September 1 2015: Markets opened lower on Tuesday after a second consecutive low opening. Index futures were down on disappointing manufacturing data from China. After the opening bell U.S. data showed construction spending up 0.7% and a decline of 1.6 points in the ISM manufacturing index. Crude oil burned off 7.7% today to settle at $45.41, but the carnage hit every sector today. Shortly before the closing bell the DJIA traded down 2.96% for the day, the S&P 500 traded down 3.12%, and the Nasdaq Composite traded down 3.03%.
The DJIA stock posting the largest daily percentage drop ahead of the close Tuesday was Exxon Mobil Corp. (NYSE: XOM) which traded down 4.74% at $71.69. The stock’s 52-week range is $66.55 to $99.59. About 18 million shares traded hands today, about 25% less than the daily average of about 13.9 million. The company had no specific news today, but a drop of nearly 8% in crude prices will hit the big company every time.
JPMorgan Chase & Co. (NYSE: JPM) traded down 4.54% at $61.19. The stock’s 52-week range is $50.07 to $70.61. Trading volume was about 20% higher than the daily average of around 16 million. The company also had no specific news today, but got off to a terrible start and lost ground from there.
Apple Inc. (NASDAQ: AAPL) traded lower by 4.11% at $108.13. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 205% above the daily average of around 54 million. A report that Apple is looking into creating original content is giving investors agita today.
General Electric Co. (NYSE: GE) traded down 4.11% at $23.80. The stock’s 52-week range is $19.37 to $28.68. Trading volume was about 50% higher than the daily average of around 32 million. The company’s acquisition of Alstom’s energy assets has a good chance of being approved according to the Financial Times.
All 30 Dow stocks are on track to close lower today.
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