May 9, 2017: The S&P 500 closed just a little higher on the day at 2,399.54. Separately the DJIA closed lower at 20,941.51. The Nasdaq was actually up on the day at 6,129.14 hitting another high.
Wednesday was again a flat day for the markets, although oil made an incredible gain during the session. Oil & gas stocks were largely higher on the day with Exxon being a notable exception in the group. Aerospace & defense stocks along with some select entertainment and health care stocks held the markets back as well. On the positive side, financial stocks led the charge and some of the mid-to-small cap tech stocks contributed as well.
Crude oil made a solid gain on Wednesday 3.4% at $47.43.
Gold was also higher but only on the day up about 0.3% closing at $1,219.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Frontier Communications Corp. (NASDAQ: FTR) which traded down about 9.8% at $1.29. The stock’s 52-week range is $1.29 to $5.53. Volume was 74.0 million versus the daily average of 48.5 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was NVIDIA Corp. (NASDAQ: NVDA) which jumped about 18% to $121.29. The stock’s 52-week range is $34.93 to $121.82. Volume was 50.1 million which is above the daily average of just under 15.1 million shares.