Boeing, Caterpillar Lift the Dow Monday

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May 21, 2018: Markets opened higher Monday following a weekend where tensions with China over tariffs and trade eased substantially even though no final deal appears to be near.  10-Year Treasury yields remain above 3% and the dollar traded higher. All equity sectors except healthcare were trading higher as Monday’s regular session wound down.

WTI crude oil for June delivery settled at $72.24 a barrel, up about 1.4% for its highest settlement since November 2014. June gold dropped less than 0.1% on the day to settle at $1,2990.90 but closed the week down 2.2%. Equities were headed for a higher close about 10 minutes before the bell as the Dow traded up 1.10% for the day, the S&P 500 traded up 0.62%, and the Nasdaq Composite traded up 0.36%.

Bitcoin futures (XBTM8) for June delivery traded at $8,390, up about 1.7% on the CBOE after opening at $8,500 this morning. The trading range today was $8,335 to $8,610.

The Dow stock posting the largest daily percentage gain ahead of the close Friday was The Boeing Co. (NYSE: BA) which traded up 3.49% at $363.49 in a 52-week range of $182.52 to $371.60. Volume was just above the daily average of around 5.16 million shares. The company had no specific news, but an easing of tensions with China helps this country’s largest exporter.

Caterpillar Inc. (NYSE: CAT) traded up 2.13% at $159.02. The stock’s 52-week range is $101.81 to $173.24. Volume was about equal to the daily average of around 5.4 million. The company had no specific news today, but another big exporter gets a bump from the easing of tensions with China.

United Technologies Corp. (NYSE: UTX) traded up 2.15% at $127.88. The stock’s 52-week range is $109.10 to $139.24. Volume was about 10% below the daily average of around 4.5 million shares. The company had no specific news.

General Electric Co. (NYSE: GE) traded up 1.64% at $15.22. The stock’s 52-week range is $12.73 to $29.47. Volume was about 15% below the daily average of 71.6 million. The company announced a deal for its transportation division this morning.

Of the Dow stocks, 27 are on track to close higher Monday and just 3 are set to close lower.