November 11, 2015: Markets opened up on Wednesday but over the course of the day the markets drifted lower to close the day marginally negative. The dollar gained only slightly while equities traded sideways at the end of the day. WTI crude fell about 2.6% today to settle at $43.06 per barrel. Gold was lower at $1,084.10. Equities looked like they could end the day positive but these hopes were abandoned by the 3 o’clock hour.
Right before the closing bell the DJIA traded down nearly 56 points at 17,702.22 for the day. The S&P 500 traded down nearly 7 points at 2,075.00 and the Nasdaq Composite traded down 16 points to 5,067.02. The 10-year treasury yield supposedly increased by just over one basis point to 2.338%, but the bond market and banks were closed in observance of Veterans Day.
Nike, Inc. (NYSE: NKE) was the biggest drop of the Dow on Wednesday. The company was last seen down 2% at $127.42 right at the closing bell. The stock’s 52-week range is $90.69 to $133.52 and it is one of the more lightly weighted stocks in the DJIA accounting for about 4.89% of the index. Volume was at roughly 4.27 million just barely below the daily average of about 4.42 million shares traded.
Wal-Mart Stores Inc. (NYSE: WMT) traded down 1.87% at $57.58. The stock’s 52-week trading range is $56.77 to $90.97. Trading volume was about two-thirds of the daily average of about 12.17 million.
Merck & Co. (NYSE: MRK) traded down 1.3% at $53.72. The stock’s 52-week trading range is $45.69 to $63.62. Trading volume was 8.47 million out of the daily average of 13.41 million.
UnitedHealth Group Inc. (NYSE: UNH) traded down 1.16% at $114.54. The stock’s 52-week trading range is $94.52 to $126.21. Trading volume was about half of the daily average of about 4.52 million.
Out of the 30 Dow Stocks 20 of them were down on the day right at the closing bell.
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