January 8, 2016: Markets opened higher on Friday following an unexpectedly large boost to the non-farm payroll numbers and a stronger Chinese yuan. By noon, though, the indexes had tumbled into the red, managing to bounce out by mid-afternoon before turning south again. Energy stocks and crude oil prices seem to be leading the bouncing market today. WTI crude oil for February delivery traded down about 0.3% today to settle at $33.16, the lowest closing price in more than 11 years and down 10% for the week. Gold for February delivery traded lower by 0.9% to settle at $1,097.90 for the day, and up 3.6% for the week. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 0.90% for the day, the S&P 500 traded down 0.96%, and the Nasdaq Composite traded down 0.79%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was Cisco Systems Inc. (NASDAQ: CSCO) which traded down 2.26% at $24.83. The stock’s 52-week range is $23.03 to $30.31. Trading volume was about 10% lower than the daily average of around 26 million. The networking company had no specific news today.
Wal-Mart Stores Inc. (NYSE: WMT) traded down 2.01% at $63.72. The stock’s 52-week range is $56.30 to $90.97. Trading volume was about 15% higher than the daily average of about 13 million. The company had no specific news today.
The Boeing Co. (NYSE: BA) traded down 1.78% at $130.64. The stock’s 52-week range is $115.14 to $158.83. Volume was about 25% above the daily average of around 3.6 million shares traded. Shares opened higher today, but selling prevailed from the mid-morning on. The company had no specific news today.
Nike Inc. (NYSE: NKE) traded down 1.42% at $59.00. The stock’s 52-week range is $45.35 to $68.19. Trading volume was about equal to the daily average of around 9.1 million. The company may have bumped into a technical ceiling early this morning. Nike also had no specific news today.
Of the Dow 30 stocks 27 are set to close lower today and 3 are on track to close higher.
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