March 21, 2017: The S&P 500 closed lower on the day, down 1.24% and 29.46 points to 2,344.01. Separately the DJIA closed down 1.14% on the day at 20,668.01, down approximately 237.85 points. Prior to Tuesday’s close, the S&P 500 and the DJIA had gone 109 days without trading lower by 1%, a record which dates back to the 1990’s for each index.
Overall the market was down across the board with one clear-cut exception. The only sector that actually traded up on Tuesday was utilities. Beverages were positive as well but not as remarkable as utilities. On the other hand, the biggest loser on the day was the financial sector, with the major financial stocks trading down at least 2%. Aside from utilities and beverages the rest of the index was negative with a few scattered exceptions.
Crude oil is continuing to push below the $50 mark with another day of over a 1% loss, pushing down 1.5% $47.50.
Gold has continued to push above the $1,200 level, it rose 0.92% or $11.30, closing at $1,245.30.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Comerica Incorporated (NYSE: CMA) which traded down 6% at $66.38. The stock’s 52-week range is $36.27 to $75.00. Volume was 3.2 million versus the daily average of 1.6 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Tuesday was Chipotle Mexican Grill, Inc. (NYSE: CMG) which jumped 2.8% to $407.45. The stock’s 52-week range is $352.96 to $481.63. Volume was 1.1 million which is above the daily average of around 853,000 shares.
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