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Apple, Boeing, Nike Biggest Dow Losers As Stocks Remain Stuck In Red

The stock market was lower Tuesday heading into the last hour of trading. (EPA/Newscom)

Stocks remained mired in the red Tuesday with an hour left to go in the regular trading session, as Apple (AAPL), Boeing (BA) and Nike (NKE) weighed on the Dow.

The Nasdaq and Dow Jones industrial average each fell 0.4%, while the S&P 500 was down 0.3%. Volume was running higher across the board vs. the same time Monday.

Gold miners, retailers and energy stocks led the downside in the stock market today. Lower crude prices pressured oil stocks as West Texas intermediate slid 1.2% to $46.42 a barrel.

Agricultural chemical, airline and fiber-optic stocks bucked the decline.

Boeing was the biggest loser on the Dow, falling 1.5% to breach its 50-day moving average for the first time in more than a month. For the first time since 2009 the jet maker will not raise prices on its aircraft, amid economic uncertainty, cheap oil and a supply glut, Bloomberg Markets reported Monday.

Apple and Nike gave up 1% each in light trade. Apple was on track to extend its slide for a fifth straight session amid news that the European Union's executive arm ordered the iPhone maker to repay 13 billion euros ($14.5 billion) in back taxes plus interest to Ireland.

Nike is 15% off its high and remains below its 200-day line. B. Riley & Co. on Friday cut its rating on the athletic powerhouse to neutral from buy.

On the IBD 50, Ulta Beauty (ULTA) shed 3% in heavy volume as it continued a sell-off that stemmed from its earnings report Thursday. The stock is 11% off its high as it slides further below its 50-day line.

But Gigamon (GIMO) rose 5% in heavy trade, nearing a new high. Stifel Nicolaus started covering the stock with a hold rating.

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