September 5, 2017: Markets opened lower Tuesday following the North Korea’s weekend nuclear device test. Adding to the concerns is the return of Congress from summer vacation and yet another massive hurricane brewing up on its way to Florida. WTI crude oil for October delivery settled at $48.66 a barrel, up 2.9% on the day. Gold added 1.1% to settle at $1,344.50, its highest level in nearly a year. Equities were headed for a lower close shortly before the bell as the DJIA traded down 1.07% for the day, the S&P 500 traded down 0.81%, and the Nasdaq Composite traded down 0.98%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was United Technologies Corp. (NYSE: UTX) which traded down 5.41% at $111.54. The stock’s 52-week range is $97.62 to $124.79. Volume was more than 4 times the daily average of around 2.8 million shares. The company announced its $30 billion acquisition of Rockwell Collins this morning.
The Travelers Companies Inc. (NYSE: TRV) traded down 3.70% at $115.46. The stock’s 52-week range is $103.45 to $130.37. Volume was nearly double the daily average of around 1.38 million. The company had no specific news.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 3.41% at $218.17. The stock’s 52-week range is $217.30 to $255.15. Volume was about 60% above the daily average of around 3 million shares. The bank hand no specific news.
JPMorgan Chase & Co. (NYSE: JPM) traded down 2.52% at $89.39. The stock’s 52-week range is $65.11 to $95.22. Volume was about equal to the daily average of around 13 million shares. The big bank had no specific news Tuesday.
Of the Dow stocks, 7 are on track to close higher Tuesday and 23 are set to close lower.