April 25, 2017: Markets opened higher again Tuesday as several large-cap stocks reported better-than-expected results before the bell. The materials and financial sectors traded higher by more than 1% with telecom and utilities the only sectors trading in the red. WTI crude oil for June delivery settled at $49.56 a barrel, up 0.7% on the day. June gold dropped 0.8% for the day to settle at $1,267.20. Equities were headed for a higher close shortly before the bell as the DJIA traded up 1.21% for the day, the S&P 500 traded up 0.68%, and the Nasdaq Composite traded up 0.76% to trade and close above 6,000 for the first time ever.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Caterpillar Inc. (NYSE: CAT) which traded up 8.14% at $104.69. The stock’s 52-week range is $69.04 to $104.70, a new high posted this afternoon. Volume was about 3 times the daily average of around 5.4 million shares. The company reported strong first-quarter results and fiscal year guidance before markets opened this morning.
McDonald’s Corp. (NYSE: MCD) traded up 5.58% at $141.72. The stock’s 52-week range is $110.33 to $141.99, and the high was posted this afternoon. Volume was nearly 3 times the daily average of around 3.5 million. The fast-food giant reported better-than-expected results this morning, including increased foot traffic.
E.I. du Pont de Nemours Inc. (NYSE: DD) traded up 3.34% at $82.02. The stock’s 52-week range is $61.12 to $82.37. Volume was less than 10% above the daily average of around 22.5 million shares. The company reported another good quarter as it waits to complete its merger with Dow Chemical.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.58% at $226.75. The stock’s 52-week range is $138.20 to $255.15. Volume was about 15% below the daily average of around 3.9 million shares. The bank had no specific news Tuesday.
Of the Dow stocks, 27 are on track to close higher Tuesday and just 3 are set to close lower.