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Investing

The 4 Stocks That Tanked Wednesday’s Market

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By Paul Ausick Updated Published
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January 14, 2015: Markets opened lower on Wednesday after the Commerce Department’s report on retail sales came in below expectations. The crude oil inventory report came in at an 80-year high, but traders bid up WTI prices by more than 3% late in the session. Shortly before the closing bell the DJIA traded down 1.11% for the day, the S&P 500 traded down 0.56%, and the Nasdaq Composite traded down 0.50%.

The DJIA stock posting the largest daily loss ahead of the close Tuesday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 3.50% at $56.78. The stock’s 52-week range is $52.97 to $63.49. Trading volume was more than double the daily average of around 15.4 million shares. The bank’s earnings announcement was not well-received today.

Wal-Mart Stores Inc. (NYSE: WMT) traded lower by 2.87% at $86.75. The stock’s 52-week range is $72.27 to $90.97. Trading volume was about 15% above the daily average of around 7.6 million shares. The company had no news today, but is probably taking some lumps over the weak retail sales report released earlier today.

American Express Co. (NYSE: AXP) traded down 2.56% at $86.95. The stock’s 52-week range is $78.41 to $96.24. Trading volume was about 15% above the daily average of around 4 million shares. The company had no significant news today but is being hauled down by Morgan.

Visa Inc. (NYSE: V) traded down 1.99% at $255.58. The stock’s 52-week range is $194.84 to $269.32. Trading volume is about equal to the daily average of around 2.8 million shares. Poor retail sales translates to lower credit card usage for the most heavily weighted of the Dow 30 stocks.

Of the Dow 30 stocks 27 are set to close lower today and just 3 are on track to close higher.

ALSO READ: The Most Dangerous States in America

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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