Boeing, Chevron Lift the Dow Monday
Boeing, UnitedHealth, American Express, and Chevron lifted the Dow index on Monday.
October 1, 2018: Markets opened higher Monday on news that the U.S. and Canada had salvaged a trade deal at the eleventh hour on Sunday. The Nasdaq Composite began sinking early on and looks to be headed for a flat close. The energy and basic materials sectors were the day’s best performers with real estate and telecom the laggards. Now, if only something would lead to a deal with China and Europe.
WTI crude oil for November delivery settled at $75.30 a barrel, up about 2.8% for the day for the highest close in nearly 4 years. December gold dropped about 0.4% to settle at $1,191.70. Equities were heading for a mixed close about 10 minutes before the bell as the Dow traded up 0.68% for the day, the S&P 500 traded up 0.33%, and the Nasdaq Composite traded down 0.13%.
Bitcoin futures (XBTV8) for October delivery traded at $6,535, down about 1.6% on the Cboe after opening at $6,570 this morning. The trading range today was $6,4600 to $6,630.
The Dow stock posting the largest daily percentage gain ahead of the close Monday was The Boeing Co. (NYSE: BA) which traded up 2.39% at $380.79, after posting a new 52-week high of $382.91. The stock’s 52-week low is $253.53. Volume was about 25% higher than the daily average of around 3 million. United Airlines ordered 9 more of the company’s 787 Dreamliners.
Chevron Corp. (NYSE: CVX) traded up 1.65% at $124.30 in a 52-week range of $108.02 to $133.88. Volume was about 30% below the daily average of around 5.3 million shares.
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American Express Co. (NYSE: AXP) traded up 1.31% at $107.88. The 52-week range on the stock is $87.54 to $111.77. Volume was about equal to the daily average of around 3 million.
UnitedHealth Group Inc. (NYSE: UNH) traded up 1.09% at $268.88. The stock’s 52-week range is $186.00 to $271.16. Volume was about equal to the daily average of around 2.4 million shares.
Of the Dow stocks, 22 were set to close higher Monday and 8 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.
