Investing
Boeing, Caterpillar Prop Up the Dow Thursday
Published:
Last Updated:
May 18, 2018: Markets opened lower again Friday and while the Dow hugged the break-even line all day, the S&P 500 and the Nasdaq Composite remained in the red for the entire trading session. U.S. trade talks with China have hit a bump in the road and negotiations with Mexico and Canada on revisions to NAFTA missed a deadline of sorts Thursday. Friday’s best performing sector was industrials, probably thanks to Deere & Co. earnings, while the energy performed the most poorly.
WTI crude oil for June delivery settled at $71.28 a barrel, down about 0.3% for the day but up about 0.8% for the week. June gold added nearly 0.2% on the day to settle at $1,291.30 but closed the week down 2.2%. Equities were headed for a mixed close about 10 minutes before the bell as the Dow traded up 0.06% for the day, the S&P 500 traded down 0.20%, and the Nasdaq Composite traded down 0.26%.
Bitcoin futures (XBTM8) for June delivery traded at $8,250, up about 0.3% on the CBOE after opening at $8,150 this morning. The trading range today was $7,940 to $8,295.
The Dow stock posting the largest daily percentage gain ahead of the close Friday was The Boeing Co. (NYSE: BA) which traded up 2.00% at $351.04 in a 52-week range of $176.77 to $371.60. Volume was about 25% below the daily average of around 5.1 million shares. The company had no specific news, but Reuters is reporting that arch-rival Airbus is about to lose a large order to Boeing’s 787 Dreamliner.
Caterpillar Inc. (NYSE: CAT) traded up 1.35% at $155.76. The stock’s 52-week range is $101.27 to $173.24. Volume was about 40% below the daily average of around 5.4 million. The company had no specific news today, but like Boeing is likely getting a bump from Deere’s earnings.
The Home Depot Inc. (NYSE: HD) traded up 1.13% at $187.43. The stock’s 52-week range is $144.25 to $207.61. Volume was about 40% below the daily average of 5 million. The company had no specific news.
Nike Inc. (NYSE: NKE) traded up 0.55% at $71.33. The stock’s 52-week range is $50.35 to $71.60. Volume was about 40% below the daily average of around 7.2 million shares. The company had no specific news.
Of the Dow stocks, 9 are on track to close higher Friday and 21 are set to close lower.
24/7 Wall St.Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
