The 4 Stocks That Sank the DJIA on Friday

Investing

Published: May 29, 2015 4:01 pm

Last Updated: April 28, 2020 6:17 am

May 29, 2015: Markets opened lower on Friday following a disappointing second estimate on U.S. first quarter GDP. Chicago’s PMI dropped more than expected and the consumer sentiment index slipped as higher gasoline prices took their toll. Crude oil gained about 4% today to finish the month with a gain of 1.1% and the week with a gain of about 1%. Shortly before the closing bell the DJIA traded down 0.40% for the day, the S&P 500 traded down 0.40%, and the Nasdaq Composite traded down 0.35%.

The DJIA stock posting the largest daily percentage loss ahead of the close Friday was The Procter & Gamble Co. (NYSE: PG) which traded down 1.18% at $78.39. The stock’s 52-week range is $77.29 to $93.89. Trading volume totaled around 6.9 million shares, below the daily average of around 7.9 million. The company had no specific news today.

Visa Inc. (NYSE: V) traded down 1.11% at $68.79. The stock’s 52-week range is $48.80 to $70.69. Trading volume totaled more than 4 million shares, less than half the daily average of around 8.5 million. The company said today that it will reappraise its sponsorship of the FIFA.

The Boeing Co. (NYSE: BA) traded lower by 1.12% at $140.73. The stock’s 52-week range is $116.32 to $1158.83. Trading volume topped 3 million, but stayed below the daily average of around 3.9 million. Rival Airbus has announced that it will create a $150 million venture capital fund located in Silicon Valley.

General Electric Co. (NYSE: GE) traded down 0.87% at $27.39. The stock’s 52-week range is $23.41 to $28.68. Nearly 28 million shares traded hands today, well below the daily average of around 44 million. The company had no specific news today, but here’s our take on why the stock price has been lagging for so long.

Of the Dow 30 stocks 25 are set to close lower today and just 5 are on track to close higher.

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