December 4, 2017: Markets opened higher Monday but weakness in tech stocks sank the Nasdaq early. The U.S. Senate’s passage of the tax bill certainly buoyed traders’ spirits. The tech and real estate sectors were the day’s poorest performers while telecom and financials soared. WTI crude oil for January delivery settled at $57.47 a barrel, down 1.5% for the day. February gold dropped 0.4% on the day to settle at $1,277.70. Equities were headed for a lower close shortly before the bell as the DJIA traded up 34% for the day, the S&P 500 traded down 0.08%, and the Nasdaq Composite traded down 1.09%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was The Walt Disney Co. (NYSE: DIS) which traded up 5.22% at $110.74. The stock’s 52-week range is $96.20 to $116.10. Volume was more than 50% higher than the daily average of around 8 million shares. The company is said to have resumed talks to acquire some of Fox’s media assets.
The Boeing Co. (NYSE: BA) traded up 3.08% at $279.75. The stock’s 52-week range is $150.02 to $281.83 and the high was posted this morning. Volume was about about 33% above the daily average of around 3.1 million shares. The aerospace company had no specific news.
The Home Depot Inc. (NYSE: HD) traded up 2.67% at $185.24. The stock’s 52-week range is $128.68 to $186.1, a new high set today. Volume was just above the daily average of around 4.5 million shares. The home improvement giant had no specific news.
JPMorgan Chase & Co. (NYSE: JPM) traded up 2.13% at $107.02. The stock’s 52-week range is $81.64 to $108.40, a new 52-week high. Volume was about 70% above the daily average of around 12 million. The big bank had no specific news Monday, but the Senate tax bill is expected to boost financial sector profits.
Of the Dow stocks, 20 are on track to close higher Monday and 10 are set to close lower.