December 10, 2014: Markets opened lower on Wednesday as the energy sector had no good news from overseas and none as the day went on. Telecom stocks were also beaten up. The hope is that tomorrow’s report on November retail sales will re-invigorate buyers. Shortly before the closing bell the DJIA traded down 1.55% for the day, the S&P 500 traded down 1.65%, and the Nasdaq Composite traded down 1.73%.
The DJIA stock posting the largest daily loss ahead of the close Wednesday was The Boeing Co. (NYSE: BA) which traded down 3.90% at $124.60. The stock’s 52-week range is $116.32 to $144.57. Trading volume was nearly 25% higher than the daily average of around 4 million shares. The company had no specific news today.
Exxon Mobil Corp. (NYSE: XOM) traded down 3.39% at $88.27. The stock’s 52-week range is $86.91 to $104.76. Trading volume about a quarter higher than the daily average of around 13 million shares. Crude prices dropped below $62 a barrel today and that’s really all that needs to be said about this.
JPMorgan Chase & Co. (NYSE: JPM) traded down 2.91% at $60.63. The stock’s 52-week range is $52.97 to $63.16. Volume was about 60% higher than the daily average of around 14 million shares. The stock is reacting to a comment that the Federal Reserve may increase the bank’s capital ratio.
Caterpillar Inc. (NYSE: CAT) traded lower by 2.65% at $92.93. The stock’s 52-week range is $84.84 to $111.46. Volume was about 10% above the daily average of around 5 million shares. The company said today that it would maintain its $0.70 quarterly dividend.
Of the Dow 30 stocks 29 are set to close lower today and just 1 (Nike) is on track to close higher.