April 28, 2016: Markets opened lower Thursday after the Bank of Japan made no move to cut its interest rate and the dollar fell in response. The first estimate of U.S. first quarter GDP rang in at 0.5%, a little short of estimates and a sort of vindication of the FOMC decision announced Wednesday not to raise interest rates. Tech and consumer discretionary sectors led Thursday’s slide. WTI crude oil for June delivery settled at $46.03 a barrel, up 1.5% for the day, and the highest closing price since November. June gold added 1.3% on the day to settle at $1,266.40. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.09% for the day, the S&P 500 traded down 0.89%, and the Nasdaq Composite traded down 1.00%.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was Apple Inc. (NASDAQ: AAPL) which traded down 2.81% at $95.07. The stock’s 52-week range is $92.00 to $132.97. Trading volume was 90% above the daily average of around 38 million. Activist investor Carl Icahn has sold his entire stake (45.8 million shares) in the company.
Cisco Systems Inc. (NASDAQ: CSCO) traded down 2.50% at $27.92. The stock’s 52-week range is $22.46 to $29.90. Volume was nearly equal to the daily average of around 25.8 million shares traded. The networking company had no specific news Thursday.
24/7 Wall St.The Home Depot Inc. (NYSE: HD) traded down 2.15% at $132.83. The stock’s 52-week range is $92.17 to $137.00. Trading volume was about 20% below the daily average of around 5 million. The home improvement company had no specific news Thursday.
Microsoft Corp. (NASDAQ: MSFT) traded down 2.02% at $49.94. The stock’s 52-week range is $39.72 to $56.85. Volume was about 10% below the daily average of around 35 million shares. The software company had no specific news Thursday.
All 30 DJIA stocks are set to close lower today.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.