February 8 2016: Markets opened lower again on Monday as continued fallout from Friday’s U.S. employment situation raised concerns about the U.S. economy in Asia and Europe. The worst performing sector today has been basic materials, with financials and consumer discretionary stocks not far behind. WTI crude oil for March settled at $29.69, down 3.9% today. April gold added 3.5% to settle at $1,197.90 for the day, it’s highest settlement price since last June. Equities were 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 1.27%, and the Nasdaq Composite traded down 1.67%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Visa Inc. (NYSE: V) which traded down 4.82% at $68.09. The stock’s 52-week range is $60.00 to $81.01. Volume was more than double the daily average of around 10 million shares traded. The credit card issuer had no specific news today, but then none was necessary for the financial sector to dive by nearly 3.5%.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 4.54% at $149.36. The stock’s 52-week range is $145.25 to $218.77. Trading volume was more than double the daily average of around 3.7 million. The most heavily weighted stock on the DJIA took a big hit today, along with most other financial sector stocks.
The Home Depot Inc. (NYSE: HD) traded down 4.23% at $111.51. The stock’s 52-week range is $92.17 to $135.47. Volume was about 35% above the daily average of around 6 million shares. The home improvement giant had no specific news today.
Nike Inc. (NYSE: NKE) traded down 3.71% at $55.05. The stock’s 52-week range is $45.35 to $68.19. Trading volume was nearing double the daily average of around 10 million. The athletic gear had no news today, but the consumer discretionary sector was the third-biggest loser of the day, behind only materials and financials.
Of the Dow 30 stocks 21 are set to close lower today and 9 are on track to close higher.
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