Disney, Chevron Lead the DJIA Higher Monday

Print Email

November 6, 2017: Markets opened narrowly mixed Monday with a couple of high-dollar deals eventually boosting investors’ spirits. Broadcom is offering to pay $70 billion for Qualcomm and AMD and Intel are joining forces on a program to let some of the air out of Nvidia. But energy and real estate are the top S&P sectors Monday afternoon with telecom taking a real beating. WTI crude oil for December delivery settled at $57.35 a barrel, up 3.1% for the day. December gold added 1% on the day to settle at $1,281.60. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.11% for the day, the S&P 500 traded up 0.18%, and the Nasdaq Composite traded up 0.37%.

The DJIA stock posting the largest daily percentage gain ahead of the close Friday was The Walt Disney Co. (NYSE: DIS) which traded up 1.98% at $100.59. The stock’s 52-week range is $92.11 to $116.10. Volume was about 50% above the daily average of around 8 million shares. The company is reportedly holding discussions to buy the entertainment assets of 21st Century Fox.

Chevron Corp. (NYSE: CVX) traded up 1.66% at $116.90. The stock’s 52-week range is $102.55 to $120.89. Volume was about 20% below the daily average of around 5 million. The oil supermajor had no specific news Monday but a 3% jump in crude oil prices is always welcome.

Apple Inc. (NASDAQ: AAPL) traded up 1.23% at $174.62. The stock’s 52-week range is $104.08 to $174.99 and the high was posted today. Volume was about equal to the daily average of around 28.5 million shares. As noted, the company reported a big quarter and could be on its way to an even bigger one. First weekend sales of the iPhone X left the shelves completely bare — more good news for the company and its investors.

The Boeing Co. (NYSE: BA) traded up 1.04% at $264.47. The stock’s 52-week range is $141.29 to $267.21. Volume was about 30% below the daily average of around 3.4 million shares. United Airlines is reportedly considering a large order for Boeing’s 767 passenger jet, a plane the company stopped making in 2014.

Of the Dow stocks, 15 are on track to close higher Monday and 15 are set to close lower.