Apple, Goldman Sachs Tank the Dow on Thursday

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August 10, 2017: Markets opened lower for the third straight day Thursday and, as on Wednesday, never threatened the break-even mark. The report on the producer price index was softer than expected and earnings from three major retailers didn’t help investors’ mood at all. The only sector showing a gain on the day is utilities while tech and financials are the laggards. WTI crude oil for September delivery settled at $48.59 a barrel, down 2% for the day following OPEC’s oil market report for August. December gold added 0.8% on the day to settle at $1,290.10. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.83%for the day, the S&P 500 traded down 1.33%, and the Nasdaq Composite traded down 2.04%.

The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was Apple Inc. (NASDAQ: AAPL) which traded down 2.86% at $155.83. The stock’s 52-week range is $102.53 to $161.83. Volume was about 10% higher than the daily average of around 27 million shares. The company had no specific news.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.83% at $226.79. The stock’s 52-week range is $157.77 to $255.15. Volume was about 25% below the daily average of around 3.3 million. The investment bank had no specific news.

Cisco Systems Inc. (NASDAQ: CSCO) traded down 1.71% at $31.08. The stock’s 52-week range is $29.12 to $34.60. Volume was about 20% below the daily average of around 21 million shares. The network equipment giant had no specific news Thursday.

General Electric Co. (NYSE: GE) traded down 1.54% at $25.32. The stock’s 52-week range is $25.26 to $32.38. Volume was about 30% below the daily average of around 40 million shares. The company had no news.

Of the Dow stocks, just 4 are on track to close higher Thursday and 26 are set to close lower.