September 9, 2015: Markets opened higher on Wednesday but ended up drifting lower all to finish the day lower. Talk of a stimulus package for the Chinese equity market gave Shanghai shares a boost and the Nikkei was up sharply as well. A lukewarm reception greeted Apple’s new product announcements and the most heavily weighted of the DJIA stocks pulled the rest down with it. Shortly before the closing bell the DJIA traded down 1.45% for the day, the S&P 500 traded down 1.41%, and the Nasdaq Composite traded down 1.18%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was Chevron Corp. (NYSE: CVX) which traded lower by 2.46% at $74.95. The stock’s 52-week range is $69.58 to $125.70. Trading volume was about 10% lower than the daily average of around 8.7 million. The company had no specific news today, but crude oil settled down nearly 4% today at $44.15.
The Home Depot Inc. (NYSE: HD) traded down 2.22% at $113.83. The stock’s 52-week range is $86.35 to $123.80. About 4 million shares traded hands today, roughly 20% below the daily average of about 5.3 million. The company had no specific news today.
The Procter & Gamble Co. (NYSE: PG) traded down 2.24% at $68.42. The stock’s 52-week range is $65.02 to $93.89. Trading volume was about 20% lower than the daily average of around 9.6 million. The company had no specific news today.
Apple Inc. (NASDAQ: AAPL) traded down 2.24% at $109.79. The stock’s 52-week range is $92.00 to $134.54. Trading volume was about 25% above the daily average of around 56 million. Investors were simply not thrilled with today’s new product introductions.
All 30 Dow stocks are on track to close lower today.
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