The 4 Stocks That Sank the Market

Investing

Published: September 4, 2014 4:02 pm

Last Updated: April 28, 2020 6:19 am

September 4, 2014: Markets opened higher on Thursday following mixed reports on new claims for jobless benefits and employment. But the good start slipped to the downside by mid-afternoon. Energy stocks were particularly hard hit today as both natural gas and crude oil prices fell following inventory reports. Shortly before closing today the DJIA traded down 0.10% for the day, the S&P 500 traded down 0.20%, and the Nasdaq Composite traded down 0.23%.

The Dow 30 stock posting the biggest percentage loss again today was Chevron Corp. (NYSE: CVX) traded down 0.94% at $126.65 in a 52-week range of $109.27 to $135.10. The big oil company was hit by the downturn in energy prices today.Volume was about 30% below the daily average of around 5.1 million shares traded.

The Walt Disney Co. (NYSE: DIS) traded down 0.88% at $90.14 in a 52-week range of $60.63 to $91.20, with the high set earlier this morning. The company could face higher costs for its sports programming according to a report at Bloomberg. Trading volume was about 15% below the daily average of 5.8 million shares.

Exxon Mobil Corp. (NYSE: XOM) traded lower by 0.89% at $98.25 today. The stock’s 52-week range is $84.79 to $104.76. Volume was about 30% below the daily average of around 9.1 million shares traded. See the note on Chevron.

International Business Machines Corp. (NYSE: IBM) traded down 0.65% at $190.66 in a 52-week range of $172.19 to $199.21. Volume was about 25% below the daily average of around 3.6 million shares traded. The company had no news today.

Of the Dow 30 stocks 12 are set to close higher today and 18 are poised to close lower.

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