Investing
Goldman Sachs, JPMorgan Lead DJIA Lower Tuesday
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May 30, 2017: Markets opened lower Tuesday following a three-day weekend and a slight weakening in U.S. consumer confidence. Home prices rose in March to a 33-month high. The day’s top-performing sectors were telecom and utilities, while energy and financials lagged.WTI crude oil for July delivery settled at $49.66 a barrel, down 0.3% for the day. August gold dropped 0.5% for the day to settle at $1,265.70 and up about 1.2% for the week. Equities were headed for a narrowly lower close shortly before the bell as the DJIA traded down 0.20% for the day, the S&P 500 traded down 0.06%, and the Nasdaq Composite traded down 0.05%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was The Goldman Sachs Group Inc. (NYSE: GS) which traded down 2.02% at $218.27. The stock’s 52-week range is $138.20 to $255.15 Volume was about 35% below the daily average of around 3.7 million shares. The company backed the faltering Venezuelan government by purchasing its distressed debt, much to the distaste of the country’s forces that are fighting against that government.
JPMorgan Chase & Co. (NYSE: JPM) traded down 1.70% at $83.90. The stock’s 52-week range is $57.05 to $93.98. Volume was about more than 40% below the daily average of around 15 million shares. The company had no specific news Tuesday.
Exxon Mobil Corp. (NYSE: XOM) traded down 0.55% at $81.10. The stock’s 52-week range is $80.30 to $95.55. Volume was about 40% lower than the daily average of around 11.5 million shares. The company’s annual meeting is Wednesday and shareholder petitions related to climate change and CEO pay are on the agenda. Sparks are expected to fly.
American Express Co. (NYSE: AXP) traded down 0.41% at $77.14. The stock’s 52-week range is $57.15 to $82.00. Volume was about 67% below the daily average of around 3.8 million. The company had no specific news.
Of the Dow stocks, 15 are on track to close higher Tuesday and 15 are set to close lower.
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