The 4 Stocks That Sank the Dow on Wednesday

Investing

Published: May 20, 2015 4:01 pm

Last Updated: April 28, 2020 6:19 am

May 20 2015: Markets opened mixed on Wednesday and the indexes bounced around the break-even line until the Fed minutes were announced in mid-afternoon. Equities bounced higher when it became clear that an interest rate hike is unlikely to take place in June. All the equity sectors had posted gains by late afternoon and crude oil closed higher following a 2.7 million barrel draw on inventories last week. Indexes appear headed for a mixed close to match the mixed open. Shortly before the closing bell the DJIA traded down 0.12% for the day, the S&P 500 traded down 0.04%, and the Nasdaq Composite traded up 0.12%.

The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was E.I. du Pont de Nemours and Co. (NYSE: DD) which traded lower by 0.79% at $70.69. The stock’s 52-week range is $63.70 to $80.65. Trading volume was about 35% below the daily average of around 6 million shares. The company had now specific news today, but may still be feeling some effects from the recent smackdown of Trian Management’s board of directors’ candidates.

JPMorgan Chase & Co (NYSE: JPM) traded down 0.79% at $66.48. The stock’s 52-week range is $53.98 to $67.19. Trading volume was about 40% below the daily average of around 15 million shares. The company had no specific news today. The bank was included in the $5.6 billion fine from the U.S. Justice Department that was announced today.

McDonald’s Corp. (NYSE: MCD) traded down 0.60% at $100.08. The stock’s 52-week range is $87.62 to $102.98. Trading volume was about 15% below the daily average of around 5.4 million shares. The company had no specific news today, but the institution of a $15/hour minimum wage in Los Angeles is likely weighing on the stock today.

Wal-Mart Stores Inc. (NYSE: WMT) which traded down 0.67% at $75.92. The stock’s 52-week range is $72.61 to $90.97. Trading volume was about 25% above the daily average of around 6.9 million shares. The company missed estimates yesterday and the Los Angeles wage hike is not good news for the world’s largest retailer either.

Of the Dow 30 stocks 16 are set to close lower today and 14 are on track to close higher.

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