May 31, 2016: Markets opened higher Tuesday but only the Nasdaq Composite was able to hold above the break-even line in time for the closing bell. Only the counter-cyclical telecom and utilities sectors were showing a tiny gain in the last hour of trading. WTI crude oil for July delivery settled at $49.10 a barrel, down 0.5% for the day but up 6.9% for the month (based on the front month contract). June gold add less than 0.1% on the day to settle at $1,214.80, ending a long losing streak but ending the month down 5.9%. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded down 0.52% for the day, the S&P 500 traded down 0.13%, and the Nasdaq Composite traded up 0.17%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was The Boeing Co. (NYSE: BA) which traded down 2.30% at $126.25. The stock’s 52-week range is $102.10 to $150.59. Trading volume was about 10% above the daily average of around 4.4 million shares. The company announced another delay to its KC-46 military tanker program late last Friday.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 2.01% at $65.82. The stock’s 52-week range is $47.11 to $75.72. Trading volume was about 30% below the daily average of around 3.4 million. The company had no specific news Tuesday.
Nike Inc. (NYSE: NKE) traded down 1.65% at $55.26. The stock’s 52-week range is $47.25 to $68.19. Volume was about equal to the daily average of around 9.3 million shares. The sports gear maker had no specific news.
The Walt Disney Co. (NYSE: DIS) traded down 1.08% at $99.21. The stock’s 52-week range is $86.25 to $122.08. Volume was nearly equal to the daily average of around 7.3 million shares.The company’s new movie version of “Alice in Wonderland” did not live up to expectations on its premiere weekend.
Of the Dow 30 stocks 21 are set to close lower Tuesday and 9 are on track to close higher.
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