Investing
The 4 Stocks That Sank the DJIA on Tuesday
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February 2, 2016: Markets opened lower again on Tuesday and was never able to turn around as it did on Monday. Both European and Asian markets traded lower and U.S. markets kept pace with the downturn in crude oil prices for most of the morning. The energy and financial sectors again led the way down the slippery slope today. WTI crude oil for March settled down about 5.5% today, at $29.88 after dropping more than 6% on Monday. April gold, the most active contract, traded down 0.11% to settle at $1,127.20 for the day. Equities were headed for a lower close shortly before the closing bell as the DJIA traded down 1.74% for the day, the S&P 500 traded down 1.81%, and the Nasdaq Composite also traded down 2.15%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was The Goldman Sachs Group Inc. (NYSE: GS) which traded down 4.84% at $151.92. The stock’s 52-week range is $150.15 to $218.77, and the low was posted today. Volume rose to about 70% above the daily average of around 3.5 million shares. The bank’s Asia unit was censured by Hong Kong authorities for breaching rules related to a takeover transaction.
Chevron Corp. (NYSE: CVX) traded down 4.69% at $81.30. The stock’s 52-week range is $69.58 to $112.93. Volume was about equal to the daily average of around 11 million shares traded. The company’s credit rating was cut one notch, from AA to AA- at S&P today, and peer Exxon delivered a slightly better-than-expected earnings report this morning.
Intel Corp. (NASDAQ: INTC) traded down 3.47% at $29.75. The stock’s 52-week range is $24.87 to $35.59. Trading volume was about 25% below the daily average of around 24.5 million. The chipmaker had no specific news today.
Microsoft Corp. (NASDAQ: MSFT) traded down 3.28% at $52.92. The stock’s 52-week range is $39.72 to $56.85. Trading volume was about 15% above the daily average of around 39 million. The world’s largest software company had no specific news today.
Of the Dow 30 stocks 29 are set to close lower today and just 1 (DuPont) is on track to close higher.
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