June 8, 2017
June 8, 2017: The S&P 500 closed ever so slightly higher, up 0.03% at 2,433.78. The DJIA closed up 0.05% at 21,184.24. Separately, the Nasdaq closed up 0.4% at 6,321.76. The markets moved up and down around the testimony of former FBI Director James Comey on Thursday, and the Dow briefly hit a new high as no new major bombshell statements about President Trump and Russia were made.
Thursday was more or less another flat day for the broad markets with the exception of the Nasdaq, which closed at a record high. As for the S&P 500, the only strong sector in Thursday’s session was financials, where mega-cap money center banks again lead the charge, followed by investment houses and life insurance as the top performers in the group.
There were some decent gains in major industrial stocks as well. The tech sector was again hit or miss although some of the smaller stocks in the index had a positive day. Consumer staples were largely negative on Thursday along with some select retailers and entertainment stocks. Health care stocks were mixed on the day but the mega-caps were mostly negative. Utilities had a poor day as well and this group was negative across the board.
Crude oil went to a on-month low on Thursday after taking a hit this week. Crude was last seen trading at $45.69. Gold gave back its gains this week and was last trading down about 1% at $1,280.90.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Thursday was Urban Outfitters, Inc. (NASDAQ: URBN) which traded down over 10% at $16.33. The stock’s 52-week range is $16.19 to $40.80. Volume was over 12 million versus the daily average of 3.7 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Thursday was Yahoo! Inc. (NASDAQ: YHOO), which rose over 10% to $55.74. The stock’s 52-week range is $35.05 to $55.90. Volume was over 54 million on the day compared to the average of 8.2 million.