June 17, 2014: Markets opened lower on Tuesday after a weakish report on single-family housing starts and a bigger increase in the consumer price index than economists had been expecting. Shortly before the closing bell the DJIA traded up 0.23% for the day, the S&P 500 was up 0.25%, and the Nasdaq Composite traded up 0.47%.
Financials led the DJIA higher today as The Goldman Sachs Group Inc. (GS) posted the biggest gain among the index stocks. Shares traded up 1.63% today at $168.56 in a 52-week range of $148.71 to $181.13. Volume was about 20% below the daily average of nearly 3 million shares. There was no news other than Nomura’s reiteration of its Neutral rating on the stock and a $1 per share boost to the price target to $156.
The Home Depot Inc. (HD) traded higher for the second day in a row. The home improvement store’s stock traded up 1.38% at around $79.99 in a 52-week range of $72.21 to $83.20. Volume was about 10% below the daily average of around 6.5 million shares traded. An encouraging report from the National Association of Home Builders yesterday is still propping up the stock today.
The Coca-Cola Co. (KO) traded higher by 0.58% at $40.90 in a 52-week range of $36.83 to $41.44. Volume was nearly double the daily average of nearly 14 million shares traded. The shares spiked this morning on speculation that Warren Buffett would take the soft-drink maker private. When Buffett said “no chance,” the shares cooled off.
Visa Inc. (NYSE: V) traded at $211.23, up 0.47% in a 52-week range of $170.99 to $235.50. Share volume was about 50% lower than the daily average of around 3.3 million shares traded. The company had no news today but followed the trend in financial stocks.
Of the Dow 30 stocks 15 looked to close higher today while 13 were on their way to a lower finish and 2 stocks were aimed to close flat.
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