Boeing, Apple Dominate the Dow on Friday
September 15, 2017 by Paul AusickSeptember 15, 2017: Markets opened mixed Friday but by noon all three major indexes were trading in positive territory. This morning’s economics reports were mixed, with retail sales coming in below estimates. The telecom sector posted a solid gain, while healthcare and consumer discretionary lagged. WTI crude oil for October delivery settled at $49.89 a barrel, flat on the day, but up more than 5% for the week. December gold dropped 0.3% to settle at $1,325.20, down about 1.9% for the week. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.28% for the day, the S&P 500 traded up 0.12%, and the Nasdaq Composite traded up 0.28%.
The DJIA stock posting the largest daily percentage gain ahead of the close Friday was The Boeing Co. (NYSE: BA) which traded up 1.70% at $249.40. The stock’s 52-week range is $126.34 to $2449.95, a new high posted this afternoon. Volume was about 70% above the daily average of around 3.6 million shares. The company upped 787 production to 14 per month in 2019, an increase of 2 planes per month. The increase has been talked about for months.
Verizon Communications Inc. (NYSE: VZ) traded up 1.25% at $47.77. The stock’s 52-week range is $42.80 to $54.83. Volume was about 15% above the daily average of around 14 million. The company last night that it plans to cut $10 billion in spending over the next four years and return more cash to shareholders.
Apple Inc. (NASDAQ: AAPL) traded up 1.09% at $160.00. The stock’s 52-week range is $104.08 to $164.94. Volume was around 25% above the daily average of around 27 million shares. The company began taking orders today for the new Apple Watch Series 3, the iPhone 8, and the iPhone 8 Plus.
Intel Corp. (NASDAQ: INTC) traded up 1.08% at $36.88. The stock’s 52-week range is $33.23 to $38.45. Volume was about equal to the daily average of around 21.8 million shares. The company had no specific news.
Of the Dow stocks, 21 are on track to close higher Friday and 9 are set to close lower.
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