December 29, 2016: Markets opened higher Thursday but were unable to hold onto early gains, probably due to some selling as traders get their ducks in a row for the new year. Equities have bounced around the break-even line most of the day. Utilities is the best performing sector while financials is the worst. WTI crude oil for February delivery settled at $53.77 a barrel, down about 0.5% on the day. February gold added about 1.5% on the day to settle at $1,157.70. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.05% for the day, the S&P 500 traded down 0.03%, and the Nasdaq Composite traded down 0.14%.
Stocks traded very near the break even line and the closing bell might see some shifts in which side of the line the indexes close on.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 1.04% at $85.60. The stock’s 52-week range is $52.50 to $87.39. Volume was about 45% below the daily average of around 17.7 million shares. The company had no specific news Thursday.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 0.93% at $238.41. The stock’s 52-week range is $138.20 to $245.57. Volume was about 45% below the daily average of around 4 million shares. The investment bank had no specific news.
E. I. du Pont de Nemours and Co. (NYSE: DD) traded down 0.75% at $73.82. The stock’s 52-week range is $50.88 to $75.86. Volume was about 65% below the daily average of around 2.8 million shares. The company had no specific news Thursday.
American Express Co. (NYSE: AXP) traded down 0.64% at $73.89. The stock’s 52-week range is $50.27 to $75.74. Volume was less than half the daily average of around 4.7 million shares. The company had no specific news.
Of the Dow 30 stocks, 14 are on track to close higher Thursday and 16 are set to close lower.