April 13, 2018: Markets opened higher again Friday but sank into the red later in the morning. JPMorgan reported a big earnings beat this morning and both Citi and Wells Fargo also posted better-than-expected results. Political stories (Trump pardons Scooter Libby, Trump reconsiders TPP, Trump wants a deal with China) dominated the days news though and a rumored possible firing of Deputy Attorney General Rod Rosenstein could cap an already eventful week.
WTI crude oil for May delivery settled at $67.39 a barrel, up 0.5% for the day and up about 8.6% for the week. The IEA said this morning that global supply of and demand for oil is coming into balance. June gold added about 0.5% on the day to settle at $1,347.90 to close the week up 0.8%. Equities were headed for a lower close about 10 minutes before the bell as the Dow traded down 0.63% for the day, the S&P 500 traded down 0.38%, and the Nasdaq Composite traded down 0.53%.
Bitcoin futures (XBTJ8) for April delivery traded at $8,090, up about 5.1% on the CBOE after opening at $7,790 this morning. The digital currency’s trading range for the day was $7,740 to $8,230.
The Dow stock posting the largest daily percentage loss ahead of the close Friday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 3.61% at $109.28. The stock’s 52-week range is $81.64 to $119.33. Volume was about 45% lower than the daily average of around 16.4 million shares. The big bank reported solid results this morning, but apparently not enough for investors.
The Boeing Co. (NYSE: BA) traded down 2.79% at $328.08. The stock’s 52-week range is $175.47 to $371.60. Volume was about 40% below the daily average of around 6.4 million. The company had no specific news Friday.
Intel Corp. (NASDAQ: INTC) traded down 1.97% at $51.68 in a 52-week range of $33.23 to $53.78. Volume of about 16 million shares was about 55% below the daily average. The company had no specific news.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.86% at $254.78. The stock’s 52-week range is $209.62 to $262.50. Volume was about 30% below the daily average of around 3.6 million. The company had no specific news Friday.
Of the Dow stocks, 8 are on track to close higher Friday and 22 are set to close lower.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
