June 15, 2016: Markets opened higher Wednesday on hopes that the the FOMC meeting would leave interest rates unchanged, the outcome most people expected and the actual outcome as it turned out. More FOMC coverage here. Only the healthcare and utilities sectors finished in the red today, while basic materials and consumer discretionary stocks led the indexes higher. WTI crude oil for July delivery settled at $48.01 a barrel, down 1% for the day. August gold added less than 0.1% on the day to settle at $1,288.30. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.16% for the day, the S&P 500 traded down 0.15%, and the Nasdaq Composite traded down 0.16%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Intel Corp. (NASDAQ: INTC) which traded down 1.62% at $31.62. The stock’s 52-week range is $24.87 to $35.59. Volume was about 20% below the daily average of around 21.6 million shares.The chipmaker had no specific news Wednesday.
Cisco Systems Inc. (NASDAQ: CSCO) traded down 1.23% at $28.60. The stock’s 52-week range is $22.46 to $29.49. Trading volume was around 10% above the daily average of about 22 million shares. The stock took a downgrade from Goldman Sachs this morning.
Chevron Corp. (NYSE: CVX) traded down 0.61% at $100.66. The stock’s 52-week range is $69.58 to $104.26. Volume was about 30% below the daily average of around 7 million shares. The supermajor oil company had no specific news Wednesday.
Pfizer Inc. (NYSE: PFE) traded down 0.63% at $34.77. The stock’s 52-week range is $28.25 to $36.46 Trading volume was about 60% below the daily average of around 41 million. The drugmaker had no specific news Wednesday.
Of the Dow 30 stocks 21 are set to close lower Wednesday and 9 are on track to close higher.
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