February 6, 2017: Markets opened lower Monday and bumped along near the break-even line on two of the major indexes until around noon when both edged lower. No major earnings reports were released this morning and economic news was also absent. All S&P sectors traded lower going into the final 30 minutes of trading, with energy the big loser. WTI crude oil for March delivery settled at $53.01 a barrel, down about 1.5% on the day. April gold added 0.98% on the day to settle at $1,232.10, the yellow metal’s highest close since early November. Equities were headed for a lower close close shortly before the bell as the DJIA traded down 15% for the day, the S&P 500 traded down 30%, and the Nasdaq Composite traded down 15%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Verizon Communications Inc. (NYSE: VZ) which traded down 1.25% at $47.97. The stock’s 52-week range is $46.01 to $56.95. Volume was about 20% below the daily average of around 15.7 million shares. The telecom giant had no specific news.
The Home Depot Inc. (NYSE” HD) traded down 1.01% at $136.59 The stock’s 52-week range is $109.62 to $139.37. Volume was about 50% below the daily average of around 5 million shares. The company had no specific news.
UnitedHealth Group Inc. (NYSE: UNH) traded down 0.91% at $160.40. The stock’s 52-week range is $108.83 to $164.00. Volume was less than half the daily average of around 4 million shares. The healthcare company had no specific news Monday.
Intel Corp. (NASDAQ: INTC) traded down 0.86% at $36.21. The stock’s 52-week range is $27.68 to $38.45. Volume was about 35% below the daily average of around 21 million shares. The company had no specific news.
Of the Dow 30 stocks, 11 are on track to close higher Monday and 19 are set to close lower.