4 Stocks That Held The Dow Jones Industrial Average Back From Larger Gains
November 10, 2015: Markets opened mixed on Tuesday after having originally been indicated marginally lower, but they managed to take back marginally from the big down day on Monday. The dollar backed off slightly while equities made a charge for…
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November 10, 2015: Markets opened mixed on Tuesday after having originally been indicated marginally lower, but they managed to take back marginally from the big down day on Monday. The dollar backed off slightly while equities made a charge for positive at the end of the day. WTI crude rose about 0.8% today to settle at $44.24 per barrel. Gold was ever so slightly lower at $1,086.70. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded up 27 points at 17,758.21 for the day. The S&P 500 traded up 3 points at 2,081.72 and the Nasdaq Composite traded down 12 points to 5,083.24.
The 10-year treasury auction went well in Tuesday’s session and yields for the 10-year came down less than two basis points to 2.32%.
Apple, Inc. (NASDAQ: AAPL) was the biggest drag of the Dow on Tuesday. The cult of Mac was last seen down 3.18% at $116.73 right at the closing bell. The stock’s 52-week range is $92.00 to $134.54 and it is one of the more heavily weighted stocks in the DJIA accounting for about 4.5% of the index. Volume was at roughly 52 million just below the daily average of about 57.98 million shares traded. This move was based on speculated weakness in Apple’s Asian supply chain.
Microsoft Corp. (NASDAQ: MSFT) traded down 1.2% at $53.51. The stock’s 52-week trading range is $39.72 to $54.98. Trading volume was over 30% above the daily average of about 36.5 million. This drop came on news, or the taunt, that Apple’s CEO, Tim Cook, believes that, “The PC is dead.” That being said, try running a business of a watch that doesn’t even stay charged a whole day.
The Boeing Co. (NYSE: BA) traded down 0.57% at $145.15. The stock’s 52-week trading range is $115.14 to $158.83. Trading volume was about half of the daily average of 4.12 million. Boeing may be just seeing continued pressure over the focus of airplane buying moving towards military and defense over commercial jets.
Cisco Systems, Inc. (NASDAQ: CSCO) traded down 0.71% at $27.98. The stock’s 52-week trading range is $23.03 to $30.31. Trading volume was about 8 million shares below the daily average of about 28.12 million. As a reminder, Cisco reports earnings on Thursday and some selling ahead of earnings is not the most unusual pattern that is seen.
Out of the 30 Dow Stocks 10 of them were down on the day right before the closing bell. 24/7 Wall St. tracked 4 massive earnings winners and tracked six key earnings losers on Tuesday as well. Tuesday’s top analyst upgrades and downgrades were in AbbVie, Apple, Autodesk, JD.com, CyberArk, Dean Foods, Walt Disney and more.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
