August 8, 2017: The S&P 500 closed down 0.2% at 2,474.99. The DJIA closed down 0.15% at 22,085.94. Separately, the Nasdaq closed down 0.2% at 6,370.46.
Tuesday started out as a relatively positive day for the U.S. broad markets but as it went on everything seemed to grind to a halt. Crude oil pushed slightly lower on the day still hanging just below the $50 price level, although some of the smaller oil & gas stocks took this on the chin. Separately, the tech and health care sectors were largely negative on the day, while the financial and services sectors were somewhat mixed. The only real winner on the day seemed to be utilities. Although it also seems that recent comments by President Trump about North Korea have helped to push the market lower.
Crude oil was last seen down 0.6% at $49.10.
Gold was down 0.4% at $1,259.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Albemarle Corp. (NYSE: ALB) which traded down over 6% at $115.34. The stock’s 52-week range is $75.11 to $119.99. Volume was about 5.2 million versus the daily average of 1.1 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Tuesday was Michael Kors Holdings Limited (NYSE: KORS) which rose over 22% to $45.45. The stock’s 52-week range is $32.38 to $52.67. Volume was nearly 14 million compared to its average volume of 2.5 million.
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