The Dow Jones Industrial Average shed 27 points to close at 12,938.67 as persistent EU concerns and a disappointing revision of the December home sales data weighed heavily on investors’ minds.
The Nasdaq lost 15.40 points to end at 2,933.17 while the S&P 500 lost 4.55 points to close at 1,357.66.
In economic news, existing home sales surged 4.3% in January to an annual rate of 4.57 million units, an 18-month high, according to the National Association of Realtors, but economists and investors were put off by the organization’s sharp downward revision to December’s promising sales totals. However, the mood of the report was dampened by a
Meanwhile, Fitch cut its rating for Greek sovereign debt from “CCC” to “C,” warning that a default is “highly likely in the near term.”
Perhaps most concerning, particularly to investors with extensive international exposure, China reported a fourth consecutive month of contraction in its manufacturing sector.
Here are some more details from Wednesday’s trading session:
Dow Jones Industrial Average:
- Today’s drop snaps a three-day up streak.
- An intraday high of 12977.91 occurred at 10:18:54 today, representing an increase of 12.22 points or 0.09%.
- An intraday low of 12914.83 occurred at 12:08:00 today, representing a decrease of 50.86 points, or 0.39%.
- Today’s session had a trading range of 63.08 points, its narrowest intraday swing since January 19, 2012.
- Ten of the 30 component stocks rose, 20 fell.
- Today's top five contributors to The Dow's movement and their point contribution: CAT (6.13), IBM (3.63), KO (3.25), XOM (2.65), BA (2.57).
- Today's bottom five laggards: WMT (-11.13), CVX (-6.89), KFT (-4.39), INTC (-3.25), HPQ (-3.10).
- Down 8.65% from its record close of 14164.53 on October 09, 2007.
- Up 97.63% from its 12-year closing low of 6547.05 on March 9, 2009.
- Up 6.88% from 52 weeks ago.
- Up 4.68% from its 2012 closing low of 12359.92 on January 06, 2012.
- Down 0.21% from its 52-week high of 12965.69 on February 21, 2012.
- Up 21.43% from its 52-week low of 10655.30 on October 03, 2011.
- Month-to-date: up 2.42%.
- Year-to-date: up 5.90%.
- DJIA crossed zero 29 times during today's trading session.
Dow Jones U.S. Total Stock Market Index:
- Dow Jones U.S. Total Stock Market, 14147.55, down 52.90 points, or 0.37%, or approximately $62.9 billion in market capitalization.
- Down two consecutive trading days.
- Down 60.68 points, or 0.43%, over the two-day period.
- Largest two-day points and percentage decline since February 15, 2012.
- Down four of the past six trading days.
- Down 10.15% (approximately $2.7 trillion in market cap), from its record close of 15745.39 on October 09, 2007.
- Up 108.05% (approximately $8.5 trillion in market cap), from the 12-½ year closing low of 6800.08 on March 9, 2009.
- Up 3.78% from 52 weeks ago.
- Down 0.43% from its 2012 closing high of 14208.23 on February 17, 2012.
- Up 7.12% from its 2012 closing low of 13206.64 on January 04, 2012.
- Down 1.12% from its 52-week high of 14308.37 on April 29, 2011.
- Up 25.21% from its 52-week low of 11299.07 on October 03, 2011.
- Month-to-date: up 3.54%, or approximately $562 billion in market cap.
- Year-to-date: up 8.67%, or approximately $1.3 trillion in market cap.
Data courtesy of Dow Jones Indexes.
