June 7, 2017: The S&P 500 closed higher on the day, up 0.15% at 2,433.10. Separately the DJIA closed up 0.18% at 21,173.35. The Nasdaq also closed up 0.36% at 6,297.38.
The broad markets posted some slight gains on Wednesday, but they were fairly muted due to Crude oil prices absolutely plunging. Crude oil dropped to its lowest level since last August, and Oil & Gas stocks payed the price with practically the entire sector posting a loss. Outside of oil, practically all of the other sectors in the index were relatively positive, although there was some weakness with industrials and tech stocks. The real standout here was the financial sector, which was especially strong with the major money center banks leading the charge.
Crude oil took a massive hit on Wednesday. It dropped nearly 5% on the day and was last seen trading at $45.84.
Gold backed off and gave back its Tuesday gains. It was last trading down 0.8% at $1,287.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Diamond Offshore Drilling, Inc. (NYSE: DO) which traded down over 8% at $10.90. The stock’s 52-week range is $10.79 to $26.72. Volume was over 4 million versus the daily average of 3.1 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Signet Jewelers Limited (NYSE: SIG), which rose over 4% to $56.44. The stock’s 52-week range is $46.09 to $101.46. Volume was over 3 million on the day compared to the average of 1.8 million.