Page 25 - ARUBA TODAY

BUSINESS Tuesday 19 June 2018
A25

US stocks are mixed after early skid; smaller companies rise

NEW YORK (AP) — U.S. little changed. The yield on
stocks are shaking off early the 10-year Treasury note
losses and are mixed Mon- remained at 2.92 percent.
day as gains for energy U.S.-CHINA TARIFFS: On
companies and smaller, Friday, President Donald
more U.S.-focused firms are Trump said the U.S. will put
balancing out losses for tariffs of up to 25 percent
household goods makers on some Chinese imports
and health care compa- starting in July. Those tariffs
nies. Energy companies are target industrial and agri-
rising with the price of oil. cultural machinery, aero-
Indexes in Europe and Asia space parts and communi-
are lower, and Volkswagen cations technology. China
is down after German au- said it will raise import du-
thorities detained the CEO ties on $34 billion worth of
of its Audi division as part American goods, includ-
of an investigation into the ing soybeans, electric cars
manipulation of emissions and whiskey. Also on Friday
controls. the Trump administration
KEEPING SCORE: The S&P launched an investiga-
500 index fell 8 points, or tion into whether tariffs are
0.3 percent, to 2,771 as of needed on automobiles
11:30 a.m. Eastern time. In this Jan. 2, 2018, file photo, a trader talks on his phone before the start of trading at the New imported to the U.S. as talks
Earlier it fell as much as 22 York Stock Exchange. with Canada and Mexico
points. The Dow Jones in- Associated Press over the North American
dustrial average dropped Trade Agreement stalled.
166 points, or 0.7 percent, AUDI CEO ARRESTED: Ger- lost 0.6 percent to $206.68. crude, used to price inter- CURRENCIES: The dollar fell
to 24,923. man authorities detained Rent-A-Center jumped 22 national oils, climbed 1.8 to 110.49 yen from 110.62
The Nasdaq composite lost the chief executive of Volk- percent to $14.68 after pri- percent to $74.76 a barrel yen late Friday. The euro
5 points, or 0.1 percent, to swagen's Audi division, Ru- vate equity firm Vintage in London. inched up to $1.1610 from
7,740. The Russell 2000 index pert Stadler, as part of a Capital Management Chevron gained 1.7 per- $1.1607.
fared better, as many in- probe into the manipula- agreed to buy it for $15 a cent to $126.17 and Cono- OVERSEAS: The DAX in Ger-
vestors feel the smaller and tion of emissions controls. share, or $800 million. Rent- coPhillips rose 3.3 percent many fell 1.5 percent and
more U.S.-focused compa- The move is an extension A-Center leases household to $67.54. the French CAC 40 lost 1.2
nies in that index are less of the emissions scandal goods on a rent-to-own BONDS: Bond prices were percent. q
vulnerable in the event that that has rocked Volkswa- basis and had received
a major trade dispute slows gen since 2015 and led to a lower bid from Vintage
growth in the global econ- billions in fines, the arrest of earlier this month. Cloth-
omy. The Russell gained 5 executives and the indict- ing company Perry Ellis lost
points, or 0.4 percent, to ment in the U.S. of its former 2.5 percent to $27.27 after
1,689 and is on track for an- CEO. Volkswagen stock fell founder George Felden-
other record high. 3.3 percent in Germany. kreis started buying more
Most of the companies list- DEALS: Chinese e-com- stock to take the company
ed on the New York Stock merce company JD.com private for $27.50 a share,
Exchange traded higher. added 1.7 percent to or $437 million.
LOSERS: Among health $44.33 after Google said ENERGY: Oil futures rose as
care companies, Johnson it will invest $550 million in investors wait for an OPEC
& Johnson lost 1.6 percent the company. Alphabet, meeting later this week.
to $120.70 and Boston Sci- Google's parent com- Benchmark U.S. crude add-
entific fell 3.3 percent to pany, rose 1.3 percent to ed 0.3 percent to $65.25 a
$31.88. Drug developer PTC $1,174.21. JD rival Alibaba barrel in New York. Brent
Therapeutics jumped 22.4
percent to $45.95 after it re-
ported positive results from
a study of a drug intended
to treat Type 1 Spinal Mus-
cular Atrophy, a genetic
disorder that affects infants.
However that sent shares
of Biogen sharply lower,
as PTC's drug could affect
sales of Biogen's Spinraza.
Biogen lost 5.7 percent to
$287.55, while its partner
Ionis Pharmaceuticals sank
8.3 percent to $42.70.
Consumer products com-
pany Procter & Gamble
gave up 2 percent to
$75.82 and Colgate-Palmo-
live declined 2.6 percent to
$63.03.