DuPont, IBM Lift DJIA on Tuesday
January 24, 2017: Markets opened higher Tuesday and continued a slow and steady march higher for the rest of the day. Materials and energy were the best performing sectors while telecom was by far the worst performer, largely due to a poor earnings report from Verizon and the knock-on effects of that. WTI crude oil for March delivery settled at $53.18 a barrel, up about 0.8% on the day. February gold dropped 0.4% on the day to settle at $1,210.80. Equities were headed for a lower close close shortly before the bell as the DJIA traded up 0.60% for the day, the S&P 500 traded up 0.70%, and the Nasdaq Composite traded up 0.92%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was E. I. du Pont de Nemours and Co. (NYSE: DD) which traded up 4.44% at $76.01. The stock’s 52-week range is $50.71 to $76.47, and the high was posted today. Volume was about 75% higher than the daily average of around 2.9 million shares. The company reported better than expected quarterly results this morning, although the proposed merger with Dow Chemical has been delayed.
International Business Machines Corp. (NYSE: IBM) traded up 2.74% at $175.72. The stock’s 52-week range is $116.90 to $176.00, a new high set this afternoon. Volume was about 35% higher than the daily average of around 3.6 million shares. The company had no specific news Tuesday.
Intel Corp. (NASDAQ: INTC) traded up 2.42% at $37.66. The stock’s 52-week range is $27.68 to $38.36. Volume was about 50% above the daily average of around 19 million shares. The company had no specific news Tuesday, but is scheduled to report quarterly earnings on Thursday.
American Express Co. (NYSE: AXP) traded up 1.94% at $77.44. The stock’s 52-week range is $50.27 to $78.00. Volume was 45% below the daily average of around 4.5 million shares. The company had no specific news.
Of the Dow 30 stocks, 22 are on track to close higher Tuesday and 8 are set to close lower.