June 13, 2014: Markets opened higher on Friday and even a weak report on consumer sentiment couldn’t keep equities down for long this morning. All three major indexes were pointed at weekly decline ranging from around 0.3% to nearly 1%. Shortly before the closing bell the DJIA traded up 0.13% for the day, the S&P 500 was up 0.8%, and the Nasdaq Composite traded up 0.19%.
Today’s big gainer among the Dow 30 was Intel Corp (INTC) which traded up 6.54% at around $29.81 in a 52-week range of $21.89 to $30.06, a new 52-week high. Volume was about 4-times the daily average of around 29.5 million shares traded. The world’s largest chipmaker raised its forecasts after markets closed on Thursday.
Microsoft Corp. (MSFT) traded up 1.36% today at $41.15 in a 52-week range of $30.84 to $41.66. Volume was about 35% below the daily average of nearly 33 million shares. Intel’s improved outlook is a positive for Microsoft and its legacy PC business.
Telecom behemoth AT&T Inc. (NYSE: T) traded higher by 0.63% at $35.03 in a 52-week range of $31.74 to $36.86. Volume was about 40% below the daily average of nearly 27 million shares traded. The company had no new today, but was the beneficiary of today’s overall interest in technology and telecom stocks.
Chevron Corp. (CVX) traded at $126.98, up 0.68% in a 52-week range of $109.27 to $127.83. Share volume was about 35% lower than the daily average of around 5.6 million shares traded. The company sold some assets in Chad for $1.3 billion. The sale combined with the rising price of crude gave Chevron a solid lift today.
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Of the Dow 30 stocks 16 looked to close higher today while 14 were on their way to a higher finish.