August 17, 2016: Markets opened slightly lower Wednesday following a slide in European markets. Utility stocks were the leading sector while consumer discretionary stocks weighed most heavily. WTI crude oil for September delivery settled at $46.79 a barrel, up 0.5% for the day. December gold closed down 0.6% on the day to settle at $1,348.80. Equities were headed for a slightly higher close shortly before the bell as the DJIA traded higher by 0.15% for the day, the S&P 500 traded up 0.21%, and the Nasdaq Composite traded up 0.02%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was E. I. du Pont de Nemours and Co. (NYSE: DD) which traded up 1.06% at $68.75. The stock’s 52-week range is $47.11 to $75.72. Volume was about 50% below the daily average of around 3.1 million shares. The company had no specific news Wednesday.
3M Company (NYSE: MMM) traded up 1.04% at $179.99. The stock’s 52-week range is $134.00 to $182.27. Trading volume was about 35% below the daily average of around 1.9 million. The company had no specific news.
Pfizer Inc. (NYSE: PFE) traded up 0.93% at $35.12. The stock’s 52-week range is $28.25 to $37.39. Volume was about 35% below the daily average of around 22.9 million shares. The drug maker had no specific news.
Chevron Corp. (NYSE: CVX) traded up 0.62% at $102.18. The stock’s 52-week range is $69.58 to $107.58. Volume was 30% below the daily average of around 6.5 million shares. Rising crude oil prices due to a larger-than-expected draw on inventories lifted Chevron shares today.
Of the 30 Dow index stocks 21 are on track to close higher Wednesday and 9 are set to close lower.