Visa, American Express Weigh on the Dow Monday

By Paul Ausick Updated Jan 11, 8:10PM EST · Published Jul 30, 4:01PM EDT

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Visa, American Express Weigh on the Dow Monday — © monsitj / Getty Images

July 30, 2018: Markets opened essentially flat Monday, but with the exception of an early short move higher by the Dow, all three major indexes remained in the red for the entire day. The Nasdaq composite is still reeling from the Facebook debacle last week. The entire tech sector continues to get slammed, down about 1.6% for the day half an hour or so before the closing bell. Energy stocks were the day’s best performers, up about 1%.

WTI crude oil for September delivery settled at $70.13 a barrel, up 2.1% for the day. December gold settled down less than 1% at $1,231.50. Equities were heading for a lower close about 10 minutes before the bell as the Dow traded down 0.58% for the day, the S&P 500 traded down 0.61%, and the Nasdaq Composite traded down 1.37%.

Bitcoin futures (XBTQ8) for August delivery traded at $8,060, down about 1.7% on the CBOE after opening at $8,185 this morning. The trading range today was $7,850 to $8,270.

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The Dow stock posting the largest daily percentage loss ahead of the close Monday was Visa Inc. (NYSE: V) which traded down 2.76% at $136.82 in a 52-week range of $99.14 to $143.14. Volume was around 10% above the daily average of some 7.2 million shares.

American Express Co. (NYSE: AXP) traded down 2.67% at $101.08. The stock’s 52-week range is $83.97 to $104.24. Volume was nearly 10% above the daily average of around 3.4 million shares.

The Boeing Co. (NYSE: BA) traded down 2.56% at $351.41. The 52-range on the stock is $230.94 to $374.48. Volume of around 2.5million was about 25% below the daily average.

Microsoft Corp. (NASDAQ: MSFT) traded down 2.18% at $105.33. The stock’s 52-week range is $71.28 to $111.15. Volume was about 10% above the daily average of around 26 million.

Of the Dow stocks, 13 were set to close higher Monday and 17 were on track to close lower.

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About the Author Paul Ausick →

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.