Investing
The 4 Stocks That Held the DJIA Down on Monday
Published:
Last Updated:
May 9, 2016: Markets opened mixed on Monday as traders tried to judge the impact of the massive wildfire that has struck the Canadian oil sands region and the city of Fort McMurray, Alberta. Healthcare and tech stocks boosted the Nasdaq Composite index, and it didn’t dip into the red the whole day. The S&P 500 spend a couple of brief periods in the red Monday, but the Dow spent most of the day trying to overcome the hits to energy and mining stocks. WTI crude oil for June delivery settled at $43.44 a barrel, down about 2.7% for the day. June gold fell 2.1% on the day to settle at $1,266.60. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded down 0.11% for the day, the S&P 500 traded up 0.17%, and the Nasdaq Composite traded up 0.43%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Caterpillar Inc. (NYSE: CAT) which traded down 3.31% at $70.93. The stock’s 52-week range is $56.36 to $89.62. Trading volume was about 35% above the daily average of around 6 million. The heavy equipment maker was hit hard today by the loss of conviction in higher oil prices.
Chevron Corp. (NYSE: CVX) traded down 1.34% at $100.50. The stock’s 52-week range is $69.58 to $109.30. Trading volume was about 35% below the daily average of around 9 million. The energy giant had no specific news Monday, but falling crude price coupled with a bombing at one of its platforms offshore of Nigeria are not share price boosters.
United Technologies Corp. (NYSE: UTX) traded down 0.99% at $100.12. The stock’s 52-week range is $83.39 to $119.66. Volume was about 40% below the daily average of around 5.7 million shares. The company’s Pratt & Whitney engine division received FAA approval for a new engine, but continuing issues with its geared turbo-fan engine has raised concerns that some customers may flee.
The Boeing Co. (NYSE: BA) traded down 0.85% at $132.13. The stock’s 52-week range is $102.10 to $150.59. Volume was about 40% below the daily average of around 5.8 million shares. Analysts at Goldman Sachs say the company will be forced to cut 777 production again.
Of the Dow 30 stocks 16 are set to close lower Monday and 14 are on track to close higher.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
