4 stocks that weighed on mar­kets

Financial Mirror (Cyprus) - - FRONT PAGE -

Mar­kets opened higher on Mon­day fol­low­ing Fri­day’s strong re­port on in­dus­trial pro­duc­tion that was later de­scribe as a catch-up phase from pre­vi­ous growth. But the big drag ap­pears to have been crude oil again, which closed be­low $56 a bar­rel on the Nymex. Shortly be­fore the clos­ing bell the DJIA traded down 0.57% for the day, the S&P 500 traded down 0.58%, and the Nas­daq Com­pos­ite traded down 0.94%.

The DJIA stock post­ing the largest daily loss ahead of the close Mon­day was McDon­ald’s Corp. (NYSE: MCD) which traded down 2.36% at $88.48. The stock’s 52-week range is $88.38 to $103.78, and the low was posted on Mon­day. Trad­ing vol­ume was about a 35% above the daily av­er­age of around 6 mln shares. There was no spe­cific news for the company, but re­cently an­nounced sales de­clines and menu changes are weigh­ing in again.

The Gold­man Sachs Group Inc. (NYSE: GS) traded down 1.62% at $185.77. The stock’s 52week range is $151.65 to $198.06. Vol­ume was about 15% above the daily av­er­age of around 3 mln shares. Gold­man an­nounced a slew of new ETFs on Fri­day, and in­vestors might be think­ing now is not the best time for this.

Chevron Corp. (NYSE: CVX) traded down 1.50% at $100.84. The stock’s 52-week range is $100.42 to $135.10. Trad­ing vol­ume was about 35% above the daily av­er­age of around 8 mln shares. The in­te­grated oil company has pulled out of a huge nat­u­ral gas deal in Ukraine, and oil prices con­tinue to slide.

Merck & Co. Inc. (NYSE: MRK) traded lower by 1.30% at $56.97. The stock’s 52-week range is $47.61 to $62.20. Vol­ume was about 10% be­low the daily av­er­age of around 11 mln shares.

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