December 11, 2015: Markets opened lower for a fifth consecutive day on Friday, and unlike yesterday, stayed in negative territory all day. Also unlike yesterday every market sector traded lower today. Today’s report from the International Energy Agency didn’t give equities a chance to trade up today. WTI crude for January delivery traded down 3.1% today to settle at $35.62 per barrel, and closed the week down 11%. Gold for February delivery traded up about 0.4% to settle at $1,075.70 for the day, but down 0.8% for the week. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.83% for the day, the S&P 500 traded down 2.01%, and the Nasdaq Composite traded down 2.27%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was E. I. du Pont de Nemours and Company (NYSE: DD) which traded down 5.77% at $70.25. The stock’s 52-week range is $47.11 to $76.59. Trading volume was more than 2.5 times the daily average of around 6.6 million. The company’s announced merger with Dow Chemical could not overcome its own downbeat comments on 2016 revenue growth.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 3.16% at $176.36. The stock’s 52-week range is $167.49 to $218.77. Trading volume was about 10% below the daily average of about 3 million. The investment bank had no specific news today.
JPMorgan Chase & Co. (NYSE: JPM) traded down 2.65% at $63.86. The stock’s 52-week range is $50.07 to $70.61. Trading volume was about 10% below the daily average of around 14.5 million. The company did not get a piece of the action in the Dow-DuPont merger.
Apple Inc. (NASDAQ: AAPL) traded down 2.63% at $113.13. The stock’s 52-week range is $92.00 to $134.54. Volume was about 15% below the daily average of around 46 million shares traded. The company had no specific news today.
Of the Dow 30 stocks 29 are set to close lower today and just 1 (Procter & Gamble) is on track to close higher.
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