Caterpillar, Exxon Sink the Dow Thursday

Print Email

August 23, 2018: Markets opened mixed again Thursday and once again equities stayed within easy reach of the break-even line. A typical summer-doldrums kind of day with low volume and no big news. The tech sector is the only one to have posted a gain of any size and the big losers were basic materials and energy.

WTI crude oil for October delivery settled at $67.83 a barrel, down 3 cents on the day. December gold dropped 0.8% to settle at $1,194.00. Equities were heading for a lower about 10 minutes before the bell as the Dow traded down 0.35% for the day, the S&P 500 traded down 0.20%, and the Nasdaq Composite traded down 0.11%.

Bitcoin futures (XBTU8) for September delivery traded at $6,415, up about 2% on the Cboe after opening at $6,350 this morning. The trading range today was $6,220 to $6,470.

The Dow stock posting the largest daily percentage loss ahead of the close Thursday was Caterpillar Inc. (NYSE: CAT) which traded down 1.98% at $136.87. The stock’s 52-week range is $114.30 to $173.24. Volume was about 40% below the daily average of around 4.3 million shares.

Exxon Mobil Corp. (NYSE: XOM) traded down 1.28% at $78.94. The stock’s 52-week range is $72.16 to $89.30. Volume was about 40% below the daily average of around 11.1 million.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 0.93% at $237.12. The 52-range on the stock is $214.64 to $275.31. Volume was about half the daily average of 2.9 million.

McDonald’s Corp. (NYSE: MCD) traded down 0.87% at $159.14 in a 52-week range of $146.84 to $178.70. Volume was about 45% below the daily average of around 3.6 million shares.

Of the Dow stocks, 10 were set to close higher Thursday and 20 were on track to close lower.

I'm interested in the Newsletter