Page 25 - ARUBA TODAY

BUSINESS Thursday 16 November 2017
A25

Airbus to sell 430 US stocks decline for a second straight day
planes to Indigo

for $49.5 billion of the good news on the at a healthy level. In ad-
economy, earnings and dition, the Labor Depart-
By JON GAMBRELL even the potential for a ment said consumer prices
Associated Press tax-reform bill are to a edged up 0.1 percent last
DUBAI, United Arab Emir- great extent already built month, the smallest gain in
ates (AP) — Airbus signed into current prices.” three months. That followed
a $49.5 billion deal on The Standard & Poor’s 500 a report earlier this week
Wednesday to sell 430 index fell 14.25 points, or 0.6 showing that prices at the
airplanes to the Phoenix- percent, to 2,564.62. The wholesale level spiked last
based private equity firm Dow Jones industrial aver- month.
that owns Frontier Airlines, age lost 138.19 points, or “The inflation data that was
striking the European aero- 0.6 percent, to 23,271.28. released this week are basi-
space firm’s biggest deal The Nasdaq composite slid cally giving a green light to
ever at the Dubai Air Show. 31.66 points, or 0.5 percent, the Fed to raise rates,” said
Meanwhile, Boeing to 6,706.21. The Russell 2000 Quincy Krosby, chief mar-
reached an agreement SendGrid CEO Sameer Dholakia, center, is cheered on by index of smaller-company ket strategist at Prudential
with low-cost carrier Fly- New York Stock Exchange President Tom Farley, right, as he stocks gave up 7.16 points, Financial.
Dubai to sell 225 Boeing rings a ceremonial bell as his company’s IPO begins trading, or 0.5 percent, to 1,464.09. Investors were keeping an
737 MAX 10 aircraft — a Wednesday, Nov. 15, 2017. (AP Photo/Richard Drew) The major indexes are all in eye on Washington, where
the red for the month, but Senate Republicans be-
deal valued at $27 billion. By ALEX VEIGA the market’s losses from a still near their most recent gan pushing their version
The biennial air show closes AP Business Writer day earlier and added to record highs.
on Thursday. Technology companies led its pullback in November. of a major tax overhaul
Stocks were headed low-
that would slash corporate
“It’s ended up going out U.S. stocks lower Wednes- Unlike October’s broad er from the get-go on taxes. But the Senate mea-
on a high,” airline analyst day, giving the market its market rally, fewer stocks Wednesday as investors sure was complicated by
John Strickland of JLS Con- biggest loss since early Sep- and sectors have been weighed a batch of new the last-minute inclusion of
sulting said. “It shows once tember. notching gains this month, government data on infla-
again the importance of Grocery stores and pack- and the latest market de- a repeal of the section of
tion, retail sales and manu-
this part of the world to the aged foods and beverage cline reflects that, noted facturing. the Affordable Care Act
big airplane manufactur- companies also account- Bruce Bittles, chief invest- that requires Americans to
ers.” ed for much of the decline. ment strategist at Baird. The Commerce Depart- get insurance coverage.
ment said retail sales rose The legislative push also
The Airbus deal with In- Energy stocks fell as the “And that’s exemplary 0.2 percent in October, appeared to hit a snag
digo Partners will split 273 price of crude oil closed of a market that’s losing while a closely watched re-
Wednesday, when Sen.
A320neos and 157 A321ne- lower a day after its biggest momentum, and that’s port by the Federal Reserve Ron Johnson of Wisconsin
os among Denver-based loss since October. Banks the real story here,” Bittles Bank of New York showed said he opposes the GOP
Frontier, JetSMART of Chile, and phone companies said. “It means the mar-
manufacturing expanded tax bill, saying it helps cor-
Volaris of Mexico and Wizz eked out modest gains. ket is struggling here, and at a slower pace this month porations more than other
Air of Hungary, all ultra-low-
cost airlines associated The latest slide extended it could mean that a lot in New York, but remained businesses. q
with Indigo.
A321neo are twin-engine, US retail sales up for 2nd month led by cars, clothes
The A320neo and the
single-aisle planes popular
among airlines because By CHRIS RUGABER widespread. Consumers on their credit card bills more overdue rose to 2.4
of their reduced fuel con- AP Economics Writer spent more at electronics, rose to 4.6 percent, the percent from 2.3 percent.
sumption. WASHINGTON (AP) — U.S. grocery, clothing and New York Fed said, up Still, low interest rates mean
The surprise announce- retail sales rose at a solid sporting goods stores. from 4.4 percent a year that U.S. households’ debt
ment came after Airbus on pace last month, as bullish Restaurants and bars earlier. The share of auto payments, on average,
Sunday suffered the em- consumers bought more reported a healthy 0.8 loans that are 90 days or aren’t historically high.q
barrassment of believing cars, furniture and clothes. percent increase, the
it had struck a major deal Retail sales increased 0.2 biggest gain since January.
with the state-owned car- percent in October, the Americans are boosting
rier Emirates to sell its A380 Commerce Department their spending, but
double-decker jumbo jet, said Wednesday, after a incomes are rising only
only to see Boeing sit on healthy 1.9 percent gain modestly. That has pushed
the podium with the air- in the previous month. more people to borrow to
line and sign a $15.1 billion September’s gain was the finance their purchases,
deal. “Just to clarify: This is largest in 2 ½ years and particularly of autos. That
not an A380 press confer- was driven by big increases has renewed worried about
ence,” joked John Leahy, in auto and gas sales in the whether U.S. households
Airbus’ sales chief, at the wake of Hurricanes Harvey can stay on top of their
start of the announcement. and Irma. burgeoning debt loads.
A320neos list for $108.4 mil- Americans are spending Auto loans and credit card
lion apiece and A321neos more freely as confidence debt rose sharply in the
at $127 million. Airlines and in the economy has July-September quarter,
manufacturers negotiate jumped in the past year according to a report
lower prices for big deals and the unemployment Tuesday by the Federal
like these, something Indi- rate is at a 17-year low. Reserve Bank of New
go’s managing partner Bill Excluding gas station sales, York. That pushed total
Franke was quick to stress which fell sharply as prices household debt to a record
afterward. dropped, retail sales rose high of nearly $13 trillion.
“Here’s hoping,” he told re- 0.4 percent last month. The proportion of
porters. q Sales gains were Americans falling behind