May 3, 2017: The S&P 500 closed lower on the day, down 0.1% and 3.21 points to 2,387.96. Separately the DJIA closed up 0.03% on the day at 20,956.79, up approximately 6.90 points.
Wednesday was yet another flat day for the markets with the exception that the Nasdaq backed off its highs and gave a little back, ending its streak of higher highs in the last two weeks. For the most part the main drag on the market was the service sector, notably entertainment stocks. At the same time, REITs in the financial sector were negative as well. A few oil & gas stocks were positive on the day as well as the major banks.
Crude oil was barely positive on the day and was last trading up about 0.10% at $47.70.
Gold was actually down on the day about 1.3% or $16.30 closing at $1,240.70.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Akamai Technologies, Inc. (NASDAQ: AKAM) which traded down about 15.5% at $52.80. The stock’s 52-week range is $47.80 to $71.64. Volume was 14.7 million versus the daily average of 2.2 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Delphi Automotive PLC (NYSE: DLPH) which jumped about 11% to $87.00. The stock’s 52-week range is $58.04 to $88.31. Volume was roughly 11.6 million which is above the daily average of around 1.9 million shares.