The Dow closed the day up +53.51 (+0.40%) at 13,596.37.
CAT – Caterpillar, Inc. was the big Dow winner today, up +2.75%. Other Dow leaders included UTX, AA, DD, MMM and HD.
Dow losers were led by T (-2.33%), MRK, VZ, PFE, WMT and JNJ.
There were 11 Dow losers and 19 winners.
For the week, DJIA is up +2.2%, Nasdaq +1.5%, S&P 500 +1.9% and Russell 2000 +2.7%.
Year-to-date, DJIA is up 11.3%, Nasdaq 22.2%, S&P 500 +16.6% and Russell 2000 +16.7%.
Thankfully, the Russell 2000 is finally catching fire.
Home Depot Inc (HD) said it will close all seven of its big box stores and cut 850 jobs in China, another sign that companies are feeling the effects of a slowing Chinese economy.
The Federal Reserve’s data on industrial production for August showed a steeper-than-expected drop of 1.2%, while the preliminary edition of the University of Michigan’s Consumer Sentiment Index for September came in higher than expected. Data on July business inventories from the Census Bureau also exceeded forecasts.
UnitedHealth Group (UNH) was up on the news that it will join the Dow Jones industrial average, replacing Kraft Foods (KFT), starting Sept. 24. The index change comes as Kraft plans to spin off its North American grocery business, which will be renamed the Mondelez Group on Oct. 1.
Apple hit another new high today. That’s the one I think they should add to the Dow.