Boeing, Apple Prop Up the Dow Wednesday

By Paul Ausick Updated Jan 11, 4:56PM EST · Published Oct 3, 4:01PM EDT

Boeing, Apple Prop Up the Dow Wednesday — © monsitj / Getty Images

October 3, 2018: Markets opened higher Wednesday following the latest report on non-farm payroll growth. Then things turned south late in the afternoon. The Dow threatened the 27,000 level but a late sell-off ended those aspirations with a 70-point drop. The 10-year Treasury yield climbed to nearly 3.17%, scaring traders out of equities, at least momentarily. Financial services and energy stocks were the day’s leading gainers, but defensive stocks got creamed.

WTI crude oil for November delivery settled at $76.41 a barrel, up 1.6% for the day, ignoring the largest build of the year to U.S. commercial crude inventories. December gold dropped about 0.3% to settle at $1,202.90. Equities were heading for a higher close about 10 minutes before the bell as the Dow traded up 0.18% for the day, the S&P 500 traded up 0.05%, and the Nasdaq Composite traded up 0.28%.

Bitcoin futures (XBTV8) for October delivery traded at $6,415, down about 1.8% on the Cboe after opening at $6,530 this morning. The trading range today was $6,355 to $6,530.

The Dow stock posting the largest daily percentage gain ahead of the close Wednesday was Caterpillar Inc. (NYSE: CAT) which traded up 1.96% at $157.85 in a 52-week range of $125.60 to $173.24. Volume was about 10% above the daily average of around 4.4 million shares.

The Boeing Co. (NYSE: BA) traded up 1.57% at $392.43. The stock’s 52-week range is $254.07 to $394.27, a new high set earlier this afternoon. Volume was about 20% higher than the daily average of around 3 million.

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Intel Corp. (NASDAQ: INTC) traded up 1.25% at $48.70. The 52-week range on the stock is $38.86 to $57.60. Volume was about 40% above the daily average of around 23.4 million.

Apple Inc. (NASDAQ: AAPL) traded up 1.21% at $232.05. The stock’s 52-week range is $150.24 to $233.47, a new high set this morning. Volume was about 15% below the daily average of around 28.2 million shares.

Of the Dow stocks, 12 were set to close higher Wednesday and 18 were on track to close lower.

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About the Author Paul Ausick →

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.