September 6, 2017: Markets opened higher Wednesday following a better-than-expected report on the U.S. trade gap. Tech stocks weighed on the Nasdaq Composite in the late morning, but staged a rally to trade in the green for most of the afternoon. Leading sectors were Energy and healthcare while telecom and utilities lagged. WTI crude oil for October delivery settled at $49.16 a barrel, up 1% on the day. Gold dropped 0.4% to settle at $1,339.00. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.36% for the day, the S&P 500 traded up 0.38%, and the Nasdaq Composite traded up 0.37%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Home Depot Inc. (NYSE: HD) which traded up 2.58% at $156.88. The stock’s 52-week range is $119.20 to $160.86. Volume was 20% higher than the daily average of around 5 million shares. The company is expected to benefit from the rebuilding efforts following two major hurricanes in the U.S.
Chevron Corp. (NYSE: CVX) traded up 2.43% at $112.10. The stock’s 52-week range is $97.53 to $119.00. Volume was less than 10% above the daily average of around 5.2 million shares. Crude oil prices are rising as refineries in Texas come back online and are expected to increase demand for black gold.
Intel Corp. (NASDAQ: INTC) traded up 2.37% at $35.85 The stock’s 52-week range is $33.23 to $38.45. Volume was 10 % below the daily average of around 22 million. The company won a review of a European Union antitrust fine of €1 billion.
Exxon Mobil Corp. (NYSE: XOM) traded up 2.32% at $78.97. The stock’s 52-week range is $76.05 to $93.22. Volume was less than 10% above the daily average of around 11 million shares. The energy giant’s stock was upgraded and share price raised at UBS this morning.
Of the Dow stocks, 20are on track to close higher Wednesday and 10 are set to close lower.