2024-05-06 19:13:02 ET
U.S. Federal Reserve left its benchmark overnight borrowing rate unchanged but kept hopes of rate cuts in the coming months alive on May 1 st ( read more ). Here are the three most active stocks on Dow Jones since the central bank’s announcement.
Chevron Corp (NYSE: CVX)
Chevron has been an active Dow Jones stock since the Fed’s announcement because the energy giant relies on debt financing for capital expenditures.
Plus, it pays a healthy dividend yield of just over 4.0% at writing which will turn all the more attractive for investors once the U.S. central bank begins to cut interest rates.
Lower rates also tend to spur economic activity that typically delivers a boost to oil demand and by extension revenue of an energy giant like Chevron.
$CVX trading volume sits at 8.427 million at writing.
Apple Inc (NASDAQ: AAPL)
Apple is being actively traded since the Fed’s rate decision this month since it’s a tech behemoth that invests rather aggressively in pursuit of growth.
And the cost of borrowing money to make those investments will cut significantly once the interest rates start to move lower.
$AAPL, however, has been in focus recently also because it reported its financial results for the second quarter on May 2 nd ( find out more ).
Trading volume of Apple Inc is at 76.481 million at writing and the stock is up roughly 7.0% since the start of this month.
Walt Disney Co (NYSE: DIS)
Disney has been among the most active stocks on Dow Jones after U.S. Fed kept interest rates unchanged last week.
That’s partly because accelerated consumer spending typically follows rate cuts which could be a benefit for the mass media and entertainment conglomerate.
$DIS is scheduled to report its financial results for the second quarter on May 7th. Consensus is for it to earn $1.11 per share versus 93 cents a share last year.
Ahead of the earnings report, Disney stock ended today with trading volume 16.198 million. It’s up close to 30% versus its year-to-date low at writing.
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