Disney, Goldman Sachs Lift DJIA on Friday
November 11, 2016: Markets opened lower Friday and did not move much from the breakeven line for most of the day. Friday’s best performing sectors were real estate and consumer discretionary stocks, with energy and materials the worst performers. WTI…
November 11, 2016: Markets opened lower Friday and did not move much from the breakeven line for most of the day. Friday’s best performing sectors were real estate and consumer discretionary stocks, with energy and materials the worst performers. WTI crude oil for December delivery settled at $43.41 a barrel, down 2.8% for the day and down 1.5% for the week. December gold dropped 3.3% on the day to settle at $1,224.30, a weekly drop of about 6.2%. Equities were headed for a mixed close before the bell as the DJIA traded up 0.19% for the day, the S&P 500 traded down 0.15%, and the Nasdaq Composite traded up 0.52%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was The Walt Disney Co. (NYSE: DIS) which traded up 2.98% at $97.81. The stock’s 52-week range is $86.25 to $120.65. Trading volume was nearly 3 times the daily average of around 7 million. The company reported lackluster results last night, but investors apparently were in a forgiving mood in Friday trading.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.48% at $203.85. The stock’s 52-week range is $138.20 to $205.00, a second consecutive new annual high. Volume of about 5.5 million was nearly double the daily average of around 2.8 million shares. Another good day for Goldman, though not as good as the prior two. The shares have gained about $5 since Tuesday’s election.
Cisco Systems Inc. (NASDAQ: CSCO) traded up 1.11% at $31.34. The stock’s 52-week range is $22.46 to $31.95. Volume was about 15% below the daily average of around 21 million shares. The networking giant had no specific news Friday.
General Electric Co. (NYSE: GE) traded up 0.89% at $30.68. The stock’s 52-week range is $27.10 to $33.00. Volume was about equal to the daily average of around 32.7 million shares. The industrial conglomerate had no specific news.
[nativounit]
Of the Dow 30 stocks 18 are on track to close higher Friday and 12 are set 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.
