November 17, 2017: Markets opened lower Friday even though what news there was turned out to be pretty good. Housing starts made a sharp comeback in October and retailers, including Abercrombie & Fitch posted better-than-expected results. WTI crude oil for December delivery settled at $56.55 a barrel, up 2.6% for the day and up nearly 3% for the week. December gold added 1.4% on the day to settle at $1,296.50. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.34% for the day, the S&P 500 traded down 0.20%, and the Nasdaq Composite traded down 0.13%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was Wal-Mart Stores Inc. (NYSE: WMT) which traded down 2.21% at $97.42. The stock’s 52-week range is $65.28 to $100.13 and the higher was posted early this morning. Volume was more than double the daily average of around 9 million shares. The retail giant said today that it has ordered 15 of the new Tesla all-electric semi trucks that are due to become available in 2019.
Intel Corp. (NASDAQ: INTC) traded down 2.19% at $44.65. The stock’s 52-week range is $32.23 to $47.30. Volume was more than double the daily average of around 24 million. The company had no specific news.
The Coca-Cola Co. (NYSE: KO) traded down 1.91% at $45.66. The stock’s 52-week range is $39.88 to $47.48. Volume was about 50% higher than the daily average of around 9.2 million shares. The company had no specific news Friday.
United Technologies Corp. (NYSE: UTX) traded down 1.07% at $116.63. The stock’s 52-week range is $106.21 to $124.79. Volume was about 25% below the daily average of around 3.6 million shares. The company had no specific news.
Of the Dow stocks, 10 are on track to close higher Friday and 20 are set to close lower.