Apple, Chevron Push the Dow Higher Tuesday

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WTI crude oil for August delivery settled at $70.53 a barrel, up about 3.6% on the day. August gold dropped about 0.7% to settle at $1,259.90, the yellow metal’s lowest settlement to date in 2018. Equities were headed for a higher close about 10 minutes before the bell as the Dow traded up 0.12% for the day, the S&P 500 traded up 0.19%, and the Nasdaq Composite traded up 0.35%.

Bitcoin futures (XBTN8) for July delivery traded at $6,180, down about 1.3% on the CBOE after opening at $6,235 this morning. The trading range today was $6,125 to $6,280.

The Dow stock posting the largest daily percentage gain ahead of the close Tuesday was Apple Inc. (NASDAQ: AAPL) which traded up 1.62% at $185.12. The 52-range on the stock is $142.28 to $194.20. Volume of around 18.6 million was about a third below the daily average of about 29.4 million. The company had no specific news.

Chevron Corp. (NYSE: CVX) traded up 1.34% at $124.25 in a 52-week range of $102.55 to $133.88. Volume was less than half the daily average of around 6.8 million shares. Oil producers got a boost from higher crude prices and a California judge’s dismissal of a climate change lawsuit against the companies.

Exxon Mobil Corp. (NYSE: XOM) traded up 1.17% at $80.67. The stock’s 52-week range is $72.16 to $89.30. Volume was about 40% below the daily average of around 13.4 million shares. The company had no specific news but got the same boosts as Chevron.

Visa Inc. (NYSE: V) traded up 1.33% at $132.67. The stock’s 52-week range is $93.19 to $136.69. Volume was about 15% below the daily average of around 7.4 million. The company said this morning that it will add $600 million to its litigation escrow fund, a move it claims has the same effect as a share repurchase.

Of the Dow stocks, 19 are on track to close higher Tuesday and 11 are set to close lower.