Boeing, 3M Dominate DJIA on Thursday
January 25, 2018 by Paul AusickJanuary 25, 2018: Markets opened higher Thursday but to of the three major indexes are headed for a lower close on the day. A few blue chip stocks stoked the DJIA to a triple-digit gain, after both Treasury Secretary Mnuchin and President Trump walked back Mnuchin’s comments that appeared to favor a weaker greenback.
WTI crude oil for March delivery settled at $65.51 a barrel, down a dime for the day as the stronger dollar cut into a high over $66 a barrel. February gold added about 0.5% on the day to settle at $1,362.90. Equities were headed for a mixed close shortly before the bell as the DJIA traded up 0.52% for the day, the S&P 500 traded up 0.06%, and the Nasdaq Composite traded down 0.12%.
Bitcoin futures for January delivery traded at $11,320, up about 1.8% on the CME after opening at $11,090 this morning. The digital currency’s trading range for the day was $10,830 to $11,710.
The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was
The Boeing Co. (NYSE: BA) which traded up 2.32% at $342.45. The stock’s 52-week range is $160.82 to $352.23. Volume was about equal to the daily average of around 3.9 million. The company had no specific news.
3M Company (NYSE: MMM) traded up 1.56% at $251.56. The stock’s 52-week range is $173.55 to $254.80, a new 52-week high posted this morning. Volume was about 50% above the daily average of around 2 million shares. The company posted solid earnings this morning.
Johnson & Johnson (NYSE: JNJ) traded up 1.49% at $144.18. The stock’s 52-week range is $111.60 to $148.32. Volume was nearly equal to the daily average of around 5.8 million shares. The company has withdrawn from the bidding for Pfizer’s consumer unit business, saving investors north of $20 billion.
United Technologies Corp. (NYSE: UTX) traded up 1.33% at $137.48. The stock’s 52-week range is $106.85 to $138.38. Volume was about 15% above the daily average of around 3.3 million shares. The company said on Wednesday it plans to repatriate at least $3 billion this year. Investors liked that.
Of the Dow stocks, 16 are on track to close higher Thursday and 14 are set to close lower.
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