June 15, 2017: The S&P 500 closed lower, down 0.2% at 2,432.37. The DJIA closed down 0.08% at 21,357.43. Separately, the Nasdaq closed down 0.5% at 6,165.81.
Thursday was a down day for the U.S. broad markets with all the major indices posting a loss on the day. FANG stocks seemed to lead the charge down with Facebook, Alphabet, Amazon, and Apple all posting losses for the day, although these were much worse earlier in the day. Grocery stocks were hit hard as well after Kroger posted less than favorable earnings sending a shockwave across the industry. Major financial stocks and oil stocks in general also dragged the markets down. Perhaps the only positive performing areas in the market were aerospace & defense stocks, industrials, and utilities.
Crude oil fell off a cliff on Wednesday and continued falling on Thursday. It was last trading down 0.8% at $44.38.
Gold continued to drop and last seen down 1.6% at $1,255.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Thursday was The Kroger Co. (NYSE: KR) which traded down about 19% at $24.50. The stock’s 52-week range is $24.54 to $37.97. Volume was over 75 million versus the daily average of 8.7 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Thursday was Frontier Communications (NASDAQ: FTR) which rose about 4% to $1.33. The stock’s 52-week range is $1.19 to $5.22. Volume was over 25 million on the day compared to the average of 46.3 million.
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