Page 25 - ARUBA TODAY

BUSINESS Tuesday 5 June 2018
A25

Technology companies and retailers lead US stocks higher

By MARLEY JAY the American Society of
Associated Press Clinical Oncology. Nektar
NEW YORK (AP) — U.S. stocks Therapeutics plunged 42.5
are rising Monday as tech- percent to $51.91 after it
nology companies, retail- disclosed data from a po-
ers and household goods tential treatment for pan-
companies gain ground. creatic cancer. Analyst De-
Some of the world's largest bjit Chattopadhyay of H.C.
tech companies, including Wainwright said investors
Apple and Microsoft, are were concerned by mixed
leading the way and the results from the study and
Nasdaq composite is on a lack of information and a
track for an all-time high. lung cancer drug study.
Energy companies are fall- Nektar had made huge
ing as crude oil prices con- gains since early Novem-
tinue to decline. ber. Shares of its partner
KEEPING SCORE: The S&P Bristol-Myers Squibb lost 3.1
500 index climbed 10 points, percent to $51.51. Merck
or 0.4 percent, to 2,745 as gained 2.3 percent to
of 2:45 p.m. Eastern time. $61.98 after it reported en-
The index rose 1.1 percent couraging results from stud-
Friday after a strong jobs re- ies of lung cancer treat-
port, and hasn't made two ments.
consecutive gains since BONDS: Bond prices
mid-May. The Dow Jones dipped. The yield on the
industrial average rose 153 10-year Treasury note rose
points, or 0.6 percent, to to 2.93 percent from 2.90
24,789 behind gains from percent late Friday.
aerospace company Boe- METALS: Gold dipped 0.2
ing, retailers Walmart and In this May 17, 2018, file photo an American flag hangs above the bell podium on the floor of the percent to $1,297.30 an
Home Depot, and pay- New York Stock Exchange. ounce. Silver fell 0.1 per-
ment processor Visa. The Associated Press cent to $16.43 an ounce.
Nasdaq composite gained Copper gained 1.2 percent
42 points, or 0.6 percent, SUSTAINED GAINS?: Last FACEBOOK POKED: The mark U.S. crude dropped to $3.13 a pound.
to 7,596. The technology- week the S&P 500 alter- New York Times reported 1.6 percent to $64.75 a bar- CURRENCIES: The dollar
heavy index made its latest nated between big gains Sunday that Facebook rel in New York. Brent crude, rose to 109.73 yen from
record close on March 12. and losses as Wall Street struck data-sharing deals used to price international 109.51 yen. The euro rose to
The Russell 2000 index of reacted to political turmoil with at least 60 device mak- oils, fell 2 percent to $75.29 $1.1692 from $1.1662.
smaller-company stocks in Italy and rising trade ten- ers, including Apple and per barrel in London. OVERSEAS: Germany's
was on track to top the re- sions as the U.S. continued Amazon, as it tried to get Wholesale gasoline lost 1 DAX rose 0.4 percent and
cords it set last week as it to hold talks with Chinese its app onto smartphones, percent to $2.12 a gallon. France's CAC 40 added
rose 1 point to 1,648. officials and placed tariffs and that the device com- Heating oil slid 1.1 percent 0.2 percent. Britain's FTSE
LEADERS: Apple climbed on steel and aluminum im- panies were able to access to $2.15 a gallon. Natural 100 climbed 0.5 percent.
0.9 percent to $191.88 as ported from Europe, Mexi- users' friends without their gas fell 1.1 percent to $2.93 The benchmark Nikkei 225
it previewed new features co and Canada. explicit consent. That re- per 1,000 cubic feet. in Japan rose 1.4 percent
and software updates at Stocks have wobbled in the newed some investors' con- HEALTH CARE: Compa- and the South Korean Kospi
its Worldwide Develop- last few months as inves- cerns about Facebook's nies reported results from gained 0.4 percent. Hong
ers Conference in San tors worried that tariffs and handling of user data, and cancer drug studies at Kong's Hang Seng rallied
Jose, California. Alphabet, other barriers to trade will the stock lost 0.4 percent to the annual meeting of 1.7 percent.q
Google's parent compa- reduce economic growth $193.24.
ny, gained 1.5 percent to and corporate profits. Ime Archibong, vice presi-
$1,151.68 and chipmaker But Wall Street has mostly dent of product partner-
Advanced Micro Devic- treated the tough talk and ships, said in blog post that
es added 2.4 percent to proposed tariffs as a nego- Facebook has maintained
$14.75. tiating tactic. Invesco Chief tight control over the tech-
Microsoft rose 0.7 percent Global Market Strategist nology and that it is not
to $101.50 after the com- Kristina Hooper said the U.S. aware of any abuse by the
pany said it will pay $7.5 bil- crossed an important di- companies that it teamed
lion in stock to buy GitHub. viding line last week when, with.
Around 27 million software after months of talks, its alu- Facebook stock skidded af-
developers around the minum and steel import du- ter allegations a firm linked
world use GitHub to share ties went into effect. to the Trump campaign
code and build businesses. "Markets seem to treat it improperly harvested per-
Retailers also moved high- as if it's just rhetoric and it's sonal data from as many
er. Under Armour rose 5.5 just a bargaining tool, and as 87 million Facebook
percent to $22.53 and my view is that that is fool- accounts. Wall Street's
Target gained 5 percent hardy," she said. "We have concerns about the stock
to $76.46 while Walmart enough positive economic gradually faded and Face-
picked up 2.7 percent to data that it's easy enough book closed at an all-time
$85.20 after it agreed to sell to put blinders on when it high Friday.
an 80 percent stake in its comes to threats like pro- ENERGY: Energy compa-
struggling Brazilian business. tectionism." nies traded lower as bench-