Apple, Disney Buoy the Dow Thursday

Print Email

September 27, 2018: Markets higher again Thursday and while the gains are drifting downward, it doesn’t appear that we’re going to see a repeat of yesterday’s last-minute sell-off. The final report on Q2 GDP showed growth at 4.2%, unchanged from the prior estimate. Tech stocks and utilities have had the best gains today while basic materials stocks lagged.

WTI crude oil for November delivery settled at $72.12 a barrel, up about 0.8% for the day. December gold dropped about 1% to settle at $1,187.40. Equities were heading for a higher close about 10 minutes before the bell as the Dow traded up 0.21% for the day, the S&P 500 traded up 0.29%, and the Nasdaq Composite traded up 0.69%.

Bitcoin futures (XBTV8) for October delivery traded at $6,505, up about 0.5% on the Cboe after opening at $6,440 this morning. The trading range today was $6,410 to $6,520.

The Dow stock posting the largest daily percentage gain ahead of the close Thursday was Apple Inc. (NASDAQ: AAPL) which traded up 3.08% at $225.02 in a 52-week range of $150.24 to $229.67. Volume was about 20% below the daily average of around 27.9 million shares. J.P. Morgan initiated coverage on the company this morning.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) traded up 1.25% at $73.87. The stock’s 52-week range is $59.07 to $80.68. Volume was about 60% lower than the daily average of around 7 million.

Nike Inc. (NYSE: NKE) traded up 0.80% at $84.37. The 52-week range on the stock is $50.35 to $86.04. Volume was about 30% below the daily average of around 7 million.

The Walt Disney Co. (NYSE: DIS) traded up 0.73% at $116.05. The stock’s 52-week range is $96.80 to $117.90. Volume was about 20% below the daily average of around 6.9 million shares.

Of the Dow stocks, 17 were set to close higher Thursday and 13 were on track to close lower.

I'm interested in the Newsletter