Page 25 - ARUBA TODAY

BUSINESS A25
Thursday 28 December 2017

US stock indexes eke out gains in quiet day on Wall Street

Maria Averna, a lead supervisor for New York Stock Exchange Operations, monitors trading at the “Trading is obviously very led the pack, climbing $2.47,
light, but the market is cer- or 3.4 percent, to $75.46.
exchange, Wednesday, Dec. 27, 2017. tainly going out on a high as Separately, the Conference
we head into the end of the Board said its latest consum-
(AP Photo/Mark Lennihan) year,” said Erik Davidson, er confidence index declined
chief investment officer for slightly this month, just miss-
By ALEX VEIGA Technology, health care and goods manufacturers de- Wells Fargo Private Bank. ing analysts’ forecasts. The
AP Business Writer industrials stocks accounted clined the most, following a The Standard & Poor’s 500 decline in the index drove a
U.S. stock indexes capped an- for much of the gain. A report late-afternoon slide. Energy index gained 2.12 points, or pickup in bond purchases,
other quiet day on Wall Street showing that pending U.S. stocks also fell along with the 0.1 percent, to 2,682.62. The sending prices higher. The
Wednesday with slight gains, home sales inched higher last price of crude oil. Bond yields Dow Jones industrial aver- yield on the 10-year Treasury
recouping some of the mar- month helped lift homebuild- fell following a report show- age added 28.09 points, or slid to 2.41 percent from 2.48
ket’s modest losses from a er shares. ing U.S. consumer confidence 0.1 percent, to 24,774.30. percent late Tuesday.
day earlier. Retailers and consumer- dipped this month. The Nasdaq rose 3.09 points, “This is probably a little bit
or 0.04 percent, to 6,939.34. of an air pocket on light vol-
The Russell 2000 index of ume in terms of yields, but it
smaller-company stocks lost is clearly being impacted by
0.29 points, or 0.02 percent, the somewhat softer number
to 1,543.94. that we saw out of consumer
Wednesday was another confidence today,” said Bill
quiet, post-holiday day for Northey, senior vice president
the markets, though a couple at U.S. Bank Wealth Man-
of economic reports helped agement. Technology stocks
drive some trades. were among the biggest gain-
The National Association of ers Wednesday. Qorvo was up
Realtors said signed contracts the most, adding $1.36, or 2.1
to buy U.S. homes increased percent, to $67.26.
0.2 percent in November. The Several health sector stocks
report is a barometer of fu- also notched gains. Envi-
ture purchases. Most home- sion Healthcare picked up
builder shares moved higher 82 cents, or 2.4 percent, to
after the report. LGI Homes $34.56.q

US consumer confidence dips in December, remains strong

By PAUL WISEMAN Wednesday that its con- Board economist Lynn Fran- vember 2016. Economists is an unexpected sign of
AP Economics Writer sumer confidence index co. The business research watch the Conference weakness from the biggest
WASHINGTON (AP) — dipped to 122.1 in Decem- group’s index measures Board report closely be- driver of U.S. economic
Americans were a bit less ber from a revised 128.6 in consumers’ assessment cause consumer spend- growth,” Jennifer Lee, se-
confident about this econ- November. “Despite the of current conditions and ing accounts for about 70 nior economist at BMO
omy this month than they decline in confidence, their outlook for the next percent of U.S. economic Capital Markets, wrote
were in November, but consumers’ expectations six months. Their view of output. Forecasters had in a research report. “I’m
their spirits remained high remain at historically strong today’s conditions rose to predicted the index would not convinced it will play
overall during the holiday levels, suggesting econom- the highest level since June drop this month from No- out into weaker consumer
shopping season. ic growth will continue well 2001. But their expectations vember’s heights, but it fell spending but this is clearly
The Conference Board said into 2018,” said Conference were the lowest since No- more than expected. “This worth watching.”q