Goldman Sachs, United Technologies Dominate DJIA Wednesday
September 27, 2017: Markets opened higher again Wednesday and, unlike Tuesday’s trading, the gains improved throughout the day. The report on durable goods orders came in above expectations and the dip in crude oil inventories helped edge oil prices higher. The financial and tech sectors posted solid gains while utilities and consumer staples lagged. WTI crude oil for November delivery settled at $52.14 a barrel, up 0.5% on the day. December gold dropped 1.1 to settle at $1,287.80. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.30% for the day, the S&P 500 traded up 0.48%, and the Nasdaq Composite traded up 1.29%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Goldman Sachs Co. (NYSE: GS) which traded up 2.37% at $235.40. The stock’s 52-week range is $157.77 to $255.15. Volume was nearly equal to the daily average of around 2.9 million. The investment bank had no specific news Wednesday.
United Technologies Inc. (NYSE: UTX) traded up 2.21% at $117.26. The stock’s 52-week range is $97.62 to $124.79. Volume was about 30% above the daily average of around 3.3 million shares. The industrial giant had no specific news.
JPMorgan Chase & Co. (NYSE: JPM) traded up 1.98% at $95.56. The stock’s 52-week range is $65.35 to $95.72, a new 52-week high set this afternoon. Volume was about 10% below the daily average of around 12.7 million shares. The bank was hit with a $4 billion jury award today for mishandling an airline executive’s estate following his death without a will. Of the total, just $4.7 million is actual damages and the bank plans to appeal.
Microsoft Corp. (NASDAQ: MSFT) traded up 1.02% at $74.01. The stock’s 52-week range is $56.32 to $85.97. Volume was about 30% below the daily average of around 21 million shares. The company had no specific news Wednesday.
Of the Dow stocks, 18 are on track to close higher Wednesday and 12 are set to close lower.