IBM, Goldman Sachs Push DJIA Higher Wednesday

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October 18, 2017: Markets opened higher Wednesday with the Dow blue-chips way out ahead of the pack. IBM is leading the charge as the tech sector has posted a decent gain for the day, as have the financials. Energy stocks were the top losers following by telecoms. WTI crude oil for November delivery settled at $52.04 a barrel, up 0.3% on the day, following a mixed report on oil inventories. December gold dropped 0.3% on the day to settle at $1,283.00. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.68% for the day, the S&P 500 traded flat, and the Nasdaq Composite traded up 0.06%.

The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was International Business Machines Corp. (NYSE: IBM) which traded up 9.29% at $160.16. The stock’s 52-week range is $139.12 to $182.79. Volume was about seven ¬†times the daily average of around 3.9 million shares. The company reported an earnings beat this morning and investors might be missing something.

The Goldman Sachs Group Inc. (NYSE: GS) traded up 2.71% at $242.49. The stock’s 52-week range is $172.51 to $255.15. Volume was about 30% above the daily average of around 2.8 million. The bank had nos specific news Wednesday.

Intel Corp. (NASDAQ: INTC) traded up 0.99% at $40.19. The stock’s 52-week range is $33.23 to $40.25 and the high was posted this afternoon. Volume was about 30% below the daily average of around 22 million shares. The company had no specific news.

The Boeing Co. (NYSE: BA) traded up 0.54% at $260.00. The stock’s 52-week range is $134.25 to $263.79. Volume was less than half the daily average of around 3.7 million shares. The company had no specific news Wednesday.

Of the Dow stocks, 19 are on track to close higher Wednesday and 11 are set to close lower.