Johnson & Johnson, Disney Lead DJIA Lower Wednesday
Johnson & Johnson, Cisco Systems, Disney, and Caterpillar led the DJIA downward on Wednesday.
August 23, 2017: Markets opened lower Wednesday and trading on all three major indexes remained in the red all day. A comment from President Trump last night regarding a government shutdown cast a pall over markets from the beginning. A report on new home sales was weaker than expected and U.S. crude oil inventories fell a bit less than expected. WTI crude oil for October delivery settled at $48.41 a barrel, up about 1.2% for the day. December gold added 0.3% on the day to settle at $1,294.70. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.28%for the day, the S&P 500 traded down 0.24%, and the Nasdaq Composite traded down 0.15%.
The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Johnson & Johnson (NYSE: JNJ) which traded down 1.31% at $132.94. The stock’s 52-week range is $109.32 to $137.08. Volume was about about 40% below the daily average of around 5.5 million shares. The company had no specific news.
The Walt Disney Co. (NYSE: DIS) traded down 0.88% at $101.87. The stock’s 52-week range is $90.32 to $116.10. Volume was about 35% below the daily average of around 7.4 million. The company had no specific news.
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Caterpillar Inc. (NYSE: CAT) traded down 0.86% at $114.82. The stock’s 52-week range is $79.93 to $115.46. Volume was about 60% below the daily average of around 4.1 million shares. The company had no specific news.
Cisco Systems Inc. (NASDAQ: CSCO) traded down 0.83% at $31.01. The stock’s 52-week range is $29.12 to $34.60. Volume was about 20% below to the daily average of around 21 million shares. The company had no specific news Wednesday.
Of the Dow stocks, 10 are on track to close higher Wednesday and 20 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.
