Page 25 - ARUBA TODAY

BUSINESS Thursday 27 July 2017
A25

US stocks edge higher; bond yields fall following Fed

ter the Fed’s decision.
By STAN CHOE The best-performing area
AP Business Writer
NEW YORK (AP) — U.S. of the market was the tele-
com sector, which jumped
stock indexes inched fur-
ther into record territory after AT&T reported stron-
ger second-quarter earn-
Wednesday after AT&T,
Boeing and others joined ings than Wall Street had
forecast.
the parade of big compa-
nies reporting stronger prof- Its stock rose $1.81, or 5 per-
cent, to $38.03.
its than analysts expected.
Stocks that pay big divi- Boeing was the top-per-
forming stock, and it had its
dends were particularly
strong after the Federal best day in more than eight
years after it raised its fore-
Reserve took a pause in its
slow-moving campaign to cast for earnings this year
and reported better-than-
lift interest rates, as Treasury
yields sank lower. expected earnings for the
second quarter. It jumped
The Standard & Poor’s 500
index edged up by 0.70 $20.99, or 9.9 percent, to
$233.45.
points, or less than 0.1 per-
cent, to 2,477.83 and add- AT&T and Boeing were only
the latest companies to re-
ed a whisper to its record
port healthier profits for the
high set a day earlier. Traders Peter Tuchman, left, and Robert Charmak, right, work on the floor of the New York Stock April-through-June quarter
The Dow Jones industrial Exchange, Wednesday, July 26, 2017. U.S. stock indexes inched further into record territory than analysts expected.
average gained 97.58 Wednesday after AT&T, Boeing and others joined the parade of big companies reporting stronger “We’ve seen some pretty
points, or 0.5 percent, to profits than analysts expected.
21,711.01, and the Nas- (AP Photo/Richard Drew) strong results from impor-
tant companies,” said John
daq composite rose 10.57
points, or 0.2 percent, to the 10-year yield fell to 2.29 Lower bond yields make following the Fed’s an- Wilson, senior equity portfo-
percent from 2.33 percent the dividends paid by nouncement. Utility stocks lio manager at Columbia
6,422.75. Both are at re-
cord highs. The Russell 2000 late Tuesday. The two-year stocks more attractive, and in the S&P 500 climbed 0.9 Threadneedle. “They’re
percent, for example, more delivering very strong rev-
index of smaller-company yield sank to 1.35 percent the biggest dividend pay-
stocks dipped 8.11 points, from 1.39 percent. ers picked up momentum than doubling their gain af- enue and profit growth.q
or 0.6 percent, to 1,442.28,
change was nearly evenly New-home sales improved modestly in June
and the New York Stock Ex-

split between stocks that
rose and fell. By JOSH BOAK broader shortage of homes year average,” said Ralph Sales last month advanced
While announcing its de- AP Economics Writer listed for sale, likely pushing McLaughlin, chief econo- in the Midwest and West,
cision to hold short-term WASHINGTON (AP) — U.S. more buyers into new con- mist at the real estate firm but purchases were un-
rates steady, the Federal sales of new homes perked struction. Trulia. “But the signs for changed in the North-
Reserve said that it may up slightly in June, a sign Despite steady growth home builders are clear: if east and dropped in the
begin paring the massive that more would-be buy- since the housing bubble you build, they will come.” South.q
$4.5 trillion balance sheet it ers are seeking newly built began to burst a decade
built up following the finan- properties. ago, sales of new homes CONDO FOR SALE
cial crisis “relatively soon,” The Commerce Depart- remain below historic aver-
which some analysts took ment said Wednesday that ages. Builders are contend-
to mean as September. new-home sales edged up ing with a lack of land for 3 BEDROOM CONDO in Tierra del Sol.
The Fed also said that infla- 0.8 percent to a season- construction, a shortage of Facing the Golf Course ground oor,
tion looks to remain below ally adjusted annual rate workers and rising costs for
its target of 2 percent in of 610,000. Sales have reg- some materials. move in condition with furniture and new
the near term. istered a healthy 10.9 per- “When taking into account airco system
After the Fed’s announce- cent increase so far this the size of the U.S., new
ment, drops for Treasury year. home sales are still about Contact Owner at stemel@optonline.net,
yields accelerated, and The gains come amid a 30 percent below the 50- in USA for more information: 203-526-9329.