November 28, 2016: Markets opened lower Monday after a long weekend of eating and shopping. There was no economic news of note, so this may just be a pause in an equity price run-up that has been on a tear for more than two weeks. The financial and healthcare sectors led Monday’s drop-off while utilities posted a gain of nearly 2%. WTI crude oil for January delivery settled at $47.08 a barrel, up 2.2% on the day. February gold added 1.1% on the day to settle at $1,193.80. Equities were headed for a lower close before the bell as the DJIA traded down 0.24% for the day, the S&P 500 traded down 0.45%, and the Nasdaq Composite traded down 0.48%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Nike Inc. (NYSE: NKE) which traded down 1.09% at $50.96. The stock’s 52-week range is $49.01 to $68.19. Trading volume was about 35% below the daily average of around 9.3 million. The athletic gear maker had no specific news.
Visa Inc. (NYSE: V) traded down 0.96% at $79.36. The stock’s 52-week range is $66.12 to $83.96. Volume was about 30% below the daily average of around 9.1 million shares. The credit card company had no specific news Monday.
Merck & Co. Inc. (NYSE: MRK) traded down 0.84% at $61.69. The stock’s 52-week range is $47.97 to $65.46. Volume was about half the daily average of around 10.5 million shares. The FDA has granted the company a priority review of its Keytruda drug for certain types of lung cancer.
Johnson & Johnson (NYSE: JNJ) traded down 0.8% at $113.22. The stock’s 52-week range is $94.28 to $126.07. Volume was about 15% lower than the daily average of around 6.8 million shares. The pharmaceutical giant is in talks related to an acquisition of Europe’s Actelion..
Of the Dow 30 stocks 10 are on track to close higher Monday and 20 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
