January 12, 2017: Markets opened lower Thursday and politics — or the lack of policy — gets the blame following President-elect Donald Trump’s press conference that failed to have anything to say about the new administration’s economic policies. The telecom sector was showing a nice gain with about an hour to go before close, with financials, techs, and industrials all putting on a poor show Wednesday. WTI crude oil for February delivery settled at $53.01 a barrel, up about 1.5% on the day. February gold added 0.3% on the day to settle at $1,199.80. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.32% for the day, the S&P 500 traded down 0.22%, and the Nasdaq Composite traded down 0.32%.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was The Walt Disney Co. (NYSE: DIS) which traded down about 1.77% at $107.50. The stock’s 52-week range is $89.25 to $109.49. Volume was about 25% below the daily average of around 8.2 million shares. The company had now specific news.
Microsoft Corp. (NASDAQ: MSFT) traded down 0.97% at $62.57. The stock’s 52-week range is $48.04 to $64.10. Volume was about 40% below the daily average of around 28 million shares. The company had no specific news Thursday.
Pfizer Inc. (NYSE: PFE) traded down 0.85% at $32.55. The stock’s 52-week range is $27.68 to $37.39. Volume was less than 10% below the daily average of around 26.8 million shares. The company’s had no specific news, but President-elect Donald Trump shook up the industry on Wednesday, saying at his press conference that the companies were “getting away with murder.”
Intel Corp. (NASDAQ: INTC) traded down 0.78% at $36.66. The stock’s 52-week range is $27.68 to $38.36. Volume was about 20% below the daily average of around 20 million shares. The company’s had no specific news Thursday.
Of the Dow 30 stocks, 8 are on track to close higher Thursday and 22 are set to close lower.