December 14, 2016: Markets opened slightly higher Wednesday but the FOMC announcement set shares below the break-even line in mid-afternoon and they never recovered. Only the tech sector traded (just barely) in the green late in the afternoon and the day’s big losers were utilities, energy and real estate stocks. WTI crude oil for January delivery settled at $51.04 a barrel, down 3.7% on the day. February gold added 0.4% on the day to settle at $1,163.70. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.41% for the day, the S&P 500 traded down 0.62%, and the Nasdaq Composite traded down 0.28%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Caterpillar Inc. (NYSE: CAT) which traded down 2.22% at $93.89. The stock’s 52-week range is $56.36 to $97.40. Volume was about 20% below the daily average of around 5.3 million shares. The company had no specific news.
Exxon Mobil Corp. (NYSE: XOM) traded down 1.87% at $90.85. The stock’s 52-week range is $71.55 to $95.55. Trading volume was about 15% below the daily average of around 11.4 million. The company had no specific news, but the declining crude price took a bite out of the share price.
Verizon Communications Inc. (NYSE: VZ) traded down 1.32% at $51.67. The stock’s 52-week range is $43.79 to $56.95. Volume was about 15% above the daily average of around 14.4 million shares. The company had no specific news Wednesday.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 1.18% at $73.86. The stock’s 52-week range is $50.88 to $75.67. Volume was about 75% higher than the daily average of around 2.9 million shares. The company had no specific news Wednesday.
Of the Dow 10 stocks 23 are on track to close higher Wednesday and 20 are set to close lower.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
