March 15, 2016: Markets opened lower again on Tuesday as crude oil prices continued a slide begun on Monday and the Census Bureau’s report on retail sales in February was a bit of disappointment. Japan’s central bank made no changes to its policy which took more steam out of the equity markets. Healthcare and basic materials were the big laggards in Tuesday’s trading and the tech sector led gainers with a modest 0.4% addition. WTI crude oil for April delivery settled at $36.34 a barrel, down 2.3%. April gold dropped 1.1% to settle at $1,231.00 for the day, the lowest settlement since March 1st. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded up 0.01% for the day, the S&P 500 traded down 0.32%, and the Nasdaq Composite traded down 51%. The blue-chip index could turn south again before the closing bell rings.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Apple Inc. (NASDAQ: AAPL) which traded up 2.18% at $104.75. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 30% below the daily average of around 48 million. Analysts at Morgan Stanley forecast that Apple would sell more iPhones in the quarter than had previously been expected.
Nike Inc. (NYSE: NKE) traded up 0.85% at $61.32. The stock’s 52-week range is $47.25 to $68.19. Volume reached about half the daily average of about 11 million shares. The athletic gear and apparel maker had no specific news Monday.
Wal-Mart Stores Inc. (NYSE: WMT) traded up 0.95% at $68.00. The stock’s 52-week range is $56.30 to $83.90. Trading volume was about half the daily average of around 12 million. The company said today that it now plans to remodel its Japanese stores instead of building new ones.
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The Travelers Companies Inc. (NYSE: TRV) traded up 0.98% at $113.92. The stock’s 52-week range is $95.21 to $116.48. Volume was about 25% below the daily average of around 2 million shares traded. The insurance company had no news Monday.
Of the Dow 30 stocks 11 are set to close higher on Tuesday and 17 are on track to close lower.
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