Disney, General Electric Push DJIA Higher Tuesday
January 2, 2018 by Paul AusickJanuary 2, 2018: Markets opened higher Tuesday for the opening session of the new year. Tensions over events in North Korea and Iran were not reflected in the equity markets, with tech, healthcare, materials, and energy sectors putting up solid gains. Utilities and financials lagged. WTI crude oil for February delivery settled at $60.37 a barrel, down less than 0.1% for the day. February gold added 0.5% on the day to settle at $1,316.10 for an eighth consecutive winning session and the highest close in more than three months. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.34% for the day, the S&P 500 traded up 0.76%, and the Nasdaq Composite traded up 1.41%.
Bitcoin futures for January delivery traded at $15,165, up about 4.8%, on the CME after opening at $13,995 this morning. Only 701 contracts had been traded in the session and open interest is just 498.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was The Walt Disney Co. (NYSE: DIS) which traded up 3.88% at $111.68. The stock’s 52-week range is $96.20 to $116.10. Volume was less than 10% above the daily average of around 8.1 million shares. The company dominated the 2017 movie industry box office.
General Electric Co. (NYSE: GE) traded up 2.61% at $17.91. The stock’s 52-week range is $17.25 to $31.84. Volume was about 20% below the daily average of around 78 million. The company had no news but there have been plenty of stories about why GE stock is a good buy at this price level.
Chevron Corp. (NYSE: CVX) traded up 1.93% at $127.61. The stock’s 52-week range is $102.55 to $127.62 and the high was posted this afternoon. Volume was about 15% below the daily average of around 5 million shares. The company had no news.
Exxon Mobil Corp. (NYSE: XOM) traded up 1.63% at $85.00. The stock’s 52-week range is $76.05 to $91.34. Volume was about 15% below the daily average of around 9.3 million shares. The company had no specific news.
Of the Dow stocks, 21 are on track to close higher Tuesday and 9 are set to close lower.
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