November 7, 2017: Markets opened slightly higher Tuesday but the uptick didn’t last more than an hour or so. There was no economic news of note today and tomorrow’s calendar only lists the petroleum inventory report. Financial and consumer discretionary stocks are taking the worst of it today while consumer staples and utilities are both up more than 1%. WTI crude oil for December delivery settled at $57.20 a barrel, down 0.3% for the day. December gold dropped 0.5% on the day to settle at $1,275.80. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.13% for the day, the S&P 500 traded down 0.16%, and the Nasdaq Composite traded down 0.40%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 2.45% at $98.31. The stock’s 52-week range is $69.24 to $102.42. Volume was about equal to the daily average of around 11.5 million shares. The company had no specific news.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.80% at $239.11. The stock’s 52-week range is $178.46 to $255.15. Volume was about 40% below the daily average of around 2.7million. The investment bank had nos specific news.
Nike Inc. (NYSE: NKE) traded down 1.51% at $55.19. The stock’s 52-week range is $49.75 to $60.53. Volume was about 45% below the daily average of around 9.9 million shares. The sports gear maker had no specific news.
American Express Co. (NYSE: AXP) traded down 1.05% at $95.28. The stock’s 52-week range is $66.31 to $96.88 and the high was posted just after the opening bell. Volume was about 40% below the daily average of around 3.2 million shares. The credit card issuer had no specific news.
Of the Dow stocks, 15 are on track to close higher Tuesday and 15 are set to close lower.