December 5, 2017: Markets opened slightly higher Tuesday but the early gains couldn’t hold up. Today’s economic data showed a higher-than-expected trade deficit coupled with a lower-than-expected services industry index. The tech sector looks to be the only sector on track to post a gain while telecom and utilities were the worst performers. WTI crude oil for January delivery settled at $57.62 a barrel, up0.3% for the day. February gold dropped 1% on the day to settle at $1,264.90. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.48% for the day, the S&P 500 traded down 0.41%, and the Nasdaq Composite traded down 0.20%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was The Walt Disney Co. (NYSE: DIS) which traded down 2.74% at $107.20. The stock’s 52-week range is $96.20 to $116.10. Volume was around 40% higher than the daily average of around 8.1 million shares. The company had no specific news other than continued chatter of an acquisition of some media assets from Fox.
Intel Corp. (NASDAQ: INTC) traded down 2.26% at $43.49. The stock’s 52-week range is $33.23 to $47.30. Volume was about about 15% below the daily average of around 26 million shares. Long-time customer Microsoft today launched its first Windows 10 laptop using a Qualcomm ARM-based chip.
Verizon Communications Inc. (NYSE: VZ) traded down 1.62% at $50.88. The stock’s 52-week range is $42.80 to $54.83. Volume was about 10% below the daily average of around 16.5 million shares. The telecom giant had no specific news.
Pfizer Inc. (NYSE: PFE) traded down 1.30% at $35.59. The stock’s 52-week range is $30.51 to $36.78. Volume was about equal to the daily average of around 16.2 million. The pharmaceuticals firm had no specific news Tuesday.
Of the Dow stocks, 10 are on track to close higher Tuesday and 20 are set to close lower.