Page 25 - aruba-today-20170310
P. 25
BUSINESS A25
Friday 10 March 2017
Some anniversary: stocks barely move as bull market turns 8
MARLEY JAY how aggressive does the
Fed need to get,” he said.
AP Markets Writer Health care companies
made the biggest gains.
NEW YORK (AP) — U.S. The leaders included John-
son & Johnson, which rose
stocks meandered Thurs- $1.85, or 1.5 percent, to
$125.95. Cancer drug mak-
day as the eighth anni- er Celgene added $2.09,
or 1.7 percent, to $125.13
versary for the current bull while medical device
maker Edwards Lifescienc-
market turned out to be a es contributed $3.53, or 3.9
percent, to $93.06.
quiet one. Crude oil prices continued
to slip after the U.S. gov-
Large-company stocks fin- ernment reported a huge
buildup in fuel stockpiles
ished mostly higher, but Wednesday. Oil is now
trading at its lowest price
declines in smaller stocks since November, before
OPEC countries agreed to
across the board meant reduce production in an
effort to shore up prices.
that more companies fell Benchmark U.S. oil fell $1, or
2 percent, to $49.28 a bar-
than rose on the New York rel in New York. Brent crude,
the international standard,
Stock Exchange. lost 92 cents, or 1.7 per-
cent, to $52.19 a barrel in
The market started out with London. Energy compa-
nies lost ground early in the
small gains, then dipped in day but jumped in the final
hour of trading.q
the early afternoon. Thanks
to late gains for energy
companies, major indexes
turned higher near the end
of trading.
Industrial companies Trader Michael Conlon, center, works on the floor of the New York Stock Exchange. U.S. stocks
dipped as heavy ma- meandered Thursday as the eighth anniversary for the current bull market turned out to be a quiet
chinery maker Caterpillar one.
continues to slide. Health (AP Photo/Richard Drew)
care companies climbed small-company stocks lost hiring appears to be on the interest rates next week,
and banks rose along with 5.92 points, or 0.4 percent, rise. inflation remains low and
bond yields. Trading was to 1,360.12. More than two- “Bull markets typically he said the Fed’s actions
light following a three-day thirds of the stocks on the don’t die of old age,” said shouldn’t stifle economic
losing streak. NYSE ended lower. David Lefkowitz, senior eq- growth.
The Standard & Poor’s 500 The S&P 500 is up 250 per- uity strategist at UBS Wealth “The key question is how
index picked up 1.89 points, cent since March 9, 2009, Management Americas. quickly does inflation con-
or 0.1 percent, to 2,364.87 when it bottomed out in “They typically die be- tinue to rise from here and
Thursday. The Dow Jones the depths of the finan- cause there’s a downturn
industrial average gained cial crisis. The current bull in the economy.”
2.46 points to 20,858.19. run is the second-longest Lefkowitz said there are few
The Nasdaq composite since World War II and it signs that will happen any
rose 1.25 points to 5,838.81. may have a while to go, time soon. While the Fed-
The Russell 2000 index of as wages are growing and eral Reserve is likely to raise
RadioShack files for second bankruptcy in 2 years
FORT WORTH, Texas (AP) tions. But that didn’t help, returns on items bought
— RadioShack has filed either. CEO Dene Rogers from RadioShack.com. The
for Chapter 11 bankruptcy said Thursday that mobile company said that those
protection for the second phone sales were “surpris- holding a RadioShack gift
time in just over two years, ingly poor,” especially in card have until April 7 to
putting the future of the recent months. spend it at stores.q
nearly 100-year-old elec- RadioShack said it is in the
tronics retailer in doubt. process of closing 200 stores
Once known as the place and will evaluate its options
to buy batteries and ob- for the remaining 1,300. Of
scure electronic parts, Ra- those remaining locations,
dioShack has struggled to Sprint Corp. said it will turn
hang on to customers as “several hundred” of them
more people shop on Am- into Sprint-only stores, but
azon.com and other on- declined to give a spe-
line retailers. It redesigned cific number. RadioShack,
its stores about three years based in Fort Worth, Texas,
ago and stocked its shelves has nearly 5,900 employ-
with popular headphone ees, according to bank-
brands and the latest gad- ruptcy paperwork filed on
gets. But that didn’t attract Wednesday. The company
more shoppers, and the said it will try to “preserve
retailer filed for bankruptcy as many jobs as possible.”
protection in 2015. Its stores are open for busi-
After that, it tried to lure ness, but RadioShack said
smartphone-loving shop- that anything sold at them
pers by opening Sprint cannot be returned for a
wireless carrier shops within refund. Its website, howev-
1,200 RadioShack loca- er, will continue to accept
