May 31, 2017: The S&P 500 closed lower on the day, down 0.05% at 2,411.73. Separately the DJIA closed down 0.11% at 21,005.93. The Nasdaq also closed down 0.08% at 6,198.52.
In Wednesday’s session the markets were largely negative with major money center banks leading the charge down, other investment houses were negative as well. Although crude oil pushed much lower, not all of the oil & gas stocks took the plunge; in fact, a few like Schlumberger and Haliburton were actually positive on the day. The health care and utilities seemed to be the only positive performing sectors for the day.
Crude oil took a big hit on Wednesday and was last trading down close to 3% at $48.24.
Gold, however, was up 0.5% closing at $1,272.30.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Michael Kors Holdings Limited (NYSE: KORS) which traded down about 9% at $33.06. The stock’s 52-week range is $32.39 to $53.29. Volume was about 15 million versus the daily average of 2.0 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Vertex Pharmaceuticals Inc. (NASDAQ: VRTX), which rose 2.7% to $123.66. The stock’s 52-week range is $52.17 to $90.49. Volume was roughly 2.1 million on the day compared to the average of 1.9 million.