June 14, 2017: The S&P 500 closed lower, down 0.1% at 2,437.90. The DJIA closed up 0.2% at 21,376.47. Separately, the Nasdaq closed lower 0.4% at 6,194.89.
Wednesday saw a mixed reaction in the broad markets with the S&P 500 and Nasdaq down offsetting Tuesdays gains, and the Dow rising slightly on the day. Crude oil was perhaps the biggest drag on the markets, pulling down practically all of the Oil & Gas stocks. The Tech sector also suffered some losses as well. On the other hand, Wednesday’s drop could have been much worse if it were not for gains in utilities and health care. Also financial stocks started off the day weak, but following the Fed’s announcement of a rate hike, shares recovered handily.
Crude oil fell off a cliff on Wednesday. It was last trading down 3.6% at $44.80.
Gold was positive for a moment, but this quickly changed in the afternoon and gold last seen down 0.6% at $1,261.30.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Transocean Ltd. (NYSE: RIG) which traded down over 5% at $8.65. The stock’s 52-week range is $8.38 to $16.66. Volume was over 17.5 million versus the daily average of 12.3 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) which rose about 9% to $117.89. The stock’s 52-week range is $96.18 to $145.42. Volume was over 9 million on the day compared to the average of 2.7 million.