January 9, 2017: Markets opened mixed again Monday with the Nasdaq Composite showing a burst out of the gate while the S&P 500 and the DJIA opened lower. The Nasdaq even posted an all-time high of 5,541.08 early this afternoon. Techs were one of the only S&P sectors to post a gain Monday. The biggest loser was the energy sector which was weighed down by dropping crude prices. WTI crude oil for February delivery settled at $51.96 a barrel, down about 3.8% on the day. February gold added about 1% on the day to settle at $1,184.90. Equities were headed for a mixed close shortly before the bell as the DJIA traded down 0.30% for the day, the S&P 500 traded down 0.26%, and the Nasdaq Composite traded up 0.29%.
The DJIA stock posting the largest daily percentage loss ahead of the close Monday was Exxon Mobil Corp. (NYSE: XOM) which traded down 1.50% at $87.17. The stock’s 52-week range is $71.55 to $95.55. Volume was about 10% below the daily average of around 10.6 million shares. As noted earlier, crude prices tumbled today and dragged the Dow stocks down as well.
International Business Machines Corp. (NYSE: IBM) traded down 1.01% at $167.82. The stock’s 52-week range is $116.90 to $169.95. Volume was about 60% below the daily average of around 3.6million shares. The company had no specific news Friday.
The Coca-Cola Co. (NYSE: KO) traded down 0.85% at $87.24. The stock’s 52-week range is $39.88 to $47.13. Volume was about 30% below the daily average of around 13.8 million shares. Analysts at Goldman Sachs cut the stock’s rating to Sell this morning.
Chevron Corp. (NYSE: CVX) traded down 0.80% at $115.90. The stock’s 52-week range is $75.33 to $119.00 Volume was about 30% below the daily average of around 7.1 million shares. Another oil company hit by the tumbling crude prices.
Of the Dow 30 stocks, 10 are on track to close higher Monday and 20 are set to close lower.
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