June 5, 2017: The S&P 500 closed slightly lower on the day, at 2,436.18. Separately the DJIA closed down 0.1% at 21,184.45. The Nasdaq also closed down 0.16% at 6,295.68.
Overall Monday was a relatively flat day for the broad markets. Despite crude oil sliding lower on the day, oil & gas stocks were relatively mixed, with the likes of Exxon actually posting a solid gain. Mega-cap tech stocks helped to stop the markets from losing any more on the day but some of the smaller chip makers in the index were negative. Apple saw an analyst call that it didn’t like and posted a loss of about 1% on the day that offset a lot of other stocks. The financial sector was only slightly better on the day, but not strong enough to push to equality. The utilities sector was relatively weak, along with some companies in the retail space. A few companies in the healthcare sector were also very negative as a result of the Annual Meeting of the American Society of Clinical Oncology (ASCO).
Crude oil started off positive on Monday but eventually turned negative as the day wore on. Crude was last trading down 0.6% at $47.38.
Gold closed only slightly higher up 0.1% at $1,281.60.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Monday was Incyte Corp. (NASDAQ: INCY) which traded down 5.7% at $124.02. The stock’s 52-week range is $71.75 to $153.15. Volume was about 3.7 million versus the daily average of 2.2 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Monday was Michael Kors Holdings Limited (NYSE: KORS), which rose 4.5% to $34.56. The stock’s 52-week range is $32.38 to $53.29. Volume was over 5 million on the day compared to the average of 2.2 million.
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