August 25, 2015: Markets opened higher on Tuesday and the markets quickly shook of the remaining effects of Monday’s tank job. WTI crude oil gained 2.8% ahead of Wednesday’s report on inventories, and gold settled down 1.3%. Gainers led losers by more than 10 to 1 early in the day, and equities appeared to be on their way to the closing bell with gainers outgunning losers by 3 to 1 or slightly better. That didn’t last though. Equities sold off big in the last hour of trading, throwing the lower close. Shortly before the closing bell the DJIA traded down 0.83% for the day, the S&P 500 traded down 0.90%, and the Nasdaq Composite traded down 0.06%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Merck & Co. (NYSE: MRK) which traded down 4.65% at $51.45. The stock’s 52-week range is $45.69 to $63.62. About 18 million shares traded hands today, about double than the daily average of about 9.7 million. The company had no specific news today.
Chevron Corp. (NYSE: CVX) traded lower by 2.36%% at $70.42. The stock’s 52-week range is $69.58 to $129.53. Trading volume was about double the daily average of around 8.7 million. The company could not hold onto a small gain in the last half-hour or so of trading today, even though crude oil prices were up.
Microsoft Corp. (NASDAQ: MSFT) traded down 2.40% at $40.68. The stock’s 52-week range is $39.72 to $50.05. Trading volume was nearly double the daily average of around 32 million. The company had no specific news today.
Verizon Communications Inc. (NYSE: VZ) traded down 2.07% at $43.81. The stock’s 52-week range is $38.06 to $51.73. Trading volume was about 50% higher than the daily average of around 15 million. The company had no specific news today.Of the Dow 30 stocks 21 are set to close lower today and 9 are on track to close higher.