Page 25 - ARUBA TODAY

BUSINESS Wednesday 7 March 2018
A25

Stocks edge higher as materials firms and retailers rise

By MARLEY JAY ing a three-day losing
NEW YORK (AP) — U.S. streak last week after Trump
stocks meandered but fin- announced his tariff plans.
ished mostly higher Tuesday Other countries objected
as retailers and industrial and the European Union
companies rose. A jump in announced plans to put
metals prices helped min- tariffs on some U.S.-made
ing and materials compa- goods including bourbon
nies. Asian markets jumped and motorcycles. Com-
after the North Korean gov- panies that make most of
ernment said it was open their sales overseas have
to talks with the U.S. about fared the worst while U.S.-
ending its nuclear program. focused companies have
Stocks have edged higher regained their losses from
over the last three days, but that three-day stretch.
they've frequently bounced Asian markets climbed af-
up and down as investors ter North Korea said it is
grappled with the Trump willing to start talks with the
administration's stance on U.S. on denuclearization. It
trade and whether the pro- also said it would stop nu-
posed tariffs on steel and clear and missile tests dur-
aluminum imports will push ing those discussions. The
inflation higher in the U.S. U.S. Olympic gold medal women's hockey team member Jocelyne Lamoureux-Davidson, center, Kospi in Seoul jumped 1.5
and lead to retaliation by shoots the puck against New York Stock Exchange President Tom Farley on the floor of the New percent while Tokyo's Nikkei
other countries that would York Stock Exchange, before the team rang the opening bell Tuesday, March 6, 2018. 225 rose 1.8 percent. Hong
hurt economic growth and (AP Photo/Richard Drew) Kong's Hang Seng index
corporate profits. climbed 2.1 percent.
Kristina Hooper, chief glob- "When it seemed as though Ryan spoke up against the as much as 120 points early While retailers including
al markets strategist for In- it was just rhetoric (Mon- proposed tariffs Tuesday on and later fell as much as Amazon, Best Buy and
vesco, said Wall Street is day), markets relaxed," and called for a "more sur- 166 points before recover- Lowe's gained ground,
having trouble deciding she said. "Today, I think gical approach" that might ing. The Nasdaq compos- Target lost $3.35, or 4.5
if the tariffs are more of a concerns have grown that cause less backlash. ite jumped 41.30 points, or percent, to $71.79 after it
bargaining chip in trade maybe this isn't just a bar- The Standard & Poor's 500 0.6 percent, to 7,372.01. reported that costs associ-
negotiations, as President gaining tactic." She said index rose 7.18 points, or The Russell 2000 index of ated with overhauling its
Donald Trump has suggest- Republicans in Congress 0.3 percent, to 2,728.12. smaller-company stocks stores and investing in its
ed at times in the last few don't seem to be treating The Dow Jones industrial climbed 16.16 points, or 1 website affected its earn-
days, or if they are a goal the tariffs as a bargaining average edged up 9.36 percent, to 1,562.20. ings and forecasts for the
on their own. move: House Speaker Paul points to 24,884.12. It rose Stocks fell 3.7 percent dur- current year. q

Target, seeing better candidates, raises starting pay, again

NEW YORK (AP) — Target is an hour by 2020. ployers are having a harder pace in eight years in Janu- been raising their minimum
raising its minimum starting On Tuesday, CEO Brian time attracting and keep- ary. U.S. employers added wage each year since
pay for workers for the sec- Cornell said that the num- ing employees. a robust 200,000 jobs during 2016, when it boosted pay
ond time in less than a year ber of job applicants rose Last month, the U.S. Depart- the month, and the unem- from $9, to $10.
after seeing a bigger and by 60 percent in the days ment of Labor reported that ployment rate hovered at Walmart said in January
better pool of candidates. after Target increased its wages grew at the fastest 4.1 percent for the fourth that it would boost its start-
The Minneapolis retailer, minimum wage by $2, to consecutive month. ing pay for U.S. employees,
which hiked starting pay $11 per hour. But Target has essentially q
to $11 an hour last fall, said The pay increase was an-
all workers this spring will re- nounced at Target's annual
ceive a minimum of $12 per investor conference in Min-
hour. neapolis.
Target said in September The American job mar-
that it planned to raise ket has been warming for
starting hourly pay to $15 years, meaning that em-