December 9, 2015: Markets opened lower for a third consecutive day on Wednesday but basic materials and energy led an upturn until about noon on the S&P 500and the DJIA, with the Nasdaq barely peeking above the breakeven line. But the afternoon session got that sinking feeling as crude prices fell even though today’s inventory report showed a decline in U.S. oil in storage. WTI crude for January delivery traded down 0.9% today to settle at $37.16 per barrel. Gold for February delivery traded up 0.1% to settle at $1,076.50 for the day. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 0.38% for the day, the S&P 500 traded down 0.77%, and the Nasdaq Composite traded down 1.54%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Apple Inc. (NASDAQ: AAPL) which traded down 2.33% at $115.48. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 20% below the daily average of around 47 million. The company had no specific news today, but led the general sell-off in the tech sector.
Nike Inc. (NYSE: NKE) traded down 2.25% at $128.74. The stock’s 52-week range is $90.69 to $135.30. Trading volume was about 40% below the daily average of about 4.5 million. The sports apparel company signed a massive lifetime endorsement deal (details withheld alas) with basketball star LeBron James on Tuesday.
Microsoft Corp. (NASDAQ: MSFT) traded down 1.51% at $54.95. The stock’s 52-week range is $39.72 to $56.23. Trading volume was about 15% below the daily average of about 35 million. The company had no specific news today.
Cisco Systems Inc. (NASDAQ: CSCO) traded down 1.51% at $26.74. The stock’s 52-week range is $23.03 to $30.31. Volume was about 35% below the daily average of around 27 million shares traded. The company had no specific news today.
Of the Dow 30 stocks 21 are set to close lower today and 9 are on track to close higher.
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