[cnxvideo id=”655413″ placement=”ros”]March 29, 2017: The S&P 500 closed higher on the day, up 0.11 % and 2.56 points to 2,361.14. Separately the DJIA closed down 0.20% on the day at 20,659.39, down approximately 42.11 points. The question remains if the DJIA gain on Tuesday was just a head fake as the index is lower versus the Nasdaq and the S&P500.
The recovery that oil has made on Tuesday and Wednesday has driven the energy sector higher with a large number of companies posting gains over 1% to 2%, some even as high as 8%. Other green arrows were seen in large-cap tech stocks, department stores, and textiles. On the other hand, major financial stocks were fairly negative as well as practically the entire utilities sector.
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Crude oil actually pushed higher in Wednesday’s session up 2.2% at $49.44.
Gold, while still above the $1,200 level, dropped slightly on the day, down 0.2% or $2.80 on the day, closing at $1,252.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was F5 Networks, Inc. (NASDAQ: FFIV) which traded down 3.4% at $142.09. The stock’s 52-week range is $93.64 to $149.50. Volume was roughly 1.4 million versus the daily average of 673,000 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) which jumped 19% to $106.93. The stock’s 52-week range is $71.46 to $111.88. Volume was 13.1 million which is above the daily average of around 1.6 million shares.
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