August 9, 2017: Markets opened lower again Wednesday and was never able to gain enough traction to escape its losses. Consumer discretionary stocks led the losers as all sectors were trading down with about an hour to go til the closing bell. WTI crude oil for September delivery settled at $49.56 a barrel, up 0.8%for the day following a mixed report on U.S. petroleum inventories. December gold added 1.3% on the day to settle at $1,279.30. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.23%for the day, the S&P 500 traded down 0.09%, and the Nasdaq Composite traded down 0.35%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was The Walt Disney Co. (NYSE: DIS) which traded down 4.51% at $102.15. The stock’s 52-week range is $90.32 to $116.10. Volume was about three times the daily average of around 7.1 million shares. The company missed revenue expectations last night and announced a streaming service for its ESPN network.
The Boeing Co. (NYSE: BA) traded down 1.39% at $234.76. The stock’s 52-week range is $126.31 to $246.49. Volume was about 50% higher than the daily average of around 3.4 million. The aerospace and defense firm had no specific news.
United Technologies Corp. (NYSE: UTX) traded down 0.94% at $117.07. The stock’s 52-week range is $97.62 to $124.79. Volume was about equal to the daily average of around 2.6 million shares. The company had no news Wednesday.
Verizon Communications Inc. (NSYE: VZ) traded down 0.79% at $48.22. The stock’s 52-week range is $42.80 to $54.83. Volume was less than 10% below the daily average of around 15 million shares. The company had no specific news Wednesday.
Of the Dow stocks, 14 are on track to close higher Wednesday and 16 are set to close lower.