Microsoft, Cisco Sink the DJIA on Tuesday
Microsoft, Cisco, 3M, and Coca-Cola were Tuesday's biggest losers among the DJIA stocks.
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June 27, 2017: Markets opened lower Tuesday with tech stocks weaker on news of the $2.7 billion fine the European Union hit Google with. The consumer confidence index rose a full point, better than an expected slight drop and retail gas prices for the coming holiday weekend are expected to be the lowest in a dozen years. WTI crude oil for August delivery settled at $44.24 a barrel, up 2% on the day. August gold added 50 cents on the day to settle at $1,246.90. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.26% for the day, the S&P 500 traded down 0.59%, and the Nasdaq Composite traded down 1.33%.
The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Microsoft Corp. (NASDAQ: MSFT) which traded down 1.63% at $69.38. The stock’s 52-week range is $42.67 to $72.89. Volume was about 25% below the daily average of around 24.4 million shares. The software giant had no specific news.
Cisco Systems Inc. (NASDAQ: CSCO) traded down 1.13% at $31.88. The stock’s 52-week range is $27.50 to $34.60. Volume was about 25% below the daily average of around 21 million shares. The company had no specific news Tuesday.
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3M Company (NYSE: MMM) traded down 1.05% at $210.38. The stock’s 52-week range is $163.85 to $214.57. Volume was about 20% below the daily average of around 1.8 million. The company had no specific news.
The Coca-Cola Co. (NYSE: KO) traded down 0.80% at $45.07. The stock’s 52-week range is $39.88 to $46.06. Volume was around 35% below the daily average of about 11.6 million shares. The company had no specific news.
Of the Dow stocks, 8 are on track to close higher Tuesday and 22 are set to close lower.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
