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Boeing, UnitedHealth Dominate DJIA Tuesday
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November 29, 2016: Markets opened higher Tuesday following the Commerce Department’s second estimate of third quarter GDP growth of 3.2%. The Conference Board’s consumer confidence index has returned to pre-recession levels. Tuesday’s best performing sectors have been healthcare and real estate. The energy sector was down about 1%. WTI crude oil for January delivery settled at $45.23 a barrel, down 3.9% on the day. February gold lost 0.3% on the day to settle at $1,190.80. Equities were headed for a higher close before the bell as the DJIA traded up 0.6% for the day, the S&P 500 traded up 0.6%, and the Nasdaq Composite traded up 0.14%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was UnitedHealth Group Inc. (NYSE: UNH) which traded up 3.44% at $157.35. The stock’s 52-week range is $107.51 to $158.12, and the high was posted this morning. Trading volume was about 15% above the daily average of around 3.7 million. The healthcare giant’s 2017 forecast was better than expected today.
The Boeing Co. (NYSE: BA) traded up 1.23% at $151.61. The stock’s 52-week range is $102.10 to $152.11, and a new 52-week high was posted this afternoon. Volume was about 15% lower than the daily average of around 3.6 million shares. The aircraft maker had no specific news, but arch-rival Airbus announced that it is laying off 1,100 workers.
Pfizer Inc. (NYSE: PFE) traded up 1.20% at $31.92 The stock’s 52-week range is $28.25 to $37.39. Volume was about 30% below the daily average of around 23.8 million shares. The stock was upgraded to Overweight at Barclays this morning.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.05% at $211.91 The stock’s 52-week range is $138.20 to $213.41 Volume was about a third below the daily average of around 3.2 million shares. The investment bank had no specific news Tuesday.
Of the Dow 30 stocks 13 are on track to close higher Tuesday and 17 are set to close lower.
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