Page 25 - ARUBA TODAY

BUSINESS Thursday 7 June 2018
A25

US stocks on track for fourth gain in a row as banks jump

By MARLEY JAY has plunged since after it
NEW YORK (AP) — U.S. reported weak sales, an-
stocks are rising for the nounced more store clos-
fourth day in a row Wednes- ings, and dealt with com-
day as banks rise in tandem plications from the sale of
with interest rates. Technol- its credit portfolio. The stock
ogy companies and small- rose 20 percent to $52.87
er, more domestic-focused Wednesday.
companies continue to set FEELING WISE: Athena-
records as investors moni- health, a medical bill-
tor trade disputes between ing software company,
the U.S. and other countries climbed after it said it is ex-
as well as global economic ploring a possible sale. The
growth. Electric car maker company also said CEO
Tesla is gaining as investors Jonathan Bush resigned
grow more confident it will effective immediately. In-
meet its production targets vestor Elliott Management
for the Model 3 sedan. recently offered about
KEEPING SCORE: The S&P $6.5 billion to take Athe-
500 index added 10 points, nahealth private and said
or 0.4 percent, to 2,759 as it had grown frustrated
of noon Eastern time. The with the company's perfor-
Dow Jones industrial aver- mance. Athenahealth also
age climbed 205 points, or In this May 10, 2018, file photo signs for the New York Stock Exchange hang above the trading named former GE CEO Jeff
0.8 percent, to 25,005. The floor. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, June 6. Immelt as its new chair-
Nasdaq composite rose Associated Press man. The stock advanced
21 points, or 0.3 percent, 3.8 percent to $156.95.
to 7,659. The Russell 2000 nected with the creation of bon. The government said panies for a total of $3.13 ENERGY: Benchmark U.S.
index of smaller company a charitable foundation af- it would waive tariffs on billion. Global Infrastructure crude fell 1 percent to
stocks gained 4 points, or fected its earnings. Brown- pork from other countries Partners will buy its stakes in $64.89 a barrel in New York.
0.3 percent, to 1,669. Forman could also be to ensure adequate sup- EnLink Midstream Partners Brent crude, used to price
PUT IT IN DRIVE: Electric caught up in the trade ten- plies. Canada has also said and EnLink Midstream LLC. international oils, added
car maker Tesla rose after sions ignited by in response it's planning steel and alu- Devon increased its stock slipped 0.7 percent to
Chairman and CEO Elon to President Trump's deci- minum tariffs that will take buyback authorization and $74.86 per barrel in London.
Musk said he expects the sion last week to impose effect July 1, and the Euro- said the deal also reduces CURRENCY: The dollar rose
company will be able to tariffs on steel and alumi- pean Union is expected to its debt. The stock gained to 110.05 yen from 109.76
produce 5,000 Model 3 num imported from the Eu- announce its own response 6.5 percent to $41.86 while yen. The euro rose to
sedans in a single week ropean Union, Mexico and to the U.S. tariffs in the com- the two EnLink companies $1.1769 from $1.1715.
by the end of this month. Canada. The company ing weeks. both fell about 3 percent. OVERSEAS: The DAX in
That's Tesla's long term goal said it has concerns about Those issues are likely to take SHINY: Signet Jewelers Germany rose 0.1 percent
for production of the Model how possible tariffs on U.S. center stage when lead- soared after the company and France's CAC 40 lost
3, its attempt to reach the spirits would affect its sales. ers of the Group of Seven had a stronger first quarter 0.4 percent. In Britain, the
mass market with a less ex- Kentucky bourbon was in- meet Friday. Finance minis- than Wall Street expected FTSE 100 index edged up
pensive car. Tesla has strug- cluded on a list of possible ters of the other six govern- and said there are signs 0.2 percent. Tokyo's Nikkei
gled to reach that target, tariff targets by European ments expressed "concern its sales are stabilizing. The 225 rose 0.4 percent and
and doing so would help Union officials. and disappointment" over company also maintained Hong Kong's Hang Seng
the company stem its long- On Tuesday, Mexico an- the tariffs in a statement its annual forecasts. Sig- advanced 0.4 percent.
term losses. nounced duties of 15 to 25 last weekend. net traded as high as $75 South Korean markets were
Tesla shareholders also re- percent on imports from ENERGETIC: Devon Energy a share in November but closed for a holiday.q
jected a proposal to over- the United States including climbed after it said it will
haul the board of directors pork, steel tubes and bour- sell its interest in two com-
and strip Musk of his role as
chairman. The stock gained
6 percent to $308.46.
BONDS: Bond prices
slipped. The yield on the
10-year Treasury note rose
to 2.97 percent from 2.93
percent. Higher yields can
signal higher rates on mort-
gages and other consumer
loans. JPMorgan Chase
climbed 2.1 percent to
$110.10 and Bank of Amer-
ica gained 2.4 percent to
$29.81.
NEED A DRINK?: Jack Dan-
iel's maker Brown-Forman
slumped 5.2 percent to
$52.98. The company's
sales fell short of analyst
projections while costs con-