Market Overview

Worst Performing Industries For May 24, 2016

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The Dow rose 1.18 percent to 17,699.82, while the NASDAQ composite index climbed 1.58 percent to 4,841.16. The broader Standard & Poor's 500 index rose 1.22 percent to 2,072.99.

The worst performing industries in the market today are:

Electronics Stores: This industry slipped 5.4 percent by 11:00 am. The worst stock within the industry was Best Buy Co Inc (NYSE: BBY), which fell 7.5 percent. Best Buy reported upbeat results for the first quarter, but issued a weak profit forecast for the current quarter. Best Buy also announced that part of an internal succession plan, Sharon McCollam, the company's chief administrative and chief financial officer, will be stepping down on June 14, 2016, and remain an advisor until January 28, 2017.

Silver: This industry declined 2.8 percent by 11:00 am with Endeavour Silver Corp (NYSE: EXK) moving down 6 percent. Silver futures fell 0.67 percent to trade at $16.33 an ounce.

Long Distance Carriers: This industry fell 1.2 percent by 11:00 am ET. Elephant Talk Communications Corp (NYSE: ETAK) shares dropped 3.7 percent in today's trading. Elephant Talk Communications shares have dropped 42.86 percent over the past 52 weeks, while the S&P 500 index has slipped 2.67 percent in the same period.

Gold: The industry dropped 0.9 percent by 11:00 am. The worst performer in this industry was Timmins Gold Corp (NYSE: TGD), which declined 14 percent. Gold futures dropped 1.4 percent to trade at $1,237.30 an ounce.

Posted-In: Worst Performing IndustriesNews Movers & Shakers Intraday Update Markets

 

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Top Performing Industries For May 24, 2016