Investing

The 4 Stocks That Boosted the DJIA on Wednesday

Paul Ausick

Published: March 16, 2016 4:01 pm

Last Updated: January 13, 2020 11:52 am

March 16, 2016: Markets opened lower again on Wednesday as traders and investors waited to hear what the FOMC had to say about interest rates. The report on inflation that came out before the bell led some to believe that the Fed would be more likely to raise rates. When the FOMC announcement came, rates remained steady and the “guidance” is that we can expect 2 more rate hikes in 2016 instead of the 4 than many were expecting. The FOMC announced also boosted WTI crude oil for April delivery which settled at $38.46 a barrel, up 5.8%. Some of that increase was due to a drop in the dollar. April gold dropped 0.1% to settle at $1,229.80 for the day, but jumped to $1,252.60 in after-hours electronic trading, again on the FOMC announcement. Equities were headed for a higher close shortly before the closing bell as the DJIA traded up 0.56% for the day, the S&P 500 traded up 0.66%, and the Nasdaq Composite traded up 0.82.

The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was Caterpillar Inc. (NYSE: CAT) which traded up 2.75% at $74.43. The stock’s 52-week range is $56.36 to $89.62. Volume reached about 75% of the daily average of around 7.2 million shares. The heavy equipment maker had no specific news Wednesday.

Microsoft Corp. (NASDAQ: MSFT) traded up 1.78% at $54.54. The stock’s 52-week range is $39.72 to $56.85. Trading volume was about 40% below the daily average of around 40 million. The software giant also had no specific news Wednesday..

Apple Inc. (NASDAQ: AAPL) traded up 1.60% at $106.25. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 30% below the daily average of around 47 million.The tech company had no specific news Wednesday, but expectations are running high for Monday’s scheduled product announcement.

24/7 Wall St.
Dogs of the Dow on Fire in 2016: 4 to Buy With Yields of 4% or More

United Technologies Corp. (NYSE: UTX) traded up 1.51% at $97.74. The stock’s 52-week range is $83.39 to $120.60. Volume was about 25% below the daily average of around 7.2 million shares traded. The company had no specific news on Wednesday, but its Pratt & Whitney engine division has recently signed some contracts.

Of the Dow 30 stocks 22 are set to close higher on Wednesday and 8 are on track to close lower.