Page 25 - ARUBA TODAY

BUSINESS Wednesday 18 december 2019
A25

Rally for US stocks plods into fifth day; oil keeps rising

By STAN CHOE BUBBLING UP: Energy stocks
Associated Press in the S&P 500 rose 0.5% for
NEW YORK (AP) — U.S. one of the bigger gains
stocks nudged higher among the 11 sectors that
again on Tuesday, and the make up the index.
modest gains put the S&P Crude oil has been touch-
500 on pace to rise for a ing its highest price in three
fifth straight day. months, and Noble Energy
After flitting between small rose 1.9% for one of the big-
gains and losses in the first ger gains among stocks in
hour of trading, U.S. in- the S&P 500, and Hallibur-
dexes added a bit more in ton rose 1.5%.Benchmark
midday trading to the re- U.S. crude rose 64 cents, or
cords they set a day earlier. 1.1%, to $60.85 per barrel.
Stocks have been vaulting The last time it was over $61
higher in the last week on was in September. Brent
optimism about an interim crude, the international
U.S.-China trade deal an- standard, gained 57 cents
nounced on Friday. A Fed- to $65.91 per barrel.
eral Reserve meeting last YIELDS: The yield on the 10-
week also spurred buying year Treasury crept back
after investors saw signals down to 1.87% from 1.89%
from Chairman Jerome late Monday. The two-
Powell that interest rates year yield slipped to 1.6 1
will stay low for a while. In this Dec. 13, 2019, file photo trader Peter Tuchman left, works on the floor of the New York Stock % from 1.65%, and the 30-
Exchange.
Gains for Amazon, Tar- Associated Press year yield fell to 2.30% from
get and other companies 2.31%.
that depend on spending check. 500 was up 0.1% as of 11:37 The Dow Jones Industrial ECONOMIC SIGNALS: In-
by consumers helped to Treasury yields gave back a.m. Eastern time. If it stays Average rose 58 points, or dustrial production and
push the S&P 500 modestly some of their gains from a up for the day, it would 0.2%, to 28,294, and the manufacturing were stron-
higher, but drops for Unit- day earlier, while the price be the fifth straight gain Nasdaq composite was vir- ger last month than econ-
edHealth, Boston Scien- of crude oil continued its for the index. Slightly more tually flat. The Russell 2000 omists expected, but they
tific and other health care recent march higher. stocks rose than fell on the index of smaller stocks was still are weaker than a year
stocks kept the market in KEEPING SCORE: The S&P New York Stock Exchange. also flat. ago. q
Employers post more jobs in October in sign of solid economy

By CHRISTOPHER RUGABER The figures follow a healthy Job openings jumped
Associated Press jobs report earlier this 125,000 in the retail sec-
WASHINGTON (AP) — The month that showed a sur- tor, likely reflecting strong
number of available jobs prisingly robust gain of demand for temporary
jumped in October af- 266,000 jobs while the un- workers for the holiday
ter hitting an 18-month employment rate fell to a season.
low the previous month, 50-year low of 3.5%. The government seeks
a sign the job market re- “The numbers should calm to seasonally adjust the
mains strong. worries that employer de- data for those fluctua-
The Labor Depart- mand for workers is dry- tions but isn’t always able
ment said Tuesday that ing up,” said Julia Pollak, to do so perfectly.q
the number of avail- chief economist at ZipRe-
able positions rose 3.3% cruiter. “Rather than fall-
to nearly 7.3 million. That ing substantially, job open-
suggests that businesses ings now appear to have
remain confident enough remained fairly stable for
in the economic outlook over a year.”The number In this Nov. 27, 2019 photo a passer-by walks past a hiring for
to create more jobs. of Americans who quit their the holidays sign near an entrance to a Target store location, in
The figures provide the jobs also rose, though that Westwood, Mass.
latest evidence that figure remains below the Associated Press
employers have largely peak reached in July. Quits
shrugged off the uncer- are a good sign for the
tainties surrounding the economy because most
U.S.-China trade war and workers quit jobs for new,
slowing global growth. usually higher-paying, po-
While the number of open sitions. Data compiled by
jobs has declined from a the Atlanta Federal Re-
record high of 7.6 million serve Bank show that work-
a year ago, they are still ers who switch jobs are see-
at a historically high level. ing larger wage gains than
For roughly a year and those who stay. More quits
a half there have been can also push companies
more job postings than to pay more to retain their
unemployed people. staffs.