The 4 Stocks That Held Up the DJIA on Wednesday
thinkstockApril 8, 2015: Markets opened higher on Wednesday on a quiet news data. Mortgage applications rose slightly even as mortgage rates slipped lower. Then the crude oil inventory report hit the wire at mid-morning and showed another huge increase in…
April 8, 2015: Markets opened higher on Wednesday on a quiet news data. Mortgage applications rose slightly even as mortgage rates slipped lower. Then the crude oil inventory report hit the wire at mid-morning and showed another huge increase in barrels. The DJIA and the S&P 500 both tumbled into the red before climbing back to a nice gain before the FOMC minutes were released. That sent the two indexes south again. Shortly before the closing bell the DJIA traded up 0.15% for the day, the S&P 500 traded up 0.23%, and the Nasdaq Composite traded up 0.72
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was Visa Inc. (NYSE: V) which traded up 1.22% at $66.60. The stock’s split-adjusted 52-week range is $48.71 to $69.66. Trading volume was about 50% below the daily average of around 10.5 million shares. The company’s price target took a cut last week, but there’s been no specific news since.
Nike Inc. (NYSE: NKE) traded up 1.17% at $100.78. The stock’s 52-week range is $71.10 to $103.79. Trading volume was about 35% below the daily average of around 3.7 million shares. The company received a nice plug from a Cowen analyst on CNBC this morning.
The Home Depot Inc. (NYSE: HD) traded higher by 0.99% at $115.43. The stock’s 52-week range is $74.61 to $117.99. Trading volume was about 40% below the daily average of around 5.2 million shares. The company had no specific news today.
Verizon Communications Inc. (NYSE: VZ) traded up 0.90% at $49.16. The stock’s 52-week range is $45.09 to $53.66. Trading volume was about 20% below the daily average of around 16.8 million shares. The communications giant took a downgrade to Hold from Zack’s today.
Of the Dow 30 stocks 21 are set to close higher today and 9 are on track to close lower.
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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.