General Electric, Apple Sink DJIA on Tuesday
November 14, 2017 by Paul AusickNovember 14, 2017: Markets opened lower again Tuesday and none of the three major indexes was able to push above the break-even line all day. The producer price index rose sharply, a signal that the Fed may hold off on more interest rate hikes. But uncertainty about passage of the tax cut bill continues. WTI crude oil for December delivery settled at $55.70 a barrel, down 1.9% for the day after a report on increased U.S. production and a continuing oversupply in the global market. December gold added 0.3% on the day to settle at $1,282.90. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.20% for the day, the S&P 500 traded down 0.32%, and the Nasdaq Composite traded down 0.38%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was General Electric Co. (NYSE: GE) which traded down 5.23% at $18.02. The stock’s 52-week range is $17.46 to $32.38. Volume was more than four times the daily average of around 61.6 million shares. The struggling industrial’s strategic plan announced yesterday did not mollify investors.
DowDuPont Inc. (NYSE: DWDP) traded down 2.20% at $65.48. The stock’s 52-week range is $52.32 to $73.85. Volume was about 10% below the daily average of around 7.7 million shares. The company had no specific news Tuesday.
Apple Inc. (NASDAQ: AAPL) traded down 1.53% at $171.31. The stock’s 52-week range is $106.16 to $176.24. Volume was about 40% below the daily average of around 28 million. A 10-year old was reportedly able to break the iPhone X Face ID system with a mask of his mother’s face.
The Walt Disney Co. (NYSE: DIS) traded down 1.51% at $103.16. The stock’s 52-week range is $96.20 to $116.10. Volume was about 35% below the daily average of around 8 million shares. The media giant had no specific news.
Of the Dow stocks, 13 are on track to close higher Tuesday and 17 are set to close lower.
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