The 4 Stocks That Sank the DJIA on Monday

December 7, 2015: Markets opened lower on Monday even though markets in Asia and Europe were stronger overnight. The dollar gained strength again today, and 10-year Treasury yields rose, but commodities, particularly crude oil, were weak all day. WTI crude for January delivery traded down 5.8% today to settle at $37.65 per barrel, black gold’s lowest settlement in more than 6 years. Gold for February delivery traded down about 0.8% to settle at $1,075.20 for the day. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 0.70% for the day, the S&P 500 traded down 0.77%, and the Nasdaq Composite traded down 0.86%.

The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Exxon Mobil Corp. (NYSE: XOM) which traded down 2.89% at $76.58. The stock’s 52-week range is $6.55 to $95.18. Trading volume was nearly equal to the daily average of around 14 million. The oil & gas giant had no specific news today, but tumbling oil prices greased the slide.

Chevron Corp. (NYSE: CVX) traded down 2.65% at $87.33. The stock’s 52-week range is $69.58 to $114.45. Trading volume was about 15% above the daily average of about 10 million. The comment on Exxon applies equally to Chevron.

Caterpillar Inc. (NYSE: CAT) traded down 2.50% at $68.23. The stock’s 52-week range is $62.99 to $98.76. Trading volume was about 15% below the daily average of about 6.7 million. The heavy equipment maker had no specific news today, but low commodities prices typically suggest less mining and consequently lower demand for the heavy equipment Caterpillar makes.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 2.35% at $185.53. The stock’s 52-week range is $167.49 to $218.77. Volume was about 20% below the daily average of around 3 million shares traded. The investment bank has reduced its exposure to commodities, but still has some and that probably hurt the shares today. Goldman is the most heavily weighted stock in the DJIA with a weight of 7.11% of the index’s value.

Of the Dow 30 stocks 23 are set to close lower today and 7 are on track to close higher.

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