May 2, 2017: Markets opened higher again on Tuesday but the gains grew increasingly narrow throughout the day. The energy and consumer staples sectors led the losers while industrials and healthcare performed best. WTI crude oil for June delivery settled at $47.66 a barrel, down 1.4% on the day, the lowest settlement since late November. June gold also added 0.1% for the day to settle at $1,257.00. Equities were headed for a narrow and mixed close shortly before the bell as the DJIA traded up 0.09% for the day, the S&P 500 traded down 0.01%, and the Nasdaq Composite traded down 0.08%.
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 Tuesday was Intel Corp. (NASDAQ: INTC) which traded up 1.89% at $36.99. The stock’s 52-week range is $29.50 to $38.45. Volume was about 10% above the daily average of around 24 million shares. The company had no specific news Tuesday.
Visa Inc. (NYSE: V) traded up 1.18% at $92.33. The stock’s 52-week range is $73.25 to $92.80. Volume was about a 25% below the daily average of around 8.2 million. The credit card issuer had no specific news.
3M Company (NYSE: MMM) traded up 0.75% at $196.28. The stock’s 52-week range is $163.17 to $197.12. Volume was about equal to the daily average of around 1.9 million shares. The company announced a new reflective material that is deep black when viewed in daylight and that is highly reflective at night.
Apple Inc. (NASDAQ: APPL) traded up 0.60% at $147.44. The stock’s 52-week range is $89.47 to $148.09, a new high posted this morning. Volume was about 40% above the daily average of around 24.5 million shares. The company reports quarterly earnings after the bell Tuesday.
Of the Dow stocks, 19 are on track to close higher Tuesday and 11 are set to close lower.