily average of around 3.7 million. The company is scheduled to announce earnings before the market opens Tuesday.
Of the Dow stocks, 28 are on track to close higher Monday and just 2 (Chevron and Exxon Mobil) are set to close lower.