December 30, 2015: Markets opened lower on Wednesday following international markets that also traded lower today. Crude oil prices dipped following a Tuesday report that U.S. inventories increased last week, and then prices really tumbled when the U.S. Energy Information Administration confirmed the increase. WTI crude oil for February delivery traded down 3.4% today to settle at $36.60. Gold for February delivery traded lower by 0.8% to settle at $1,059.80 for the day. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 0.50% for the day, the S&P 500 traded down 0.57%, and the Nasdaq Composite traded down 0.65%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Nike Inc. (NYSE: NKE) which traded down 1.40% at $63.36. The stock’s 52-week range is $45.35 to $68.19. Trading volume was about half the daily average of about 9 million. The athletic apparel company had no specific news today.
Exxon Mobil Corp. (NYSE: XOM) traded down 1.33% at $78.11. The stock’s 52-week range is $66.55 to $93.45. Trading volume was about 35% lower than the daily average of around 15 million. The company had no specific news today, but the continuing oversupply of crude is a drag on the stock price.
Chevron Corp. (NYSE: CVX) traded down 1.24% at $90.12. The stock’s 52-week range is $69.58 to $113.31. Volume was less than half the daily average of around 10.5 million shares traded. No news, but no surprise given the drop in crude prices.
Intel Corp. (NASDAQ: INTC) traded down 1.21% at $35.01. The stock’s 52-week range is $24.87 to $37.49. Trading volume was about 65% below the daily average of around 25.5 million. The chipmaker’s price target was raised from $37 to $38 at Needham this morning, and the analysts also reaffirmed their Buy rating. Later in the day Fortune reported exclusively that the CEO of Intel’s Wind River subsidiary has left the company.
Of the Dow 30 stocks 28 are set to close lower today and just 2 are on track to close higher.
ALSO READ: 11 States Least Likely to Legalize Marijuana
Sponsored: Want to Retire Early? Start Here
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
