November 6, 2015: Markets opened nearly flat again on Friday following a strong report on U.S. non-farm payrolls. The dollar picked up steam, while bonds and equities fell as the jobs picture now favors a raise in the fed funds rate. With Friday’s report on non-farm payrolls expected to improve, the odds for a rise in the fed funds rate get even better. WTI crude dropped about 1.9% today to settle at $44.29 per barrel. Oil closed the week down 4.9%. Gold ended the week down 4.7% after settling down 1.47% on Friday at $1,087.70. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded up 0.15% for the day, the S&P 500 traded down 0.15%, and the Nasdaq Composite traded up 0.28%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 3.67% at $199.06. The stock’s 52-week range is $167.49 to $218.77 and it is the most heavily weighted stock in the DJIA accounting for more than 7% of the index. Volume was about equal to the daily average of about 3.3 million shares traded. The bank issued a margin call forcing Valeant Pharma’s CEO to sell 1.3 million shares of his company’s stock.
The Walt Disney Co. (NYSE: DIS) traded up 2.32% at $116.52. The stock’s 52-week range is $88.65 to $122.08. Trading volume was about 30% above the daily average of around 11 million. The company reported strong results ahead of next month’s release of the latest “Star Wars” film.
E. I. du Pont de Nemours and Company (NYSE: DD) traded up 1.84% at $66.00. The stock’s 52-week range is $47.11 to $76.59. Trading volume was about 20% below the daily average of about 6.8 million. The company is reportedly talking with both Dow Chemical and Syngenta regarding potential deals.
General Electric Co. (NYSE: GE) traded up 0.93% at $29.92. The stock’s 52-week range is $19.37 to $29.92, and the high was posted today. Trading volume was about 50% higher than the daily average of about 54 million. The company had no specific news today.
Of the Dow 30 stocks 13 are set to close higher today and 17 are on track to close lower.