Page 24 - ARUBA TODAY

Wednesday 28 June 2017 BUSINESS
A24

Technology companies fall sharply, leading US indexes lower

By ALEX VEIGA Bond prices fell. The 10-year
AP Business Writer Treasury yield rose to 2.20
Technology stocks led a percent from 2.13 percent
broad slide in U.S. stocks late Monday.
Tuesday after a day of Investors also had their eye
mostly choppy trading. on the latest company
Phone and utilities compa- earnings and deal news.
nies were among the big Shares in Kohl’s gained 2.4
decliners after a sell-off in percent after the retailer
bonds sent yields sharply announced it has appoint-
higher. Banks bucked the ed Bruce Besanko as chief
broader market decline financial officer. Besanko
amid heightened expecta- had held the same role at
tions of rising interest rates. Supervalu. Kohl’s added 89
Oil prices rose for the fourth cents to $38.41.
straight day. In other commodities trad-
Late-afternoon devel- ing, wholesale gasoline
opments in Washington rose 2 cents to $1.46 per
helped put investors in a gallon. Heating oil also
selling mood. added 3 cents to $1.41 per
“The delay of the health Nuveen Sr. Vice President & Portfolio Manager Daniel Close, third left, is applauded as he rings gallon. Natural gas gained
the New York Stock Exchange opening bell, Tuesday, June 27, 2017.
care vote added to a little (AP Photo/Richard Drew) a penny to $3.04 per 1,000
bit of the uneasiness going cubic feet.
into the quarter end here,” noise can complicate the The Standard & Poor’s 500 The Nasdaq composite lost Gold inched up 50 cents to
said Sean Lynch, co-head chance of possible tax re- index fell 19.69 points, or 0.8 100.53 points, or 1.6 per- settle at $1,246.90 ounce.
of global equity strategy at form, health care reform percent, to 2,419.38. The cent, to 6,146.62. The Rus- Silver added 2 cents to
the Wells Fargo Investment and other policy measures Dow Jones industrial av- sell 2000 of small-company $16.59 per ounce. Copper
Institute. “It’s just worries that could boost the econ- erage slid 98.89 points, or stocks gave up 13.10 points, gained 2 cents to $2.65 per
that some of this political omy.” 0.5 percent, to 21,310.66. or 0.9 percent, to 1,403.54. pound.q

Amazon’s hiring binge to extend to Michigan with 1,600 jobs

By DAVID EGGERT construction is ongoing fulfillment center. Amazon plans in Michigan.” help Amazon partially off-
Associated Press and at least 1,000 people spokeswoman Shevaun The state memo said bene- set some “substantial” road
LANSING, Mich. (AP) — On- must work for Amazon to Brown declined to say fits will be offered to all the and other needed infra-
line retailer Amazon plans collect an entire $7.5 mil- when the two Michigan new employees. structure projects needed
to further extend its U.S. hir- lion incentive, will be based facilities will open or to di- In January, the Seattle- in Romulus, the new memo
ing binge into Michigan by about 12 miles away in the vulge what the new work- based company an- said.
spending up to $140 mil- suburb of Livonia. ers will be paid. nounced plans to hire Sen. Hoon-Yung Hopgood,
lion and adding 1,600 full- Amazon currently has 277 “Amazon is constantly in- 100,000 full-time workers a Taylor Democrat whose
time jobs at a new facility employees in the state, vestigating new locations over the next 18 months, district includes the site of
outside Detroit after being according to a memo to support the growth and bringing its U.S. workforce the newly announced fa-
awarded a $5 million state prepared by the Michi- increase the flexibility of its to more than 280,000. cility, said the state’s “small
incentive on Tuesday. gan Economic Develop- North American network to Amazon has more than 75 investment now will lead
The facility will be located ment Corp., which said the address customers’ needs,” fulfillment centers in North to greater investments in
in Romulus, home to metro company also considered she said. America and at least 149 the future, which helps our
Detroit’s airport. other Midwestern states “Amazon is not yet com- worldwide, Brown said. state prosper in the long
The other center, where and Canada for the latest menting on any specific The $5 million grant will run.”q

Darden CEO: Millennials enjoy chains like Olive Garden

NEW YORK (AP) — Millen- says they still want to go to rants,” Gene Lee, chief ex- than-expected quarterly
nials may be shunning sit-down chains like Olive ecutive of Olive Garden’s profit, with higher sales at
some habits beloved by Garden. parent company Darden Olive Garden.
past generations, but one “Believe it or not, millennials Restaurants, said Tuesday, That’s even though the
restaurant company CEO still want to come to restau- based on what he said was casual dining sector has
the company’s research. struggled heavily in recent
“I know you don’t think mil- years amid the proliferation
lennials go to casual dining of “fast casual” places, or
restaurants, but 30 percent those that market restau-
of all of our guests are mil- rant-quality at prices closer
lennials versus 24 percent to fast food.
of the population,” Lee For the quarter ended May
told Wall Street analysts. 28, Darden said Olive Gar-
He said that the company’s den’s sales rose 4.4 percent
flagship Olive Garden and at established locations.
its recently acquired Ched- Its other chains including
dar’s chain both “over in- LongHorn Steakhouse and
dex” with millennials. The Capital Grille also saw
Darden reported a better- increases.q