October 3, 2016: Markets opened lower Monday following a nice gain on Friday. No sector traded in the green this afternoon, with real estate and utilities the laggards. Profit taking or a more bearish turn? There are plenty of reasons for investors to be cautious. WTI crude oil for November delivery settled at $48.24 a barrel, up 0.9% for the day. WTI futures gained 1.2% for the day and settled at $48.81 a barrel. December gold closed down 0.3% on the day to settle at $1,312.70. Equities were headed for a lower close shortly before the bell as the DJIA traded down by 0.24% for the day, the S&P 500 traded down 0.30%, and the Nasdaq Composite traded down 0.21%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was The Travelers Companies Inc. (NYSE: TRV) which traded down 1.25% at $113.11. The stock’s 52-week range is $100.48 to $119.32. Trading volume was less than 30% below the daily average of around 1.4 million. The insurance company had no specific news Monday.
The Procter & Gamble Co. (NYSE: PG) traded down 1.21% at $88.65. The stock’s 52-week range is $72.50 to $90.22. Volume was about 30% higher than the daily average of around 18.5 million shares. The company officially shed its Cover Girl and 40 other beauty and cosmetics lines this morning.
UnitedHealth Group Inc. (NYSE:UNH) traded down 1.19% at $138.34. The stock’s 52-week range is $107.51 to $144.48. Volume was about 25% below the daily average of around 2.9 million shares. No specific news on the health insurance giant either.
International Business Machines Corp. (NYSE: IBM) traded down 0.71% at $157.73. The stock’s 52-week range is $116.90 to $165.00. Volume was about half the daily average of around 1.7 million shares. The technology company had no specific news Monday.
Of the 30 Dow index stocks 8 are on track to close higher Monday and 22 are set to close lower.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
