October 23, 2014: Markets opened higher on Thursday following on reports of better than expected manufacturing PMI readings from China, Japan, and the eurozone. Solid earnings reports from two big names on the DJIA also boosted equities across the board today. Shortly before the closing bell the DJIA traded up 1.43% for the day, the S&P 500 traded up 1.34%, and the Nasdaq Composite traded up 1.65%.
The Dow 30 stock posting the largest daily gain ahead of the close today was Caterpillar Inc. (NYSE: CAT) which traded higher by 5.18% at $99.47. The stock’s 52-week range is $81.87 to $111.46. Volume was about double the daily average of around 5.1 million shares. The company beat estimates today and raised full-year EPS guidance.
3M Company (NYSE: MMM) traded up 4.35% at $145.00. The stock’s 52-week range is $122.70 to $147.92, a new 52-week high set today. Trading volume was more than double the daily average of around 2.6 million shares. The company reported earnings that topped expectations this morning.
Chevron Corp. (NYSE: CVX) traded up 2.07% at $116.36. The stock’s 52-week range is $106.65 to $135.10. The supermajor oil company this morning announced an oil discovery in the deepwater Gulf of Mexico. Volume was about equal to the daily average of around 6.2 million shares.
Visa Inc. (NYSE: V) traded up 1.55% at $214.18 in a 52-week range of $194.26 to $235.50. Volume was about 35% below the daily average of around 2.6 million shares. Visa increased its quarterly dividend to $0.48 per share after markets closed last night.
Of the Dow 30 stocks only 3 are set to close lower today and 27 are on track to close higher.
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