Caterpillar, Procter & Gamble Weigh on the Dow Thursday

Investing

Published: May 31, 2018 4:02 pm

Last Updated: January 11, 2020 10:55 pm

May 31, 2018: Markets opened mixed Thursday with the Dow and the S&P 500 giving ground most of the day and the Nasdaq Composite wobbling around the break-even line. Trump’s decision to impose tariffs on steel imported from Canada, Mexico, and the European Union have re-ignited fears of a full-on trade war. Only the tech sector is showing a small gain for the day while the industrials, consumer staples, and telecom sectors are all trading at least 1% lower.

WTI crude oil for July delivery closed at $67.04 a barrel, down about 1.7% for the day after the Energy Information Administration reported on last week’s inventory changes. August gold dropped about 0.1% on the day to settle at $1,304.70. Equities were headed for a lower close about 10 minutes before the bell as the Dow traded down 1.02% for the day, the S&P 500 traded down 0.69%, and the Nasdaq Composite traded down 0.29%.

Bitcoin futures (XBTM8) for June delivery traded at $7,565, up about 3% on the CBOE after opening at $7,340 this morning. The trading range today was $7,330 to $7,640.

The Dow stock posting the largest daily percentage loss ahead of the close Thursday was Caterpillar Inc. (NYSE: CAT) traded down 2.24% at $151.97. The stock’s 52-week range is $102.30 to $173.24. Volume was about 40% below the daily average of around 5.3 million. A trade war is not a good thing for industrial products that use a lot of steel.

The Procter & Gamble Co. (NYSE: PG) which traded down 2.23% at $73.22 in a 52-week range of $40.73 to $94.67. Volume was about 20% below the daily average of around 9.6 million shares. The company had no specific news.

Verizon Communications Inc. (NYSE: VZ) traded down 1.70% at $47.78. The stock’s 52-week range is $42.80 to $54.77. Volume was about 30% below the daily average of around 15 million. The company had no specific news Thursday.

Walmart Inc. (NYSE: WMT) traded down 1.75% at $82.63. The stock’s 52-week range is $73.13 to$109.98. Volume was about 30% below the daily average of around 10.5 million shares. The giant retailer announced a concierge service today.

Of the Dow stocks, just 2 are on track to close higher Thursday and 28 are set to close lower.

ALSO READ: 5 Stocks to Buy That Could Be Huge Summertime Winners

**************

Equity indexes traded very near the break-even line just minutes before the closing bell. The closing tally could show either a small gain or a small loss for any of the indexes.

Stocks traded very near the break-even line just minutes before the closing bell. The closing tally could finish with either a small gain or a small loss for any or all of the indexes.

Today’s four leading gainers account for more than 22% of the Dow’s price-weighted index.

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.