May 29, 2018: Markets opened lower for a third straight session on Tuesday as traders chose to worry about what’s going on in Italy. The big fear is that Italians may do the British one better and withdraw from the eurozone. Then the White House announced that Trump is going ahead with tariffs on some Chinese goods which is sure to spark a retaliatory move by the Chinese. The financials and industrials sectors took the biggest hits today.
WTI crude oil for July delivery closed at $66.73 a barrel, down about 1.7% for the day. August gold dropped about 0.4% on the day to settle at $1,304.10. Equities were headed for a lower close about 10 minutes before the bell as the Dow traded down 1.72% for the day, the S&P 500 traded down 1.31%, and the Nasdaq Composite traded down 0.64%.
Bitcoin futures (XBTM8) for June delivery traded at $7,485, up about 0.9% on the CBOE after opening at $7,275 this morning. The trading range today was $7,055 to $7,560.
The Dow stock posting the largest daily percentage loss ahead of the close Tuesday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 4.60% at $105.57. The stock’s 52-week range is $81.64 to $119.33. Volume was 70% above the daily average of around 14.3 million shares. The bank had no specific news, but Tuesday was not a good day to be a bank.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 3.69% at $226.33 in a 52-week range of $209.62 to $275.31. Volume was about 35% above the daily average of around 3.1 million shares. The investment bank had no specific news.
American Express Co. (NYSE: AXP) traded down 3.56% at $97.50. The stock’s 52-week range is $75.98 to $103.24. Volume was about 25% below the daily average of around 3.5 million. The company had no news Tuesday.
General Electric Co. (NYSE: GE) traded down 3.11% at $14.18. The stock’s 52-week range is $12.73 to $29.47. Volume was about 15% below the daily average of around 71.3 million. The company had no specific news Tuesday.
Of the Dow stocks, just one (Coca-Cola) is on track to close higher Tuesday and 29 are set to close lower.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.