December 18, 2015: Markets opened lower on Friday and indexes remained in the red all day as financial, techs, and consumer discretionary discretionary stocks led the slide. European and Asian exchanges closed lower today, getting U.S. trading off to a poor start. WTI crude for January delivery lost about 0.6% today to settle at $34.73 per barrel, another daily low not seen since February of 2009. The January contract expires Monday and WTI is down about 2.5% for the week. Gold for February delivery traded up about 1.5% to settle at $1,065.00 for the day, but finished the week down about 1%. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.64% for the day, the S&P 500 traded down 1.31%, and the Nasdaq Composite traded down 1.17%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was The Goldman Sachs Group Inc. (NYSE: GS) which traded down 3.62% at $176.00. The stock’s 52-week range is $167.49 to $218.77. Trading volume was more than 50% above the daily average of around 3 million. The investment bank had no specific news today.
The Boeing Co. (NYSE: BA) traded down 3.54% at $140.41. The stock’s 52-week range is $115.14 to $158.83. Trading volume was nearly double the daily average of about 3.6 million. Analysts at Wells Fargo cut the stock’s rating to Hold today and yesterday’s announcement that Delta had purchased a used 777 for less than $10 million just added fuel to the flames.
The Walt Disney Co. (NYSE: DIS) traded down 3.40% at $108.20. The stock’s 52-week range is $90.00 to $122.08. Volume was more than double the daily average of around 8.7 million shares traded. The theatrical release of the latest Star Wars movie is expected to add a few billion dollars to Disney’s top line, but worries about pay TV subscriber numbers present a long-term threat to revenues and profits.
Intel Corp. (NASDAQ: INTC) traded down 2.38% at $34.08. The stock’s 52-week range is $24.87 to $37.74. Trading volume was about 10% below the daily average of around 27.5 million. The world’s largest chipmaker had no specific news today.
Of the Dow 30 stocks 28 are set to close lower today and just 2 are on track to close higher.
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