Boeing, IBM Dominate DJIA Wednesday
January 17, 2018 by Paul AusickJanuary 17, 2018: Markets opened higher Wednesday with the DJIA on its way to a close above 26,000. Even a weak fourth-quarter report from Goldman Sachs and more talk about a breakup of GE. The day’s best performing sectors were technology and consumer staples and every sector posted a gain for the day. WTI crude oil for February delivery settled at $63.97 a barrel, up 0.4% for the day. February gold dropped less than 0.1% on the day to settle at $1,338.30. Equities were headed for a higher close shortly before the bell as the DJIA traded up 1.28% for the day, the S&P 500 traded up 1.00%, and the Nasdaq Composite traded up 1.06%.
Bitcoin futures for January delivery traded at $10,675, down nearly 4.4% on the CME after opening at $11,190 this morning. The digital currency fell to $9,225 before recovering.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Boeing Co. (NYSE: BA) which traded up 4.28% at $349.50. The stock’s 52-week range is $156.75 to $349.57, and the high was posted this afternoon. Volume was about double the daily average of around 3.5 million shares. The company had no specific news.
International Business Machines Corp. (NYSE: IBM) traded up 3.16% at $169.02. The stock’s 52-week range is $139.13 to $182.79. Volume was about 60% above the daily average of around 5.3 million. The company had no specific news, but hopes among investors are higher for the company Q4 report due out after markets close Thursday.
Intel Corp. (NASDAQ: INTC) traded up 2.97% at $44.42. The stock’s 52-week range is $33.23 to $47.64. Volume was about a third below the daily average of around 32 million shares. The company had no specific news
UnitedHealth Group Inc. (NYSE: UNH) traded up 2.46% at $238.63. The stock’s 52-week range is $156.09 to $238.95, a new 52-week high set this afternoon. Volume was about 33% above the daily average of around 3 million shares. The company had no specific news Wednesday.
Of the Dow stocks, 26 are on track to close higher Wednesday and 4 are set to close lower.
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