August 22, 2016: Markets opened lower again Monday as investors remain cautious ahead of the Fed’s Jackson Hole conference beginning Thursday. Fed Chairwoman Janet Yellen is scheduled to speak on Friday and Fed watchers will be out in force. Monday’s best performing sector was utilities, while energy was the worst. WTI crude oil for September delivery settled at $47.05 a barrel, down 3% for the day. Monday was the final trading day on the September contract, and the October contract closed down 3.5% at $47.41. December gold closed down 0.2% on the day to settle at $1,343.40. Equities were headed for a mixed close shortly before the bell as the DJIA traded lower by 0.08% for the day, the S&P 500 traded down 0.06%, and the Nasdaq Composite traded up 0.06%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Apple Inc. (NASDAQ: AAPL) which traded down 0.77% at $108.52. The stock’s 52-week range is $89.47 to $123.82. Trading volume was nearly 30% lower than the daily average of around 34 million. The company acquired health tracking company Gliimpse earlier this year, but Apple just confirmed the news according to a report at Fast Company.
Johnson & Johnson (NYSE: JNJ) traded down 0.55% at $119.26. The stock’s 52-week range is $81.79 to $126.07. Volume was about 25% below the daily average of around 6.8 million shares. The company had no specific news Monday.
The Walt Disney Co. (NYSE: DIS) traded down 0.59% at $95.82. The stock’s 52-week range is $86.25 to $120.65. Volume was 40% below the daily average of around 7.3 million shares. The House of Mouse had no news Monday, but has been the Dow’s worst performing stock so far this year.
The Procter & Gamble Co. (NYSE: PG) traded down 0.44% at $86.93. The stock’s 52-week range is $65.02 to $87.57. Volume was about 40% below the daily average of around 7.1 million shares. The consumer goods giant had no specific news Monday.
Of the 30 Dow index stocks 13 are on track to close higher Monday and 17 are set to close lower.