Wednesday’s Biggest Winners and Losers in the S&P 500
Wednesday was a mixed day for the broad U.S. markets. It’s possible that all three major indices would have notched a gain on the day if only IBM was thrown out. Big Blue posted its worst day in years and…
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April 18, 2018: The S&P 500 closed relatively flat at 2,708.62. The DJIA closed down 0.2% at 24,748.14. Separately, the Nasdaq was up 0.2% at 7,295.24.
Wednesday was a mixed day for the broad U.S. markets. It’s possible that all three major indices would have notched a gain on the day if only IBM were thrown out. Big Blue posted its worst day in years and was a huge detriment to the Dow and the tech sector in general. Although the averages were somewhat muted, crude oil posted an incredible gain, leaving just about a dollar between it and the coveted $70 price level. The S&P 500 sectors were split down the middle. The most positive sectors were energy and industrials up 1.6% and 1.1%, respectively. The worst performing sectors were financials and consumer staples which were down 0.5% and 0.8%, respectively.
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Crude oil was up 3.4% at $68.75.
Gold was also relatively flat at $1,351.20.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was International Business Machines Corp. (NYSE: IBM) which traded down about 7% at $148.83. The stock’s 52-week range is $139.13 to $171.13. Volume was nearly 20 million compared to the daily average volume of 5.3 million.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Intuitive Surgical, Inc. (NASDAQ: ISRG) which rose about 8% to $469.73. The stock’s 52-week range is $263.66 to $473.79. Volume was 3.2 million compared to the daily average volume of less than 1 million.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
