August 24, 2016: Markets opened lower Wednesday and only the Nasdaq Composite made even a brief visit to positive territory during the day’s trading session. Healthcare and materials stocks led the losers and only the financial sector showed the tiniest bit of a positive move on the day. The news on home sales and mortgages was not uplifting and crude oil inventories rose last week, putting more pressure on prices. WTI crude oil for October delivery settled at $46.77 a barrel, down 2.8% for the day. December gold closed down 1.2% on the day to settle at $1,329.70. Equities were headed for a lower close shortly before the bell as the DJIA traded lower by 0.22% for the day, the S&P 500 traded down 0.35%, and the Nasdaq Composite traded down 0.57%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was UnitedHealth Group Inc. (NYSE: UNH) which traded down 1.69% at $139.59. The stock’s 52-week range is $107.51 to $144.48. Volume was about 50% below the daily average of around 3 million shares. The company had no specific news.
Merck & Co. Inc. (NYSE: MRK) traded down 1.39% at $62.69. The stock’s 52-week range is $47.97 to $64.00. Trading volume was about half the daily average of around 9.9 million. The company had no specific news Wednesday.
Caterpillar Inc. (NYSE: CAT) traded down 0.93% at $83.23. The stock’s 52-week range is $56.36 to $84.73. Volume was about 65% below the daily average of around 4.5 million shares. The heavy equipment maker had no specific news.
International Business Machines Corp. (NYSE: IBM) traded down 0.86% at $158.88. The stock’s 52-week range is $116.90 to $164.95. Volume was about 25% below the daily average of around 3.4 million shares. The company had no specific news Wednesday.
Of the 30 Dow index stocks 7 are on track to close higher Wednesday and 23 are set to close lower.
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.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
