July 21, 2016: Markets opened mixed Thursday but by late morning all three major indexes traded in the red. Leading the slide are the industrials, energy, and materials sectors, with only utilities and healthcare showing gains for the day. The dollar weakened against both the euro and the yen and initial claims for unemployment benefits came in below expectations. The low level of jobless benefits claims may indicate that job growth may slow down or cease. WTI crude oil for September delivery settled at $44.75 a barrel, down 2.2% for the day. August gold added 0.9% on the day to settle at $1,331.00. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.46% for the day, the S&P 500 traded down 0.41%, and the Nasdaq Composite traded down 0.36%.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was Intel Corp. (NASDAQ: INTC) which traded down 4.17% at $34.20. The stock’s 52-week range is $24.87 to $35.93. Trading volume was more than double the daily average of around 22.4 million. The chipmaker’s earnings announcement last night did not live up to expectations..
American Express Co. (NYSE: AXP) traded down 1.76% at $63.35. The stock’s 52-week range is $50.27 to $81.66. Volume was about 60% above the daily average of around 5 million shares. The company reported results last night that included higher costs that couldn’t be papered over with a share buyback.
Nike Inc. (NYSE: NKE) traded down 1.41% at $56.94. The stock’s 52-week range is $47.25 to $68.19. Volume was about 30% below the daily average of around 10.5 million shares. The athletic gear maker had no specific news.
The Home Depot Inc. (NYSE: HD) traded down 1.00% at $136.04. The stock’s 52-week range is $92.17 to $137.82. Trading volume was about equal to the daily average of 4.9 million shares. A major investor reportedly sold 11,390 call options with a strike price of $141 .
Of the 30 Dow index stocks 27 are on track to close lower Thursday and 3 are set to close higher.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
