March 17, 2015: Markets opened lower on Tuesday as investors prepare for Wednesday’s announcement from the Federal Reserve. While many observers expect Fed chairwoman Janet Yellen to adjust the wording of the press release, any such change could be a lot less than meets the eye. Inflation is nowhere near the Fed target of 2%, and while employment and wages are improving, the growth could hardly be categorized as “strong.” Shortly before the closing bell the DJIA traded down 0.59% for the day, the S&P 500 traded down 0.22%, and the Nasdaq Composite traded up 0.23.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was E. I. du Pont de Nemours and Company (NYSE: DD) which traded lower by 2.91%% at $74.83. The stock’s 52-week range is $63.70 to $80.65. Trading volume was about 3-times the daily average of around 4.5 million shares. The company on Monday rejected a board-seat deal with Trian Management, and took an analyst downgrade on the possibility of a serious proxy fight.
Caterpillar Inc. (NYSE: CAT) traded down 1.82% at $78.52. The stock’s 52-week range is $78.19 to $111.46. Trading volume was about equal to the daily average of around 6.5 million shares. The company had no specific news today.
Visa Inc. (NYSE: V) traded down 1.56% at $264.81. The stock’s 52-week range is $194.84 to $278.65. Trading volume was about equal to the daily average of around 2.5 million shares. The company had no specific news today.
Johnson & Johnson (NYSE: JNJ) traded down 0.99% at $100.06. The stock’s 52-week range is $92.92 to $109.49. Trading volume was about half the daily average of around 9.2 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.
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