Cisco, Home Depot Lift DJIA on Thursday
April 27, 2017 by Paul AusickApril 27, 2017: Markets opened higher again Thursday after some late selling in the final half-hour of trading Wednesday. Once again equities have bounced around but with less than an hour to go before the closing bell, all three major indexes remain in positive territory. Energy and telecom performed weakest among market sectors today, with consumer discretionary and utilities stocks performing best. WTI crude oil for June delivery settled at $48.97 a barrel, down 1.3% on the day. June gold added 0.1% for the day to settle at $1,265.90. Equities were headed for another narrowly higher close shortly before the bell as the DJIA traded up 0.01% for the day, the S&P 500 traded up 0.03%, and the Nasdaq Composite traded up 0.40%.
Stocks traded very near the break-even line just minutes before the closing bell. The closing tally could finish with either a small gain or a small loss for any or all of the indexes.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was Cisco Systems Inc. (NASDAQ: CSCO) which traded up 1.23% at $33.81. The stock’s 52-week range is $25.81 to $34.53. Volume was about equal to the daily average of around 19.4 million shares. The company’s stock was raised to Outperform with an increased price target of $40 at Credit Suisse.
The Home Depot Inc. (NYSE: HD) traded up 1.22% at $156.09. The stock’s 52-week range is $119.20 to $156.27. Shares posted a second consecutive session with a new 52-week high. Volume was about equal to the daily average of around 3.9 million shares. The home improvement retailer had no specific news.
The Boeing Co. (NYSE: BA) traded up 0.92% at $183.38. The stock’s 52-week range is $122.35 to $185.71. Volume was about a 30% below the daily average of around 3.2 million. Several analysts raised price targets on the aircraft maker.
Intel Corp. (NASDAQ: INTC) traded up 0.76% at $37.21. The stock’s 52-week range is $29.50 to $38.45. Volume was about 20% above the daily average of around 23.6 million shares. The chipmaker announces first-quarter results after markets close Thursday.
Of the Dow stocks, 17 are on track to close higher Thursday and 13 are set to close lower.
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