October 28, 2014: Markets opened higher on Tuesday on the first day of the 2-day FOMC meeting which concludes on Wednesday with an announcement on interest rates. Economic data was generally positive today with consumer confidence rising sharply and durable goods orders falling slightly. Shortly before the closing bell the DJIA traded up 0.95% for the day, the S&P 500 traded up 0.99%, and the Nasdaq Composite traded up 1.49%.
The Dow 30 stock posting the largest daily gain ahead of the close today was Caterpillar Inc. (NYSE: CAT) which traded higher by 2.45% at $100.95. The stock’s 52-week range is $81.87 to $111.46. Volume was about 20% below the daily average of around 5.2 million shares. The company had no specific news today.
United Technologies Corp. (NYSE: UTX) traded up 2.02% at $106.29. The stock’s 52-week range is $59.35 to $72.92. Trading volume was about 20% below the daily average of around 4.3 million shares. Like Caterpillar there was no specific news here today, but industrials as a group posted a gain above 1.5%.
Chevron Corp. (NYSE: CVX) traded up 1.83% at $117.13 in a 52-week range of $106.65 to $135.10. Volume was about 25% below the daily average of around 6.3 million shares. Crude oil prices moved higher today pushing the energy sector up more than 2% as a group.
Visa Inc. (NYSE: V) traded up 1.39% at $216.38. The stock’s 52-week range is $194.26 to $235.50. Visa reports third quarter results after markets close tomorrow. Volume today was about 25% below the daily average of around 5.2 million shares.
Of the Dow 30 stocks only 4 are set to close lower today and 26 are on track to close higher.
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