August 3, 2015: Markets opened slightly higher on Monday on mixed economic news. Personal income and spending came in near estimates, but spending was low and May spending was revised downward. If there is any inflation in the U.S. it is very stealthy indeed. Brent crude oil slipped below $50 a barrel today and WTI crude put up a new 52-week low of $45.11 a barrel. Shortly before the closing bell the DJIA traded down 0.65% for the day, the S&P 500 traded down 0.42%, and the Nasdaq Composite traded down 0.42%.

The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Chevron Corp. (NYSE: CVX) which traded lower by 3.27%% at $85.58. The stock’s 52-week range is $85.32 to $129.53, and the low was posted today. Trading volume was approaching double the daily average of around 7.4 million. The company posted a big loss Friday morning and coupled with today’s XX% drop in crude, the outlook for oil producers continues to be murky.

Apple Inc. (NASDAQ: AAPL) traded down 2.65% at $118.09. The stock’s 52-week range is $93.28 to $134.54. Trading volume was was about 30% above the daily average of around 45 million. Analysts at Canalys said today that Apple has given up its smartphone market share lead in China to domestic maker Xiaomi. In fact Apple is now number three, behind Huawei in sales to the Middle Kingdom.

International Business Machines Corp. (NYSE: IBM) traded down 2.12% at $158.56 The stock’s 52-week range is $149.52 to $195.00. Trading volume was slightly above the daily average of around 3.6 million. The company had no specific news today.

Caterpillar Inc. (NYSE: CAT) traded down 1.71% at $77.28. The stock’s 52-week range is $74.77 to $109.73. About 4 million shares traded hands today, around 15% below the daily average of about 4.8 million. The company has said it will move some jobs currently being housed in Mexico to a plant it owns in Victoria, Texas.

Of the Dow 30 stocks 21 are set to close lower today and 9 are on track to close higher.

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