The 4 Stocks That Weighed on Markets Wednesday
thinkstockMarch 4, 2015: Markets opened lower on Wednesday following a somewhat disappointing ADP employment report for February even though January’s estimate was revised sharply up. Crude oil inventories grew by 10 million barrels causing prices to fall below $50 a…
March 4, 2015: Markets opened lower on Wednesday following a somewhat disappointing ADP employment report for February even though January’s estimate was revised sharply up. Crude oil inventories grew by 10 million barrels causing prices to fall below $50 a barrel before reversing direction to rise to more than $51. Shortly before the closing bell the DJIA traded down 0.57% for the day, the S&P 500 traded down 0.44%, and the Nasdaq Composite traded down 0.25%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Caterpillar Inc. (NYSE: CAT) traded down 1.45% at $81.64. The stock’s 52-week range is $78.81 to $111.46. Trading volume was about 10% below the daily average of around 6.6 million shares. The company had no specific news today.
American Express Co. (NYSE: AXP) which traded down 1.4% at $80.76. The stock’s 52-week range is $77.12 to $96.24. Trading volume was about 30% below the daily average of around 7 million shares. The company had no specific news today.
Verizon Communications Inc. (NYSE: VZ) traded down 1.03% at $49.04. The stock’s 52-week range is $45.09 to $53.66. Trading volume was about 40% below the daily average of around 18.5 million shares. The company had no specific news today.
The Procter & Gamble Company (NYSE: PG) traded lower by 0.94% at $84.35. The stock’s 52-week range is $77.29 to $93.89. Trading volume was about 30% below the daily average of around 7.6 million shares. The company had no specific news today.
Of the Dow 30 stocks 24 are set to close lower today and 6 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.