Investing
Goldman Sachs, Apple Boost DJIA on Thursday
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July 14, 2016: Markets opened higher again Thursday after producer prices came in higher than expected for June and new claims for unemployment benefits came in lower than expected. The three major indexes traded in the green all day, led by the financial and basic materials sectors; utilities were the only sector to trade in the red. WTI crude oil for August delivery settled at $45.68 a barrel, up 2.1% for the day. August gold dropped 0.9% on the day to settle at $1332.20. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.77% for the day, the S&P 500 traded up 0.57%, and the Nasdaq Composite traded up 0.60%.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 2.95% at $162.57. The stock’s 52-week range is $138.20 to $214.61. Trading volume was about 20% above the daily average of around 3.36 million. The investment bank had no specific news, but traded up on JPMorgan’s results and expectations for Goldman’s own results due next week.
Apple Inc. (NASDAQ: AAPL) traded up 2.04% at $98.86. The stock’s 52-week range is $89.47 to $132.97. Trading volume was about 20% below the daily average of nearly 40 million shares. The tech giant had no specific news, but sentiment increased that the company would join the content production scrum that now includes Netflix and Amazon as well as Disney and other traditional media houses.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.93% at $64.38. The stock’s 52-week range is $50.07 to $70.61. Volume was about 60% above the daily average of around 16 million shares. The company posted better-than-expected second-quarter earnings this morning.
Pfizer Inc. (NYSE: PFE) traded up 1.69% at $36.92. The stock’s 52-week range is $28.25 to $36.94. Volume was about 25% below the daily average of around 20 million shares. The drugmaker had no specific news Thursday.
Of the 30 Dow index stocks 26 are on track to close higher Thursday and 4 are set close lower.
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