September 1, 2016: Markets opened higher Thursday but the major indexes had little luck holding onto the gains, meager as they were. Energy again was the poorest performing sector with financials not far behind. Friday’s report on non-farm payrolls is expected to show a gain of 175,000 jobs and an unemployment rate of 4.8%, down from 4.9% in July. WTI crude oil for October delivery settled at $43.16 a barrel, down 3.5% for the day. December gold closed up 0.4% on the day to settle at $1,317.10. Equities were headed for a mixed close shortly before the bell as the DJIA traded down by 0.03% for the day, the S&P 500 traded down 0.13%, and the Nasdaq Composite traded up 0.15%. The DJIA could swing back to a tiny gain in the final few minutes of trading Thursday.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was American Express Co. (NYSE: AXP) which traded down 1.23% at $64.78. The stock’s 52-week range is $50.27 to $78.40. Volume was about 40% below the daily average of around 4.5 million shares. The company announced a deal with Delta Private Jets yesterday, but it got less attention than a similar deal between Visa and ride-hailing company Uber.
Caterpillar Inc. (NYSE: CAT) traded down 0.82% at $81.28. The stock’s 52-week range is $56.36 to $84.73. Volume was about 25% below the daily average of around 4.4 million shares. The heavy equipment maker twists in the winds blown by oil prices and the prospect of more exploration for oil.
Chevron Corp. (NYSE: CVX) traded down 0.64% at $99.94. The stock’s 52-week range is $74.31 to $107.58. Trading volume was about 35% below the daily average of around 6.4 million. The energy supermajor had no specific news, but Thursday’s sharp drop in crude prices hit the Dow stocks hard.
Exxon Mobil Corp. (NYSE: XOM) traded down 0.61% at $86.61. The stock’s 52-week range is $71.55 to $95.55. Volume was about 35% below the daily average of around 10.7 million shares. The resemblance to Chevron’s daily performance are not coincidental.
Of the 30 Dow index stocks 15 are on track to close higher Thursday and 15 are set to close lower.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.