The 4 Stocks That Buoyed the Dow on Wednesday
ThinkstockOctober 28, 2015: Markets opened higher on Wednesday and bounced of intra-day lows following the FOMC announcement which led investors to believe that interest rates may rise in December. Energy markets were stronger today, with WTI crude oil for December…
October 28, 2015: Markets opened higher on Wednesday and bounced of intra-day lows following the FOMC announcement which led investors to believe that interest rates may rise in December. Energy markets were stronger today, with WTI crude oil for December delivery settling at $45.94 a barrel, up 6.3% on the day. Gold settled at $1,176.10, up 0.9% for the day. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 1.02% for the day, the S&P 500 traded up 1.08%, and the Nasdaq Composite traded up 1.14%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was Apple Inc. (NASDAQ: AAPL) which traded up 3.95% at $119.08. The stock’s 52-week range is $92.00 to $134.54. Volume is about 40% above the daily average of 59.6 million shares traded. The tech giant reported solid earnings after markets closed on Tuesday.
Merck & Co. Inc. (NYSE: MRK) traded up 3.07% at $55.11. The stock’s 52-week range is $45.69 to $63.62. Trading volume was about 20% below the daily average of around 13.2 million. The company topped estimates when it reported earnings on Tuesday.
International Business Machines Corp. (NYSE: IBM) traded up 2.36% at $141.12. The stock’s 52-week range is $137.33 to $176.30. Trading volume was about 40% higher than the daily average of about 4.5 million. The company announced its acquisition of The Weather Company this morning.
Chevron Corp. (NYSE: CVX) traded up 2.37% at $89.78. The stock’s 52-week range is $69.58 to $120.17. Trading volume was about half the daily average of around 12 million. The sharp rise in crude oil prices today is carrying Chevron higher.
Of the Dow 30 stocks 26 are set to close higher today and 4 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.
