Boeing, Caterpillar Dominate the Dow Tuesday

April 10, 2018: Markets opened higher again Tuesday and, like Monday, the leading indexes managed to build on their early gains to stay in the green all day. Comments from China’s Xi Jinping indicating he would increase imports, speed up access to the country’s financial sector, do more to protect intellectual property, and lower tariffs and ease restrictions on car ownership all added up to smiles on Wall Street today.

WTI crude oil for May delivery settled at $65.51 a barrel, up 3.3% for the day. June gold added about 0.4% on the day to settle at $1,345.90. Equities were headed for a second straight higher close about 10 minutes before the bell as the Dow traded up 1.86% for the day, the S&P 500 traded up 1.74%, and the Nasdaq Composite traded up 2.17%.

Bitcoin futures (XBTJ8) for April delivery traded at $6,850, up about 3.2% on the CBOE after opening at $6,670 this morning. The digital currency’s trading range for the day was $6,640 to $6,880.

The Dow stock posting the largest daily percentage gain ahead of the close Tuesday was The Boeing Co. (NYSE: BA) traded up 3.81% at $334.76. The stock’s 52-week range is $175.47 to $371.60. Volume was about 25% below the daily average of around 6.4 million.  The company reported first quarter deliveries this morning and Airbus has reportedly stopped working on a rival to Boeing’s expected new middle market airplane.

DowDuPont Inc. (NYSE: DWDP) traded up 3.53% at $65.94. The stock’s 52-week range is $59.29 to $77.08. Volume was about 20% below the daily average of around 9.3 million. The company had no specific news Tuesday.

Caterpillar Inc. (NYSE: CAT) which traded up 3.47% at $148.04. The stock’s 52-week range is $92.98 to $173.24. Volume was about half the daily average of around 6.4 million shares. The company had no specific news, but the the Chinese President’s words did the trick.

Exxon Mobil Corp. (NYSE: XOM) traded up 3.31% at $77.35 in a 52-week range of $72.16 to $89.30. Volume of about 15 million shares was less than 10% below the daily average. The company is reportedly talking to Qatar officials about a deal for some U.S. natural gas assets — and the price of oil is up more than 5% in the first two days of the week..

Of the Dow stocks, 29 are on track to close higher Tuesday and just one (Nike) is set to close lower.

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