January 23, 2017: Markets opened slightly higher Monday but shares soon dipped below the break-even line and spent the rest of the day in the red. Most sectors are trading in the red, led by energy and industrials. Of S&P’s 11 sectors only real-estate is trade solidly in the green. WTI crude oil for March delivery settled at $52.75 a barrel, down about 0.9% on the day. February gold added 0.9% on the day to settle at $1,215.60. Equities were headed for a lower close close shortly before the bell as the DJIA traded down 0.08% for the day, the S&P 500 traded down 0.19%, and the Nasdaq Composite traded down 0.01%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was General Electric Co. (NYSE: GE) which traded down 2.78% at $29.68. The stock’s 52-week range is $76.55 to $90.33. Volume was about 50% higher than the daily average of around 32 million shares. The company had no specific news, but last Friday’s earnings report continues to weigh on the shares..
Merck & Co. Inc. (NYSE: MRK) traded down 1.07% at $61.86. The stock’s 52-week range is $47.97 to $65.46. Volume was about 30% lower than the daily average of around 11.6 million shares. The company had no specific news Monday.
Exxon Mobil Corp. (NYSE: XOM) traded down 1.06% at $84.98. The stock’s 52-week range is $73.55 to $95.55. Volume was about 30% below the daily average of around 11.3 million shares. The company had no specific news Monday.
The Boeing Co. (NYSE: BA) traded down 0.92% at $158.07. The stock’s 52-week range is $102.10 to $160.30. Volume was 15% below the daily average of around 3.5 million shares. The company had no specific news, but continuing noises about a trade war with China are not good for Boeing.
Of the Dow 30 stocks, 11 are on track to close higher Friday and 19 are set to close lower.
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