Caterpillar, General Electric Boost the DJIA Friday

May 19, 2017 by Paul Ausick

May 19, 2017: Markets opened mixed Friday and, combined with Thursday’s gains, appeared to be on track to recover all the value lost on Wednesday. Again Friday all equity sectors are trading in the green with industrials and energy leading the charge. A solid report from Deere & Co. this morning and higher crude prices likely drove the surge. WTI crude oil for June delivery settled at $50.33 a barrel, up 2% on the day and up more than 5% for the week. June gold added less than 0.1% for the day to settle at $1,253.60 to close the week up about 2.1%. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.62% for the day, the S&P 500 traded up 0.63%, and the Nasdaq Composite traded up 0.64%.

The DJIA stock posting the largest daily percentage gain ahead of the close Friday was Caterpillar Inc. (NYSE: CAT) which traded up 2.16% at $102.39. The stock’s 52-week range is $69.59 to $105.98. Volume was about 20% lower than the daily average of around 5.7 million. The company had no specific news, but Deere’s results and outlook reinforces investors’ attraction to the Cat as well.

General Electric Co. (NYSE: GE) traded up 1.91% at $28.00. The stock’s 52-week range is $27.10 to $33.00. Volume was about 15% above the daily average of nearly 31 million shares. The company had no specific news Friday.

The Boeing Co. (NYSE: BA) traded up 1.85% at $180.69. The stock’s 52-week range is $122.35 to $187.21. Volume was about 10% above the daily average of around 3 million shares. The company had no specific news.

Wal-Mart Stores Inc. (NYSE: WMT) traded up 1.68% at $787.84. The stock’s 52-week range is $65.28 to $79.44, a second consecutive new high. Volume was about 65% higher than the daily average of around 8.4 million shares. Analysts were very positive on the company after Thursday’s big earnings showing.

Of the Dow stocks, 25 are on track to close higher Friday and 5 are set to close lower.

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