Wal-Mart, Home Depot Weigh on DJIA Wednesday
September 7, 2016 by Paul AusickSeptember 7, 2016: Markets opened mixed Wednesday following largely unmemorable sessions overseas. European markets await a policy statement from the ECB due Thursday morning. The Beige Book’s release did move equities somewhat lower. WTI crude oil for October delivery settled at $45.50 a barrel, up 1.5% for the day. December gold closed down 0.4% on the day to settle at $1,349.20. Equities were headed for a mixed close shortly before the bell as the DJIA traded down by 0.10% for the day, the S&P 500 traded down 0.06%, and the Nasdaq Composite traded up 0.10%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Wal-Mart Stores Inc. (NYSE: WMT) which traded down 1.20% at $72.12. The stock’s 52-week range is $56.30 to $75.19. Volume was about 10% below the daily average of around 7.5 million shares. The company had no specific news today, but the consumer staples sector took the big hit in Wednesday trading.
Home Depot Inc. (NYSE: HD) traded down 0.87% at $132.93. The stock’s 52-week range is $109.62 to $139.00. Trading volume was about 25% below the daily average of around 4.3 million. The home improvement giant had no specific news.
Merck & Co. Inc. (NYSE: MRK) traded down 0.76% at $62.76. The stock’s 52-week range is $47.97 to $64.00. Volume was about 30% below the daily average of around 9.9 million shares. The company said today that the FDA had accepted its lung cancer drug for Priority Review.
The Procter & Gamble Co. (NYSE: PG) traded down 0.64% at $88.07. The stock’s 52-week range is $67.33 to $88.87. Volume was about 70% above the daily average of around 8.33 million shares. The drugmaker had no specific news.
Of the 30 Dow index stocks 11 are on track to close higher Wednesday and 19 are set to close lower.
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