August 2, 2017: The S&P 500 closed relatively flat at 2,477.51. The DJIA closed up 0.2% at 22,016.04. Separately, the Nasdaq closed relatively flat at 6,362.65.
Wednesday’s session saw the Dow hit a new all-time high almost solely on the back of Apple, which had a gain of more than 5% on the day. Although Apple did not make the biggest percentage gain in the S&P 500 it made perhaps the largest addition to its market cap in the index (roughly $40 billion) and now there is serious talk of the company reaching the $1 trillion mark. Analysts are calling for this stock to continue roaring higher as well. Separately, crude oil continued on its path towards the $50 price mark, but there were mixed reactions among oil & gas stocks. In terms of sector performance, Industrial goods were the only positive one out of the ten. The tech sector was largely negative on the day while the rest were relatively mixed.
Crude oil was last seen up 0.7% at $49.52, getting even closer to the $50 price level.
Gold was down 0.5% at $1,273.20.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Range Resources Corp. (NYSE: RRC) which traded down about 12% at $17.90. The stock’s 52-week range is $17.68 to $43.60. Volume was about 25 million versus the daily average of 5.6 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Illumina, Inc. (NASDAQ: ILMN) which rose over 14% to $197.85. The stock’s 52-week range is $119.37 to $198.47. Volume was nearly 5 million compared to its average volume of 993,592.
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