Goldman Sachs, JPMorgan Bolster DJIA on Tuesday
Goldman Sachs, JPMorgan, Caterpillar, and Nike led the DJIA to a small gain on Tuesday.
May 23, 2017: Markets opened higher again Tuesday but have not moved much higher as the session went on. The blue chips performed best with particular strength in financials. Tech stocks and consumer discretionaries are on track for a down finish. WTI crude oil for July delivery settled at $51.47 a barrel, up 0.7%. June gold dipped 0.5% for the day to settle at $1,255.60. Equities were headed for a mixed close shortly before the bell as the DJIA traded up 0.16% for the day, the S&P 500 traded up 0.14%, and the Nasdaq Composite traded down 0.01%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was The Goldman Sachs Group Inc. (NYSE: GS) which traded up 1.75% at $219.80. The stock’s 52-week range is $138.20 to $3255.15. Volume was about 30% below the daily average of around 3.7 million shares. The company had no specific news Monday.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.28% at $85.78. The stock’s 52-week range is $57.05 to $93.98. Volume was about 40% below the daily average of around 14.8 million shares. The big bank had no specific news.
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Caterpillar Inc. (NYSE: CAT) traded up 1.26% at $103.58. The stock’s 52-week range is $69.59 to $108.98. Volume was about 45% lower than the daily average of around 5.5 million shares. The company had no specific news Tuesday.
Nike Inc. (NYSE: NKE) traded up 1.17% at $52.17. The stock’s 52-week range is $49.01 to $60.33. Volume was about equal to the daily average of around 9.1 million. The company had no specific news.
Of the Dow stocks, 21 are on track to close higher Tuesday and 9 are set to close lower.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
