September 9, 2016: Markets opened lower again Friday following lukewarm trading sessions in Asia, another nuclear test in North Korea, and so-so economic data from Europe. Energy stocks rose on lower than expected builds in crude and natural gas inventories. All 10 sectors traded in the red, let by telecom and utilities. WTI crude oil for October delivery settled at $45.88 a barrel, down 3.7% for the day and up 3.2% for the week. December gold closed down 0.5% on the day to settle at $1,334.50 and a gain of 0.6% for the week. Equities were headed for a lower close shortly before the bell as the DJIA traded down by 1.60% for the day, the S&P 500 traded down 1.89%, and the Nasdaq Composite traded down 2.20%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was Verizon Communications Inc. (NYSE: VZ) which traded down 3.21% at $51.88. The stock’s 52-week range is $42.20 to $56.95. Trading volume was about equal to the daily average of around 13.2 million. The telecom giant had no specific news Friday.
The Boeing Co. (NYSE: BA) traded down 3.06% at $128.83. The stock’s 52-week range is $102.10 to $150.59. Volume was about 10% above the daily average of around 3.5 million shares. The company is reportedly considering a stretched version of its new 737 MAX 9 to compete against the Airbus A321 and A321LR.
The Coca-Cola Co. (NYSE: KO) traded down 2.90% at $42.37. The stock’s 52-week range is $37.84 to $47.13. Volume was about 50% above the daily average of around 11.3 million shares. The company had no specific news.
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Caterpillar Inc. (NYSE: CAT) traded down 2.96% at $81.07. The stock’s 52-week range is $56.36 to $84.73. Volume was about equal to the daily average of around 4.2 million shares. The company had no specific news Friday.
All 30 Dow index stocks traded lower on Friday.
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