The 4 Stocks That Buttressed the Market
thinkstockJune 9, 2014: Markets opened mixed on Monday before turning positive shortly after the opening. The S&P 500 and the DJIA dipped briefly into the red on some profit-taking in the mid-afternoon, but equities are holding on to slim gains…
June 9, 2014: Markets opened mixed on Monday before turning positive shortly after the opening. The S&P 500 and the DJIA dipped briefly into the red on some profit-taking in the mid-afternoon, but equities are holding on to slim gains for the day. Shortly before the closing bell the DJIA traded up 0.11% for the day, the S&P 500 was up 0.07%, and the Nasdaq Composite traded up 0.31%.
Today’s big gainer among the Dow 30 was The Walt Disney Co. (NYSE: DIS). The Mouse House’s stock traded at $85.47, up 1.02% in a 52-week range of $60.41 to $85.86, a new 52-week high. Share volume was about 35% lower than the daily average of around 6.5 million shares traded. Disney’s latest film, Maleficent, finished its second week of release with a two-week box office total of more than $127 million.
General Electric Co. (NYSE: GE) traded up 0.96% today at $27.43 in a 52-week range of $22.76 to $28.09. Volume was about 15% below the daily average of nearly 28 million shares. GE said today that it had invested in a Japanese solar project.
Defense company United Technologies Corp. (NYSE: UTX) traded up 0.97% today at around $120.06 in a 52-week range of $90.30 to $120.66. Volume was about 25% below the daily average of around 3.2 million shares traded. The firm was awarded two federal contracts today worth about $125 million.
JPMorgan Chase & Co. (NYSE: JPM) traded higher by 0.81% at $57.44 in a 52-week range of $50.06 to $61.48. The bank made some changes in its European operations over the weekend and that could have been the catalyst for today’s share price rise. Volume was about 40% below the daily average of nearly 18 million shares traded.
Of the Dow 30 stocks 12 looked to close higher today while 17 were on their way to a lower finish and one remained flat.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.