The 4 Stocks That Weighed on Monday’s Market
thinkstockDecember 15, 2014: Markets opened higher on Monday following a strong report on industrial production that was later describe as a catch-up phase from previous growth. But the big drag appears to have been crude oil again, which close below…
December 15, 2014: Markets opened higher on Monday following a strong report on industrial production that was later describe as a catch-up phase from previous growth. But the big drag appears to have been crude oil again, which close below $56 a barrel on the Nymex. Shortly before the closing bell the DJIA traded down 0.57% for the day, the S&P 500 traded down 0.58%, and the Nasdaq Composite traded down 0.94%.
The DJIA stock posting the largest daily loss ahead of the close Monday was McDonald’s Corp. (NYSE: MCD) which traded down 2.36% at $88.48. The stock’s 52-week range is $88.38 to $103.78, and the low was posted today. Trading volume about a 35% above the daily average of around 6 million shares. There was no specific news today for the company, but recently announced sales declines and menu changes are weighing in again.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.62% at $185.77. The stock’s 52-week range is $151.65 to $198.06. Volume was about 15% above the daily average of around 3 million shares. Goldman announced a slew of new ETFs on Friday, and investors might be thinking now is not the best time for this.
Chevron Corp. (NYSE: CVX) traded down 1.50% at $100.84. The stock’s 52-week range is $100.42 to $135.10. Trading volume was about 35% above the daily average of around 8 million shares. The integrated oil company has pulled out of a huge natural gas deal in Ukraine, and oil prices continue to slide.
Merck & Co. Inc. (NYSE: MRK) traded lower by 1.30% at $56.97. The stock’s 52-week range is $47.61 to $62.20. Volume was about 10% below the daily average of around 11 million shares. The company had no news today.
Of the Dow 30 stocks 22 are set to close lower today and 8 are on track to close higher.
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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.
