March 31, 2016: Markets opened higher again on Thursday but only the Nasdaq Composite was able to hold on for a modest gain on the day. The only sector to trade higher for the day was utilities and the big loser was basic materials. The dollar was weaker as well, adding to the lack of enthusiasm for commodities and energy. WTI crude oil for May delivery settled at $38.34 a barrel, up 2 cents for the day, and up a very solid 13.5% for the month of March and a nice 3.5% for the first quarter. June gold added 0.6% to settle at $1,235.60 for the day, up 16.4% for the quarter, the best quarterly gain in nearly 20 years. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded down 0.1% for the day, the S&P 500 traded down 0.05%, and the Nasdaq Composite traded up 0.19%. The Dow trades just fractionally lower, so the final bell might find the final reading on the other side of the break-even line.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was Pfizer Inc. (NYSE: PFE) which traded down 1.38% at $29.66. The stock’s 52-week range is $28.25 to $36.46. Trading volume was about 15% below the daily average of around 42 million. The FTC has requested more information from Pfizer regarding its merger with Allergan.
The Boeing Co. (NYSE: BA) traded down 1.15% at $127.10. The stock’s 52-week range is $102.10 to $155.50. Volume was about equal to the daily average of around 6.4 million shares. The company on Wednesday announced 4,000 job losses this year with another 4,000 possible.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 1.08% at $63.48. The stock’s 52-week range is $42.11 to $75.72. Trading volume was about 50% below the daily average of around 5 million. The industrial giant had no specific news Thursday.
Nike Inc. (NYSE: NKE) traded down 0.93% at $61.46. The stock’s 52-week range is $47.25 to $68.19. Volume was about half the daily average of around 10.5 million shares traded. The athletic gear maker had no specific news Thursday.
Of the Dow 30 stocks 19 are set to close lower on Thursday and 11 are on track to close higher.
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
