October 3, 2017: Markets opened higher again Tuesday not so much on news as on enthusiasm over the Trump administration’s tax proposals. New car sales in September released this morning and the news was better than expected, especially for pickup truck sales. WTI crude oil for November delivery settled at $50.42 a barrel,down 0.3% on the day. December gold dropped less than 0.1% on the day to settle at $1,274.60. Equities were headed for a modestly higher close shortly before the bell as the DJIA traded up 0.35% for the day, the S&P 500 traded up 0.19%, and the Nasdaq Composite traded up 0.16%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Intel Corp. (NASDAQ: INTC) which traded up 1.02% at $39.44. The stock’s 52-week range is $33.23 to $39.70, a second consecutive new high set this afternoon. Volume was about 30% above the daily average of around 21.9 million. The chipmaker had no specific news.
American Express Co. (NYSE: AXP) traded up 0.94% at $91.39. The stock’s 52-week range is $59.50 to $91.64, a new 52-week high posted this afternoon. Volume was about 35% below the daily average of around 3.2 million shares. The company won a lawsuit related to its loss of Costco as the retailer’s sole credit card issuer.
Verizon Communications Inc. (NYSE: VZ) traded up 0.93% at $49.82. The stock’s 52-week range is $42.80 to $54.83. Volume was about half the daily average of around 14.5 million shares. The company had no specific news.
The Walt Disney Co. (NYSE: DIS) traded up 0.89% at $100.75. The stock’s 52-week range is $90.32 to $116.10. Volume was about 40% below the daily average of around 8 million shares. The Mouse House struck a new carriage deal Monday with cable TV operator Altice.
Of the Dow stocks, 26 are on track to close higher Tuesday and 4 are set to close lower.
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