DuPont, McDonald’s Push DJIA Higher Wednesday

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May 24, 2017: Markets opened higher again Wednesday and while equities have stayed in the green all day, they have not strayed for from the break-even line. The energy and telecom sectors traded in the red while materials and real estate were the best performing sector. WTI crude oil for July delivery settled at $51.36 a barrel, down 0.2%. June gold also dipped 0.2% for the day to settle at $1,253.10. Equities were headed for a modestly higher close shortly before the bell as the DJIA traded up 0.39% for the day, the S&P 500 traded up 0.28%, and the Nasdaq Composite traded up 0.43%.

The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was E.I. du Pont de Nemours Inc. (NYSE: DD) which traded up 1.27% at $78.32. The stock’s 52-week range is $61.12 to $82.37. Volume was about 30% below the daily average of around 2.9 million shares. Activist investor Daniel Loeb of Third Point LLC said he sees another $20 billion in value by breaking up the merged Dow Chemical-DuPont company after the merger is completed.

McDonald’s Corp. (NYSE: MCD) traded up 1.20% at $149.60. The stock’s 52-week range is $110.33 to $149.99, a new 52-week high posted this afternoon. Volume was about 30% below the daily average of around 3.8 million shares. The company held its annual shareholders’ meeting today.

Visa Inc. (NYSE: V) traded up 1.15% at $94.94. The stock’s 52-week range is $73.25 to $94.99, a 52-week high set this afternoon. Volume was about 35% lower than the daily average of around 7.7 million shares. The company had no specific news Wednesday.

The Coca-Cola Co. (NYSE: KO) traded up 1.15% at $44.90X. The stock’s 52-week range is $39.88 to $46.01. Volume was about 45% below the daily average of around 12.8 million. The company had no specific news.

Of the Dow stocks, 18 are on track to close higher Wednesday and 12 are set to close lower.