November 20, 2017: Markets opened higher Monday and maintained a positive attitude throughout the first day of a holiday-shortened week. The next big economic news comes later next week when OPEC ministers meet in Vienna and decide whether or not to extend the production cuts beyond the end of March. The big question, of course, is what will Russia do? WTI crude oil for December delivery settled at $56.09 a barrel, down 0.8% for the day on the contract’s last trading day. December gold dropped 1.6% on the day to settle at $1,275.30. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.26% for the day, the S&P 500 traded up 0.09%, and the Nasdaq Composite traded up 0.04%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was Verizon Communications Inc. (NYSE: VZ) which traded up 1.91% at $46.29. The stock’s 52-week range is $42.80 to $54.83. Volume was less than 10% below the daily average of around 14.9 million shares. The telecom giant got a price target increase from analysts at Wells Fargo.
Cisco Systems Inc. (NASDAQ: CSCO) traded up 1.67% at $36.50. The stock’s 52-week range is $29.12 to $36.67. Volume was about 10% below the daily average of around 19 million shares. The company had no specific news Monday.
The Home Depot Inc. (NYSE: HD) traded up 1.59% at $170.41. The stock’s 52-week range is $127.41 to $170.68 and the high was posted today. Volume was about 20% below the daily average of around 4.5 million. The company had no specific news.
International Business Machines Corp. (NYSE: IBM) traded up 1.08% at $150.58. The stock’s 52-week range is $139.13 to $182.79. Volume was equal to the daily average of around 4.6 million shares. The company had no specific news.
Of the Dow stocks, 17 are on track to close higher Monday and 13 are set to close lower.