The 4 Stocks That Helped Push the Dow Even Lower on Friday

Investing

Published: November 13, 2015 4:24 pm

Last Updated: January 13, 2020 5:12 pm

November 13, 2015: Markets opened lower across the board on Friday after having originally been indicated marginally lower, over the course of the day they managed to make Friday the biggest loss of the week. The dollar backed off while WTI crude dropped roughly 2.5% today to settle just above $40 per barrel. Gold was ever so slightly higher at $1,081.50.

Equities were very weak going into the closing bell. The DJIA traded down 201 points at 17,246.17 for the day. The S&P 500 traded down 22 points at 2,023.17 and the Nasdaq Composite traded down 77 points to 4,927.88. The 10-year treasury yields came down a couple of basis points to 2.28%.

Cisco Systems, Inc. (NASDAQ: CSCO) was the biggest drag of the Dow on Friday. The networking equipment and services giant was last seen down 5.82% at $26.21 right at the closing bell. The stock’s 52-week range is $23.03 to $30.31 and it is the lightest weighted stock in the DJIA accounting for about 1.07% of the index. Volume was at roughly 80 million, almost triple the daily average of 28 million shares traded. This move was based on weak earnings and analyst downgrades.

Nike, Inc. (NYSE: NKE) traded down 3.27% at $121.86. The stock’s 52-week trading range is $90.69 to $133.52. Trading volume was nearly 7 million compared to the daily average of about 4.5 million. Over the course of this week, Nike has been one of the prime culprits that pulled the Dow lower.

The Home Depot, Inc. (NYSE: HD) traded down 3.08% at $120.00. The stock’s 52-week trading range is $92.17 to $126.12. Trading volume was about 6 million just above the daily average of 5.5 million. Considering the weak retail sales that we have seen this week and Home Depot’s earnings coming next Tuesday, it appears that the markets have corrected the stock’s price to reflect a weaker investor sentiment.

Apple Inc. (NASDAQ: AAPL) traded down 2.92% at $112.34. The stock’s 52-week trading range is $92.00 to $134.54. Trading volume was at roughly 42.7 million below its daily average of about 56.2 million shares.

Out of the 30 Dow stocks 25 were negative on the day right at the closing bell. 24/7 Wall St. recently tracked the Richest and Poorest Countries. Friday’s Top Analyst Upgrades and Downgrades which were Abbot, BioMarin, CBS, Cisco, GameStop, Petrobras, Sirius and many more.

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