Boeing, Goldman Sachs Dominate DJIA Monday

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September 18, 2017: Markets opened higher Monday as the first of the week’s several reports on U.S. housing was released — homebuilder confidence ticked down but remains solidly above 50. The FOMC meeting starts tomorrow and will get a lot of attention leading up to Wednesday’s funds rate announcement. WTI crude oil for October delivery settled at $49.91 a barrel, up 2 cents on the day. December gold dropped 1.1% to settle at $1,310.80. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.31% for the day, the S&P 500 traded up 0.15%, and the Nasdaq Composite traded up 0.12%.

The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 4.61% at $253.60. The stock’s 52-week range is $126.34 to $253.79, a new high posted this afternoon. Volume was about 10% above the daily average of around 3.6 million shares. The company is simply on a roll with a second consecutive new all-time high.

Caterpillar Inc. (NYSE: CAT) traded up 1.95% at $123.74. The stock’s 52-week range is $80.33 to $124.37, a new high posted this afternoon. Volume was about equal to the daily average of around 3.8 million shares. The company’s stock got a ratings upgrade to Buy and a hiked price target of $140 from UBS this morning.

JPMorgan Chase & Co. (NYSE: JPM) traded up 1.45% at $92.95. The stock’s 52-week range is $65.11 to $95.22. Volume was about 30% below the daily average of around 13 million shares. The company had no specific news.

The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.15% at $227.80. The stock’s 52-week range is $157.77 to $255.15. Volume was about 33% below the daily average of around 3 million. The company had no specific news.

Of the Dow stocks, 16 are on track to close higher Monday and 14 are set to close lower.