Intel, Goldman Sachs Push the Dow Higher Tuesday
Intel, Home Depot, Goldman Sachs, and American Express did the heavy lifting and pushed the Dow to a gain on Tuesday.
August 21, 2018: Markets opened higher again Tuesday and all three major indexes are once more looking to close the day in the green. The S&P 500 posted a new intraday high just one day ahead of the trading session that will mark the longest ever, uninterrupted bull market in history. Energy and telecom stocks led Tuesday’s run higher while defensive stocks lagged.
WTI crude oil for September delivery settled at $67.35 a barrel, up 1.4% on its expiration day. October crude closed up 0.6% at $65.84 a barrel. December gold added 0.5% to settle at $1,200.00. Equities were heading for a higher close about 10 minutes before the bell as the Dow traded up 0.29% for the day, the S&P 500 traded up 0.24%, and the Nasdaq Composite traded up 0.49%.
Bitcoin futures (XBTU8) for September delivery traded at $6,435, down about 0.3% on the CBOE after opening at $6,395 this morning. The trading range today was $6,205 to $6,465.
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The Dow stock posting the largest daily percentage gain ahead of the close Tuesday was Intel Corp. (NASDAQ: INTC) which traded up 2.49% at $47.66 in a 52-week range of $34.38 to $57.60. Volume was about 40% below the daily average of around 25.8 million shares.
The Goldman Sachs Group Inc. (NYSE: GS) traded up 1.50% at $239.31. The stock’s 52-week range is $214.64 to $275.31. Volume was about 30 % below the daily average of around 2.9 million shares.
The Home Depot Inc. (NYSE: HD) traded up 1.21% at $200.32. The stock’s 52-week range is $147.43 to $207.61. Volume was about 35% below the daily average of around 4 million.
American Express Co. (NYSE: AXP) traded up 1.14% at $104.99. The 52-range on the stock is $84.02 to $105.25, and the high was posted today. Volume was about 25% below the daily average of 3.4 million.
Of the Dow stocks, 19 were set to close higher Tuesday and 11 were on track to close lower.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
