DJIA Today: Dow Jones Futures Rebound From Worst Session in Nearly a Month

Dow industrials were back in positive territory on Tuesday, reflecting renewed optimism on Wall Street following the market’s worst performance since the US election.

Futures on the blue-chip Dow Jones index traded 36 points higher at the end of New York trading. The Dow Jones Industrial Average climbed 23.70 points, or 0.1%, to close at 19,121.60. The index declined around 55 points on Monday, knocking it from all-time highs.

dow

Thirteen blue-chip companies contributed to the gains. UnitedHealth Group Inc. (NYSE: UNH), a Minnesota-based pharmaceutical, led the way higher on a gain of 3.6%. Aerospace and defense contractor Boeing Co (NYSE: BA) was also among the top performers, rising 1.3%.

Pharmaceutical Pfizer Inc. (NYSE: PFE) rose 1.2%, multinational investment bank Goldman Sachs Group Inc. (NYSE: GS) added 1% and technology giant Microsoft Corp (NASDAQ: MSFT) finished 0.8% higher.

On the downside, oil companies Chevron Corp (NYSE: CVX) and Exxon Mobil Corp (NYSE: XOM) were both losers as oil prices collapsed ahead of a key OPEC summit on Wednesday. Chevron was the Dow’s worst performer, falling 1.1%. Exxon Mobil declined 0.7%.

Credit card American Express (NYSE: AXP), construction equipment manufacturer Caterpillar Inc. (NYSE: CAT) and athletic apparel company Nike Inc. (NYSE: NKE) each declined by at least 0.7%.

The dominance of technology and biotechnology shares briefly sent the Nasdaq Composite to new all-time highs. The index closed settled well off its record, adding 11.11 points, or 0.2%, to 5,379.92. Meanwhile, the large-cap S&P 500 Index advanced 2.94 points, of 0.1%, to close at 2,204.66.

Wall Street bounced back from its worst performance in nearly a month, bolstered by upbeat GDP data and renewed hopes for a faster recovery under the Republican administration of Donald Trump. US gross domestic product (GDP) accelerated 3.2% year-over-year in the third quarter, up from a preliminary estimate of 2.9%, the Commerce Department said in a report on Tuesday.

Across the Atlantic, European equities finished mostly higher on Tuesday. The Stoxx Europe 600 index closed with a 0.1% gain. Individual bourses in Germany, France and Spain also finished higher. The UK’s FTSE 100 was the main laggard, falling 0.4%.

EconomicCalendar.com provides the latest economic news and financial events that move the market.

About the author

Sam Bourgi

Sam Bourgi is a financial market analyst for economiccalendar.com. He has more than six years of progressive experience in economic and financial analysis, research consulting and sectoral analysis. As a published author in government, peer-reviewed, online and industry sources, he has developed a fundamental approach to the financial markets with a broad focus on stock indices, commodities and the technology sector. He earned his Bachelor’s Degree from the University of Windsor and Master’s degree from McMaster University.

Indices

NamePrice($)CommentChange($)Change %
S&P 5002,215+2.29+0.10%
NASDAQ5,331-2.24-0.04%
NYSE10,995+24.68+0.23%
FTSE 1006,891.24+111.40+1.64%
DAX10,977.18+201.86+1.87%
CAC 404,685.78+53.84+1.16%
EURONEXT 100897.64+6.48+0.73%
Nikkei 22518,496.69+136.15+0.74%
HANG SENG INDEX22,800.92+125.77+0.55%

Commodities

NamePrice($)Change($)Change %Comment
Light Sweet Crude Oil Futures,D47.48-0.01-0.02%
Gold Dec 161,176.10+8.50+0.73%
Silver Dec 1617.10+0.36+2.15%
Copper Dec 162.62-0.05-1.82%