Apple, Intel Sink DJIA Tuesday

Print Email

December 26, 2017: Markets opened lower Tuesday following the three-day Christmas holiday weekend. The DJIA briefly turned higher, but traded for most of the day with a small loss. Energy was the leading sector but couldn’t overcome weakness in tech and utilities. WTI crude oil for February delivery settled at $59.97 a barrel, up 2.6% for the day following a pipeline explosion in Libya. The is WTI’s highest close in more than two years. February gold added 0.7% on the day to settle at $1,287.50. Equities were headed for a lower  close shortly before the bell as the DJIA traded down 0.11% for the day, the S&P 500 traded down 0.18%, and the Nasdaq Composite traded down 0.41%.

Bitcoin futures for January traded at $15,920, up about 12.6%, on the CME after opening at $13,900 this morning. Only 374 contracts had been traded in the session and open interest is just 489.

The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Apple Inc. (NASDAQ: AAPL) which traded down 2.63% at $170.41. The stock’s 52-week range is $114.76 to $177.20. Volume was nearly 10% above the daily average of around 26 million shares. Some analysts said iPhone X sales would be down sharply from quarterly.

Intel Corp. (NASDAQ: INTC) traded down 1.50% at $46.00. The stock’s 52-week range is $33.23 to $47.64. Volume was less than half the daily average of around 29 million. The semiconductor maker had no specific news.

DowDuPont Inc. (NYSE: DWDP) traded down 1.03% at $71.37. The stock’s 52-week range is $56.52 to $73.85. Volume was down more than 70% from the daily average of around 7.3 million shares. The company had no specific news.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 0.60% at $257.41. The stock’s 52-week range is $209.62 to $262.14. Volume was about a 60% below the daily average of around 2.7 million shares. The investment bank had no specific news.

Of the Dow stocks, 13 are on track to close higher Tuesday and 17 are set to close lower.