December 17, 2015: Markets opened higher on Thursday but the end came quickly for the gains. After about half an hour of trading, the three major indices had tumbled to a loss on the day, where they remained for the rest of the session. Utilities and Treasuries were up, and that was about it. WTI crude for January delivery lost about 1.6% today to settle at $34.95 per barrel, a level not seen seen February of 2009. Gold for February delivery traded down about 2.5% to settle at $1,049.60 for the day, the yellow metal’s lowest settlement since October of 2009. Equities were also headed for a lower close shortly before the closing bell as the DJIA traded down 0.98% for the day, the S&P 500 traded down 1.08%, and the Nasdaq Composite traded down 0.97%.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was Caterpillar Inc. (NYSE: CAT) which traded down 3.89% at $65.10. The stock’s 52-week range is $62.99 to $94.66. Trading volume was about 15% below the daily average of about 6.9 million. The company had no specific news today, but falling commodity prices are not good for the mining and heavy equipment maker.
Chevron Corp. (NYSE: CVX) traded down 2.37% at $91.23. The stock’s 52-week range is $69.58 to $114.45. Trading volume was about equal to the daily average of around 10.6 million. Lower crude and natural gas prices hit Chevron stock hard again today..
Merck & Co. Inc. (NYSE: MRK) traded down 1.83% at $53.03. The stock’s 52-week range is $45.69 to $63.62. Volume was about 20% below the daily average of around 12 million shares traded. The drug maker had no specific news today.
Wal-Mart Stores Inc. (NYSE: WMT) traded down 1.82% at $59.21. The stock’s 52-week range is $56.30 to $90.97. Trading volume was about 20% below the daily average of around 12.4 million. The world’s largest retailer had no specific news today.
Of the Dow 30 stocks 27 are set to close lower today and 3 are on track to close higher.
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