February 10, 2017: Markets opened higher again Friday following some decent news on export prices (up 0.1% in January) and import prices (down 0.2%). The University of Michigan consumer sentiment survey came in a bit weaker, but the IEA’s report on OPEC’s compliance with its production cut was probably Friday’s driving force. Among the sectors, energy and basic materials posted the day’s biggest gains and consumer staples were the day’s only loser. WTI crude oil for March delivery settled at $53.86 a barrel, up about 1.6% on the day to close the week just 3 cents higher than last week. April gold slipped less than 0.1% on the day to settle at $1,235.90 to close the week up 1.2%. Equities were headed for a higher close close shortly before the bell as the DJIA traded up 0.48% for the day, the S&P 500 traded up 0.37%, and the Nasdaq Composite traded up 0.32%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was Caterpillar Inc. (NYSE: CAT) which traded up 2.28% at $96.10. The stock’s 52-week range is $61.82 to $99.46. Volume was about 25% below the daily average of around 4.6 million shares. The company had no specific news, but rising crude oil prices are positive for the heavy equipment maker.
Nike Inc. (NYSE: NKE) traded up 1.56% at $56.17. The stock’s 52-week range is $49.01 to $65.44. Volume was nearly 50% higher than the daily average of around 8.9 million shares. The athletic apparel and gear maker had no specific news.
McDonald’s Corp. (NYSE: MCD) traded up 1.19% at $125.96. The stock’s 52-week range is $110.33 to $131.96. Volume was about 25% below the daily average of around 3.8 million shares. The fast food giant had no specific news Friday.
Johnson & Johnson (NYSE: JNJ) traded up 1.13% at $115.37. The stock’s 52-week range is $100.72 to $126.07. Volume was about 30% below the daily average of around 7.1 million shares. The healthcare company had no specific news.
Of the Dow 30 stocks, 21 are on track to close higher Friday and 9 are set to close lower.