September 28, 2015: Markets opened lower on Monday following a report that personal income rose just 0.3% in August, short of the expected 0.5% economists were looking for. Personal spending rose and personal savings fell in the month. Crude oil settled at $44.43, down 2.8% on the day and gold for December delivery settled at $1,131.70 an ounce, down 1.2%. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.64% for the day, the S&P 500 traded down 2.31%, and the Nasdaq Composite traded down 2.72%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Visa Inc. (NYSE: V) which traded down 4.80% at $67.30. The stock’s 52-week range is $48.80 to $76.92. Trading volume was more than 25% below the daily average of around 8.5 million. The company had no specific news today.
The Goldman Sachs Group Inc. (NYSE: GS) traded lower by 3.50% at $173.53. The stock’s 52-week range is $171.26 to $218.77. Trading volume was about 30% below the daily average of around 3 million. The company had no specific news today, but a report in Fortune magazine that Goldman’s P/E multiple is the lowest of any of the nation’s largest banks.
Pfizer Inc. (NYSE: PFE) traded down 3.36% at $30.82. The stock’s 52-week range is $50.07 to $70.61. Trading volume was about equal to the daily average of around 25 million. The drug maker had no specific news today, but was caught in a broad-based sell-off.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 2.47% at $47.35. The stock’s 52-week range is $47.21 to $76.59, and the low was set Monday afternoon. Trading volume was about 30% below the daily average of around 6.4 million. The company had no specific news today.
Of the Dow 30 stocks 27 are set to close lower today and 3 are on track to close lower.
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