January 3, 2017: Markets opened higher Tuesday following the beginning of promised cuts to crude oil production by OPEC members and other nations as well as a strong report on manufacturing activity in December. Telecom and healthcare were the day’s leading sector gainers while real estate and utilities were the losers. WTI crude oil for February delivery settled at $52.33 a barrel, down about 2.6% on the day after topping $55 earlier in the day. February gold added about 0.9% on the day to settle at $1,162.00. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.37% for the day, the S&P 500 traded 0.63%, and the Nasdaq Composite traded up 0.69%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Nike Inc. (NYSE: NKE) which traded up 2.26% at $51.98. The stock’s 52-week range is $49.01 to $65.44. Volume was about 20% above the daily average of around 9.1million shares. The athletic gear maker had no specific news.
Merck & Co. Inc. (NYSE: MRK) traded up 2.03% at $60.06. The stock’s 52-week range is $47.97 to $65.46. Volume was about 10% below the daily average of around 10.7 million shares. The company had no specific news Tuesday.
Verizon Communications Inc. (NYSE: VZ) traded up 1.98% at $54.44. The stock’s 52-week range is $43.79 to $56.95. Volume was about 25% higher than the daily average of around 14 million shares. The company had no specific news.
Visa Inc. (NYSE: V) traded up 1.74% at $79.38. The stock’s 52-week range is $66.12 to $83.96. Volume was about 20% below the daily average of around 10.4 million shares. The credit card issuer had no specific news Tuesday.
Of the Dow 30 stocks, 19 are on track to close higher Tuesday and 11 are set to close lower.