June 20, 2017: Markets opened lower Tuesday primarily on sinking prices for crude oil. The lack of any meaningful economic data played a role as did a mixed overnight trading session in Asian markets. The energy sector traded down about 1.3% for the day and probably affected the consumer goods sector (down about 1.1%) as well. WTI crude oil for July delivery settled at $43.23 a barrel, down 2.2% on the contract’s expiration day. August oil closed down 2.1% at $43.51. August gold dropped 0.3% for the day to settle at $1,243.50, the yellow metal’s lowest close in more than a month. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.26% for the day, the S&P 500 traded down 0.64%, and the Nasdaq Composite traded down 0.76%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was General Electric Co. (NYSE: GE) which traded down 2.22% at $28.16. The stock’s 52-week range is $27.10 to $33.00. Volume was less than 10% below the daily average of around 36 million shares. The company had no specific news Tuesday.
Intel Corp. (NASDAQ: INTC) traded down 1.61% at $34.94. The stock’s 52-week range is $30.44 to $38.45. Volume was nearly 30% below the daily average of around 21 million. The company had no specific news.
The Walt Disney Co. (NYSE: DIS) traded down 1.45% at $103.85. The stock’s 52-week range is $90.32 to $116.10. Volume was about 10% lower than the daily average of around 6.6 million shares. The media giant had no specific news.
Verizon Communications Inc. (NYSE: VZ) traded down 1.30% at $45.97. The stock’s 52-week range is $44.46 to $56.95. Volume was about 20% below the daily average of around 15 million shares. The company had no specific news Tuesday.
Of the Dow stocks, 10 are on track to close higher Tuesday and 20 are set to close lower.