Wednesday’s Biggest Winners and Losers in the S&P500
April 5, 2017: The S&P 500 closed lower on the day, down 0.31% and 7.21 points to 2,352.95. Separately the DJIA closed down 0.20% on the day at 20,648.15, down approximately 0.20 points.
[cnxvideo id=”625476″ placement=”ros”]April 5, 2017: The S&P 500 closed lower on the day, down 0.31% and 7.21 points to 2,352.95. Separately the DJIA closed down 0.20% on the day at 20,648.15, down approximately 0.20 points.
The broad markets started out Wednesday fairly positive across the board, along with crude oil and gold showing gains as well. Initially, these were all positive following a strong ADP report on jobs and employment. However, the Fed released the minutes from its recent FOMC meeting commenting that stocks had a relatively high valuation and generally speaking the markets don’t like it when the Fed comments on their valuations. Also, Paul Ryan commented today that tax reform could take even longer than health care reform, signaling that the administration was not necessarily on the same page. These two events dragged down what was otherwise a very positive day.
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Looking at the sectors, utilities and restaurants were the only positive ones on the day. The most negative sectors were biotechs and financials.
Crude oil turned lower again this week on Wednesday. Crude closed down 0.35% at $50.85 on the session.
Gold was also lower on the day down ever so slightly 0.07% or $0.90 on the day, closing at $1,257.50.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Chesapeake Energy Corp. (NYSE: CHK) which traded down 3.2% at $6.12. The stock’s 52-week range is $3.54 to $8.20. Volume was roughly 76.8 million versus the daily average of 38.3 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Under Armour, Inc. (NYSE: UA) which jumped nearly 3% to $18.52. The stock’s 52-week range is $17.05 to $46.53. Volume was 6.8 million which is a little above the daily average of around 5.0 million shares.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
