May 23, 2017: The S&P 500 closed higher on the day, up 0.2% at 2,398.45. Separately the DJIA closed up 0.2% as well at 20,938.59. The Nasdaq closed relatively flat at 6,138.71.
Although the broad markets had a positive day even if it was only slightly. Crude oil continued to push higher again on Tuesday back above $50 and now above $51. The main drag on the markets that kept them from pushing higher was retailers and a handful of tech stocks. Otherwise, the S&P 500 sectors were more or less positive across the board with a few exceptions. We saw the biggest gains in financial stocks and health care stocks. While crude was posting another strong day, oil & gas stocks were only slightly higher.
Crude oil broke the $50 level Monday and continued even higher on Tuesday. Crude was last trading higher on the day up 0.6% at $51.44.
At the same time, gold was lower, down about % closing at $1,2__.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was AutoZone, Inc. (NYSE: AZO) which traded down over 11% at $582.65. The stock’s 52-week range is $581.60 to $819.54. Volume was 2.8 million versus the daily average of 370,000 shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Tuesday was Agilent Technologies, Inc. (NYSE: A) which jumped over 4% to $58.62. The stock’s 52-week range is $41.98 to $59.97. Volume was 7.0 million on the day compared to the average of 1.7 million.