Between the November election and the end of 2016, the Dow Jones Industrial Average (DJIA) index gained 7.8%. Since the beginning of 2017, the index has added another 4.5%. The so-called Trump bump peaked at the beginning of March with both the S&P and the Dow up around 7% for the year.
There are only six DJIA stocks that have posted a year-to-date loss, and the losses were significantly smaller, on a percentage basis, than the gains posted by the five top performing Dow stocks.
The political winds are unlikely to make a big difference for some of these poor performers, but there is a chance that some of the promised reductions in corporate taxes and elimination of certain financial regulations will boost other stocks.
Here are the five worst DJIA index performers for the first quarter.
Exxon Mobil Corp. (NYSE: XOM) is down 8.3% year to date. The energy sector has been pounded this year after expected oil market rebalancing appears to be further in the future than had once been foreseen. Shares of Exxon closed Friday down about 2%, at $82.01 in a 52-week range of $80.31 to $95.55.
Chevron Corp. (NYSE: CVX) is down 7.9%. The song remains the same as for Exxon. Chevron’s shares closed down 0.3% on Friday, at $107.37 in a 52-week range of $92.43 to $119.00.
Verizon Communications Inc. (NYSE: VZ) is down 7.7%. The company introduced an unlimited data plan for wireless customers that investors worry will hurt revenues, especially because Verizon is having trouble adding new customers. The stock closed down about 0.6% on Friday, at $48.75 in a 52-week range of $46.01 to $56.95.
General Electric Co. (NYSE: GE) is 4.9% lower. The conglomerate recently announced new targets for cutting costs and raising operating profit after negotiations with Nelson Peltz’s Trian Management. But meeting the targets is problematic to some analysts and investors. Shares of GE closed Friday down about 0.2% to $29.80, in a 52-week range of $28.19 to $33.00.
Goldman Sachs Group Inc. (NYSE: GS) is down 3.8%. Between the November election and the end of last year, Goldman’s shares soared and posted a new annual high in early March before sliding a bit. Still, the investment bank’s shares are up nearly 27% since the election, although the peak gain was near 40%. Shares closed down about 0.7% on Friday, at $229.72 in a 52-week range of $138.20 to $255.15.