March 21, 2017: The S&P 500 closed higher on the day, up 0.19% and 4.43 points to 2,348.45. Separately the DJIA closed relatively flat down 0.03% on the day at 20,661.58, down approximately 6.43 points. After the broad markets took a shot yesterday, everything seems to be back to normal with the markets stabilizing and trading sideways.
Overall the market was up slightly or flat across the board. The biggest losers on Wednesday were major telecom stocks, retail REITs, and textiles. On the other hand, the tech sector rallied as a whole with the exception of telecom. Green arrows were also seen in a large number of stocks in the services sector.
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Crude oil is continuing to edge below the $50 mark even if this was just ever so slightly. Crude closed down 0.19% at $48.15.
Gold has continued to push above the $1,200 level, it rose 0.09% or $1.10, closing at $1,247.60.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Nike Inc. (NKE) which traded down 7% at $53.93. The stock’s 52-week range is $49.01 to $63.45. Volume was roughly 34 million versus the daily average of 9.0 million shares. Shares were trading lower on the day despite the firm posting a strong earnings beat Tuesday after the markets closed.
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The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Wednesday was Marriot International, Inc. (MAR) which jumped 3.4% to $92.16. The stock’s 52-week range is $60.87 to $92.23. Volume was 4.2 million which is above the daily average of around 2.3 million shares.