February 24, 2017: Markets opened lower Friday probably as traders book profits from a long winning streak. There was little economic news Friday and no major earnings reports. The energy and financial sectors dragged the markets down, offsetting a solid gain in utilities and a smaller lift in telecom. WTI crude oil for April delivery settled at $53.99 a barrel, down 0.4% on the day. April gold added 0.6% on the day to settle at $1,258.30 to close the week up 1.6%. Equities were headed for a mixed close shortly before the bell as the DJIA traded down 0.07% for the day, the S&P 500 traded up 0.01%, and the Nasdaq Composite traded up 0.02%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was The Goldman Sachs Group Inc. (NYSE: GS) which traded down 1.69% at $246.94. The stock’s 52-week range is $138.20 to $252.62. Volume was about 25% below the daily average of around 4 million shares. The company had no specific news.
JPMorgan Chase & Co. (NYSE: JPM) traded down 1.22% at $90.02. The stock’s 52-week range is $56.29 to $91.34. Volume was about 25% below the daily average of around 16 million shares. The company had no specific news.
Exxon Mobil Corp. (NYSE: XOM) traded down 1.10% at $80.88. The stock’s 52-week range is $80.05 to $95.55. Volume was about 30% below the daily average of around 11.7 million shares. The company had no specific news Friday.
Chevron Corp. (NYSE: CVX) traded down 1.14% at $109.75. The stock’s 52-week range is $83.07 to $119.00. Volume was about 30% below the daily average of around 6.5 million shares. The company reported solid profits Tuesday morning
Of the Dow 30 stocks, 13 are on track to close higher Friday and 17 are set to close lower.
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