Apple, JPMorgan Dominate DJIA on Tuesday
February 14, 2017 by Paul AusickFebruary 14, 2017: Markets opened mixed Tuesday as investors and traders stepped back a bit from the pace of the last few days’ trading. Although the three major indexes traded somewhat higher in the sessions’ last hour, six S&P sectors traded lower, led by utilities and real-estate. Financials were the day’s biggest gainers. WTI crude oil for March delivery settled at $53.20 a barrel, up about 0.5% on the day. April gold slipped 40 cents on the day to settle at $1,225.40. Equities were headed for a higher close close shortly before the bell as the DJIA traded up 0.40% for the day, the S&P 500 traded up 0.34%, and the Nasdaq Composite traded up 0.25%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was JPMorgan Chase & Co. (NYSE: JPM) which traded up 1.70% at $89.65. The stock’s 52-week range is $54.33 to $89.70, a new 52-week high set this afternoon. Volume was about 15% below the daily average of around 16.9 million shares. The company had no specific news, but Fed Chairwoman Janet Yellen said she expects more policy rate hikes this year and that’s good for banks.
Merck & Co. Inc. (NYSE: MRK) traded up 1.36% at $65.65. The stock’s 52-week range is $49.24 to $65.72, and the high was posted this afternoon. Volume was nearly 30% lower than the daily average of around 10.7 million shares. The drug maker had no specific news.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.36% at $249.62. The stock’s 52-week range is $138.20 to $250.00, and the high was posted this afternoon. Volume was about 20% below the daily average of around 4.3 million shares. The company had no specific news.
Apple Inc. (NASDAQ: AAPL) traded up 1.24% at $134.94. The stock’s 52-week range is $89.47 to $135.00, an all-time high. Volume was about 20% below the daily average of around 30.4 million shares. The company had no specific news, but investors are pinning high hopes on the next iteration of Apple’s iPhone.
Of the Dow 30 stocks, 21 are on track to close higher Tuesday and 9 are set to close lower.
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