Page 25 - ARUBA TODAY

BUSINESS Saturday 5 May 2018
A25

U.S. stocks climb; Apple surges after Buffett buys more stock

By MARLEY JAY dex of smaller-company cent to $69.67. The stock
AP Markets Writer stocks gained 11 points, or dipped Thursday afternoon
NEW YORK (AP) — U.S. 0.8 percent, to 1,558. after Activision's results
stocks are rising Friday as POLISHED: Apple rose 3.3 were released early. Burger
Apple nears an all-time percent to $182.75 after chain Shake Shack surged
high and leads a rally for Warren Buffett told CNBC 22 percent to $58.04 while
technology companies. his company bought an- music streaming company
Retailers and most other other 75 million shares in the Pandora Media advanced
groups of stocks are also tech giant, giving it more 22.3 percent to $7.04 and
higher. A slightly disap- than 240 million shares al- Weight Watchers rose 6.5
pointing April jobs report together. Buffett told CNBC percent to $74.27.
didn't have much effect on about the purchase ahead JOBS: U.S. employers
the market. Trade talks be- of Berkshire Hathaway's an- stepped up hiring mod-
tween the U.S. and China nual meeting this weekend. estly in April, and the hiring
ended without a deal, but Apple has climbed 12.5 estimate from March was
that wasn't a big surprise to percent this week after the revised higher. That's evi-
Wall Street. company reported solid re- dent the economy remains
Apple rose after billionaire sults at the start of the year resilient even though some
investor Warren Buffett said and investors were pleased businesses are concerned
his Berkshire Hathaway with its forecast of solid about a possible trade war.
company bought more of iPhone sales, which came While many employers say
its stock. as a relief to investors. It it's difficult to find qualified
KEEPING SCORE: The S&P also raised its dividend and workers, they have yet to
500 index climbed 19 points, announced a big stock re- significantly boost pay in
or 0.7 percent, to 2,649 at purchase. most industries. Average
11:15 a.m. Eastern time. The Elsewhere in the technol- hourly earnings rose 2.6 Trader Craig Spector, center, works on the floor of the New
York Stock Exchange, Friday, May 4, 2018. U.S. stocks are little
Dow Jones industrial aver- ogy industry, Microsoft percent from a year ago, changed Friday morning following a slightly disappointing jobs
age rose 210 points, or 0.9 gained 1 percent to $94.98. which was also roughly report for the month of April.
percent, to 24,140. The Nas- Strong earnings reported equal to analyst estimates.
daq composite jumped 83 helped other companies. TRADE TALKS: The Trump with the U.S. by $200 bil- because a gas-fired power
points, or 1.2 percent, to Video game maker Activi- administration asked China lion by the end of 2020, project suffered "continued
7,171. The Russell 2000 in- sion Blizzard gained 4.3 per- to reduce its trade deficit striking an assertive stance challenges." The company
in talks aimed at averting took an unexpected loss
BMW earnings push higher a trade war between the in the first quarter and now
world's largest economies. expects a profit of $2.10
It also wants China to im-
to $2.50 per share for the
on sales of 5-Series, X1 SUV mediately stop providing year, down from $3.10 to
subsidies to certain indus-
$3.50 per share. The stock
tries listed in a key industrial dropped 21.1 percent to
plan and end some of its $46.53.
By DAVID McHUGH policies related to technol- BONDS: Bond prices rose
AP Business Writer ogy transfers, a key source early, but later gave up
FRANKFURT, Germany (AP) of tension underlying the that gain. The yield on the
— German automaker dispute. While the trade 10-year Treasury note re-
BMW AG saw first-quarter tensions have rattled inves- mained at 2.95 percent.
net profit rise slightly from tors, many market watch- That helped banks recover
an already high level as ers think the two sides will from an early loss. Lower
sales strengthened across eventually come to a deal bond yields mean lower
all regions and the compa- that doesn't disrupt trade rates for mortgages and
ny's 5-Series sedan and X1 much. other types of loans, which
sport-utility logged double- NEWELL RENEWAL: Newell reduces profits for banks.
digit increases. Brands agreed to sell its dis- OIL: Benchmark U.S. crude
Net profit rose 1.2 percent posable cups and cutlery rose 0.9 percent to $69.04
to a record 2.301 billion business to Novolex Hold- per barrel in New York.
euros ($2.757 billion), from ings for $2.2 billion after Brent crude, the interna-
2.274 billion euros in the In this Wednesday, March 21, 2018 photo the logo of German taxes, and its stock rose 3.8 tional standard, gained 0.4
same quarter a year ago. car manufacturer BMW is pictured at the headquarters in Mu- percent to $27.70. Newell's percent to $73.93 per bar-
Revenues for the Munich- nich, Germany. products include Sharpie rel in London.
based automaker fell 5 markers, Calphalon cook- CURRENCIES: The dollar fell
percent to 22.7 billion eu- and electric vehicles. CEO ed around 1,000 people in ware and Rubbermaid. It's to 109.15 yen from 109.73
ros, mostly due to shifting Harald Krueger said in a related fields such as artifi- trying to simplify its business yen. The euro fell to $1.1930
currency exchange rates. statement Friday that "we cial intelligence, machine after it bought consumer from $1.1993.
The company increased are combining tomorrow's learning and data analysis. products company Jarden OVERSEAS: Britain's FTSE 100
its profit margin based on mobility with sustainable Sales rose across the com- for about $13 billion two rose 0.8 and so did the DAX
earnings before interest profitability." In April the pany's three main regions: years ago, but since then in Germany. France's CAC
and taxes, a key earnings company opened its cam- Asia, North America and it's fallen short on sales pro- 40 rose less than 0.1 per-
metric, to 9.7 percent from pus for autonomous driving Europe. jections and lost billions in cent. The South Korean Kos-
9.4 percent. outside Munich where it Sales of the 5-Series rose market value. pi sank 1 percent and Hong
BMW is counting on contin- plans to develop the tech- 13 percent to 94,733, while UNDERPOWERED: Engineer- Kong's Hang Seng index
ued strong profits to fund nology required for both sales of the X1 small SUV ing and construction com- lost 1.3 percent. Markets in
investment in new technol- highly and fully automated jumped 17 percent to pany Fluor plunged after Japan remained closed for
ogies such as autonomous driving. It said it has recruit- 77,296.q it slashed its profit forecast a public holiday.q