October 24, 2016: Markets opened higher Monday following the weekend’s announcements of several big mergers and a solid earnings report from DJIA component 3M. Several big tech names are due out this week, led by Apple on Tuesday with Amazon and Google out Thursday. WTI crude oil for December delivery settled at $50.52 a barrel, down 0.7%. December gold slipped 0.4% on the day to settle at $1,263.70. Equities were headed for a higher close before the bell as the DJIA traded up 0.42% for the day, the S&P 500 traded up 0.44%, and the Nasdaq Composite traded up 0.91%.
The DJIA stock posting the largest daily percentage gain ahead of the close Monday was Microsoft Corp. (NASDAQ: MSFT) which traded up 2.07% at $60.90. The stock’s 52-week range is $48.04 to $60.93, and the high was posted late Monday. Volume of 39.5 million was more than 1.5 times the daily average of around 24.3 million shares. The software giant had no specific news Monday.
The Boeing Co. (NYSE: BA) traded up 1.44% at $137.58. The stock’s 52-week range is $102.10 to $150.59. Trading volume was about equal to the daily average of around 3.1 million. The aerospace giant had no specific news.
Wal-Mart Stores Inc. (NYSE: WMT) traded up 1.16% at $69.13. The stock’s 52-week range is $56.30 to $75.19. Volume was about 40% below the daily average of around 8.5 million shares. The retail giant had no news Monday.
The Coca-Cola Co. (NYSE: KO) traded up 1.01% at $42.56. The stock’s 52-week range is $40.75 to $47.13. Volume was about 20% below the daily average of around 11.8 million shares. The soft drinks maker had no specific news Monday.
Of the 30 Dow index stocks 21 are on track to close higher Monday and 9 are set to close lower.