Intel, DowDuPont Weigh on DJIA Wednesday

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January 10, 2018: Markets opened lower Wednesday as yields on 10-year Treasuries rose to around 2.6% on reports that China is considering halting its purchases of U.S. debt. Financials traded higher but the gain was offset by weakness in utilities and real estate. WTI crude oil for February delivery settled at $63.57 a barrel, up 1% for the day, coming back from a dip following the inventory report. February gold added about 0.4% on the day to settle at $1,319.30. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.09% for the day, the S&P 500 traded down 0.15%, and the Nasdaq Composite traded down 0.25%.

Bitcoin futures for January delivery traded at $14,350, down about 2.7% on the CME after opening at $14,405 this morning. Only 858 contracts had been traded in the session and open interest is just 665.

The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Intel Corp. (NASDAQ: INTC) which traded down 2.33% at $42.60. The stock’s 52-week range is $33.23 to $47.64. Volume was about 15% above the daily average of around 31 million. The company’s CEO said today that Intel would have to patch at least 90% of its chips as a result of the Meltdown and Spectre flaws.

DowDuPont Inc. (NYSE: DWDP) traded down 1.76% at $74.01. The stock’s 52-week range is $56.76 to $76.34. Volume was about 30% below the daily average of around 7.4 million shares. The industrial firm had no specific news.

UnitedHealth Group Inc. (NYSE: UNH) traded down 0.80% at $224.07. The stock’s 52-week range is $156.09 to $231.77. Volume was about 40% below the daily average of around 3 million shares. The company had no specific news Wednesday

The Procter & Gamble Co. (NYSE: PG) traded down 0.55% at $60.55. The stock’s 52-week range is $83.28 to $94.67. Volume was about 35% below the daily average of around 6.9 million shares. The company had no specific news today.

Of the Dow stocks, 14 are on track to close higher Wednesday and 16 are set to close lower.