April 28, 2017: Markets opened mixed on Friday following a weak report on first-quarter GDP growth (up 0.7%). Even the tech-heavy Nasdaq Composite couldn’t hold on to an early gain and trailed southward all day. Tech and energy were Friday’s best sectors while telecom and financials led the losers. WTI crude oil for June delivery settled at $49.33 a barrel, up 0.7% on the day but posted a monthly loss of 2.5%. June gold added 0.2% for the day to settle at $1,268.30, finishing the week down 1.6% and the month up about 1.3%. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.22% for the day, the S&P 500 traded down 0.22%, and the Nasdaq Composite traded down 0.02%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was Intel Corp. (NASDAQ: INTC) which traded down 3.78% at $36.01. The stock’s 52-week range is $29.50 to $38.45. Volume was about 90% above the daily average of around 23.6 million shares. The chipmaker announced first-quarter results last night that were good, but not good enough.
Verizon Communications Inc. (NYSE: VZ) traded down 1.45% at $45.99. The stock’s 52-week range is $45.94 to $56.95 and the low was posted this afternoon. Volume was about 25% above the daily average of around 15.6 million shares. The company had no specific news.
American Express Co. (NYSE: AXP) traded down 1.28% at $79.31. The stock’s 52-week range is $57.15 to $82.00. Volume was just above the daily average of around 4 million shares. The credit card issuer had no specific news.
McDonald’s Corp. (NYSE: MCD) traded down 0.76% at $139.80. The stock’s 52-week range is $110.33 to $142.79. Volume was about a 10% below the daily average of around 3.8 million. The company had no specific news Friday.
Of the Dow stocks, 10 are on track to close higher Friday and 20 are set to close lower.