Investing

The 4 Stocks That Weighed on Tuesday’s Market

thinkstockDecember 9, 2014: Markets opened lower on Tuesday following a sharp decline overnight in the Shanghai Composite after China’s central bank tightened up liquidity restrictions. A better than expected job openings report helped pull stocks up and crude oil traded…

By Paul Ausick
Published December 9, 2014, 4:01pm ET · 2 min read

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December 9, 2014: Markets opened lower on Tuesday following a sharp decline overnight in the Shanghai Composite after China’s central bank tightened up liquidity restrictions. A better than expected job openings report helped pull stocks up and crude oil traded up about 1% at just under $64 a barrel after falling all the way to $62.25 early in the session. Shortly before the closing bell the DJIA traded down 0.34% for the day, the S&P 500 traded down 0.12%, and the Nasdaq Composite traded up 0.49%.

The DJIA stock posting the largest daily loss ahead of the close Tuesday was Verizon Communications Inc. (NYSE: VZ) which traded down 4.63% at $46.63. The stock’s 52-week range is $845.45 to $53.66. Trading volume was nearly 3-times higher than the daily average of around 14 million shares. The company said Tuesday morning that fourth quarter profits would be affected by low prices.

AT&T Inc. (NYSE: T) traded down 3.35% at $32.74. The stock’s 52-week range is $31.74 to $37.48. Trading volume more than double the daily average of around 22 million shares. AT&T followed Verizon’s announcement with one of its own that offered much the same thing.

Merck & Co. Inc. (NYSE: MRK) traded down 3.16% at $59.92. The stock’s 52-week range is $47.61 to $62.20. Volume was about 50% higher than the daily average of around 11 million shares. The company had no specific news today, but the fallout appears to be the result of Monday’s $9.5 billion agreement to acquire Cubist Pharmaceuticals.

The Coca-Cola Co. (NYSE: KO) traded lower by 2.52% at $42.05. The stock’s 52-week range is $36.89 to $45.00. Volume was about 15% above the daily average of around 17 million shares. The company had no specific news today.

Of the Dow 30 stocks 23 are set to close lower today and 7 are on track to close higher.

ALSO READ: Will Oil Drop to $40?

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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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