May 13, 2016: Markets opened slightly lower Friday as the dollar strengthened and oil prices dipped. By late afternoon every sector traded in the red for the day with financials, industrials, and consumer staples leading the drop. WTI crude oil for June delivery settled at $46.21 a barrel, down about 1.1% for the day but up 3.5% for the week. June gold added 0.1% on the day to settle at $1,272.70, but lost 1.7% for the week. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.02% for the day, the S&P 500 traded down 0.83%, and the Nasdaq Composite traded down 0.41%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was Wal-Mart Stores Inc. (NYSE: WMT) which traded down 2.80% at $64.98. The stock’s 52-week range is $56.30 to $79.94. Trading volume was about 30% above the daily average of around 8.9 million. The retailing giant had no specific news Friday, but will be one of the big retailers reporting quarterly results next week, and investors wanted to get as far away as possible from that sector in the session’s trading.
Caterpillar Inc. (NYSE: CAT) traded down 2.11% at $70.19. The stock’s 52-week range is $56.36 to $89.62. Volume was about 15% below the daily average of around 6 million shares. The heavy equipment maker had no specific news.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 1.96% at $63.02. The stock’s 52-week range is $47.11 to $75.72. Volume was less than half daily average of around 3.4 million shares. The industrial giant had no specific news Friday.
The Boeing Co. (NYSE: BA) traded down 1.78% at $132.03. The stock’s 52-week range is $102.10 to $150.59. Trading volume was more than 25% lower than the daily average of around 4.7 million. The aerospace giant had no specific news Friday.
Of the Dow 30 stocks 26 are set to close lower Friday and 4 are on track to close higher.
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