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BUSINESS Saturday 9 June 2018
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Household goods makers lead stocks as G-7 summit begins

By MARLEY JAY the European Central Bank
Associated Press and Federal Reserve both
NEW YORK (AP) — U.S. hold major meetings. In-
stocks are higher Friday af- vestors are nearly certain
ternoon after small losses the Fed will raise interest
the day before. Household rates for the second time
goods makers and health this year, out of three the
care companies are ris- Fed says it's planning. If the
ing, but energy companies Fed hints it's considering a
are slipping. Investors have fourth increase later in the
treaded cautiously over year, it might jolt the stock
the last two days ahead of market.
the Group of Seven sum- "Any more than three hikes
mit, which started Friday. this year is a headwind for
Leaders from Canada and equities," said Wren.
France say they will con- He added that the ECB
front U.S. President Donald will probably start to pare
Trump over tariffs he is im- back its economic stimulus
posing. moves even though the Eu-
KEEPING SCORE: The S&P ropean economy slowed in
500 index added 7 points, the first quarter.
or 0.3 percent, to 2,777 as EARNINGS: Online clothing
of 2:45 p.m. Eastern time. retailer Stitch Fix jumped 20
The Dow Jones industrial percent to $23.60 after it
average rose 57 points, or beat Wall Street's expecta-
0.2 percent, to 25,298 after tions in its fiscal third quar-
a small gain on Thursday. ter.
The Nasdaq composite FUNTIME: Toymaker Funko
gained 14 points, or 0.2 per- continued to rally, climbing
cent, to 7,649. 6.1 percent to $11.99. The
The Russell 2000 index of stock went public in No-
smaller-company stocks Trader Fred DeMarco works on the floor of the New York Stock Exchange, Friday, June 8, 2018. vember at $12 a share, but
advanced 5 points, or 0.3 Associated Press fell 50 percent through the
percent, to 1,673. Smaller end of 2017. It's up 80 per-
and more U.S.-focused said the outcome of the cent to $79.26 after it raised Wholesale gasoline stayed cent this year.
stocks like those on the Rus- contentious trade talks be- its quarterly dividend, while at $2.12 a gallon. Heat- BONDS: Bond prices were
sell have fared better than tween the U.S., China and Reuters said the compa- ing oil shed 0.7 percent to little changed. The yield on
the rest of the market in others might be different ny plans to start selling its $2.16 a gallon. Natural gas the 10-year Treasury note
recent months as investors from what Wall Street ex- tobacco-heating Iqos de- fell 1.4 percent to $2.89 per remained at 2.93 percent.
react to concerns about in- pects. vice in India, the second- 1,000 cubic feet. METALS: Gold was little
ternational trade. The Rus- "The end result probably most populous country in Energy companies fol- changed at $1,302.70 an
sell is up 9 percent this year is going to be lower tariffs the world. lowed suit. Halliburton ounce. Silver declined
and the S&P 500 is up 3.9 across the board," he said. ENERGY: Benchmark U.S. slumped 2.4 percent to 0.4 percent to $16.74 an
percent. While new tariffs are likely crude slid 0.3 percent to $47.74 and Noble Energy ounce. Copper rose 0.8
GROUP OF SEVEN: Leaders to be announced in the $65.74 a barrel in New York. lost 2.6 percent to $33.93. percent to $3.30 a pound,
from the Group of Seven coming weeks and months, Brent crude, used to price THE WEEK AHEAD: Wall its highest price this year.
wealthy industrialized na- Wren said the negotiations international oils, fell 0.6 Street will be focused on CURRENCIES: The dollar
tions are meeting in Cana- could ultimately result in a percent to $76.82 per bar- central banks even more dipped to 109.50 yen from
da, where Trump's new tar- lot of older tariffs on U.S. im- rel in London. than usual next week as 109.71 yen. q
iffs on are expected to be ports and exports being re-
a major focus. The White duced or eliminated.
House is expecting a chilly ROAD TO RECOVERY: Con-
reception from Canada sumer products makers,
and western European which have struggled for
countries. The leaders of the last few months, rose for
France and Canada in the second day in a row.
particular on Thursday ex- Monster Beverage climbed
pressed in tough terms their 4.8 percent to $55.37 af-
disapproval of the tariffs. ter its annual shareholder
Trump is expected to leave meeting. Stifel analyst Mark
the summit before it official- Astrachan said the compa-
ly concludes as he heads ny's sales growth is solid. He
to Singapore ahead of his said the company plans to
meeting with Kim Jong Un raise its U.S. prices later this
of North Korea. year in response to higher
THE QUOTE: Investors don't aluminum prices following
expect much progress on the tariffs.
trade deals at the meeting, Elsewhere, Tide maker
according to Scott Wren, Procter & Gamble gained
senior global equity strate- 1.6 percent to $77. Ciga-
gist for the Wells Fargo In- rette maker Philip Morris
vestment Institute. But he International rose 2.4 per-