Page 25 - ARUBA TODAY

BUSINESS Saturday 10 February 2018
A25

US stocks swing back to gains, Dow up 330 on turbulent day

tors sent prices climbing, on Jan. 26, according to
then slumping in unsteady S&P Dow Jones Indices.
trading a day after the "Equities have traded in
market entered its first cor- a roller coaster fashion all
rection in two years. week and today is no ex-
The up-and-down swings ception," said Terry Sand-
followed a drop of 10 per- ven, chief equity strategist
cent from the latest record at U.S. Bank Wealth Man-
highs set by major U.S. in- agement. "There's a fair
dexes just two weeks ago. amount of volatility in the
At midday, the market was market, and our belief is the
on pace for its worst week- volatility is leaving inves-
ly decline since October tors riddled with stress and
2008, at the height of the uncertainty, which is likely
financial crisis. to continue." The S&P 500
The Dow briefly sank 500 rose 38.55 points, or 1.5 per-
points in afternoon trading cent, to 2,619.55. The Dow
after surging more than 349 gained 330.44 points, or 1.4
points earlier in the day. The percent, to 24,190.90. The
blue chip average suffered Nasdaq composite added
its second 1,000-point drop 97.33 points, or 1.4 percent,
in a week on Thursday. to 6,874.49. Bond prices
Trader Gregory Rowe, center, works on the floor of the New York Stock Exchange, Friday, Feb. 9,
2018. Wall Street capped a day of wild swings Friday with a late-afternoon rally that reversed steep The Standard & Poor's 500 fell. The yield on the 10-
early losses and sent the Dow Jones industrial average 330 points higher. index, the benchmark for year Treasury rose to 2.85
(AP Photo/Richard Drew) many index funds, also wa- percent from 2.83 percent
vered between gains and late Thursday. Some com-
By ALEX VEIGA reversed steep early losses week for the market in losses. As of Thursday, some panies rose after reporting
AP Business Writer and sent the Dow Jones in- about two years. $2.49 trillion in value had quarterly results and out-
Wall Street capped a day dustrial average 330 points Stocks struggled to stabilize vanished from the index looks that beat Wall Street’s
of wild swings Friday with higher. Even with the re- much of the day as inves- since its most recent peak forecasts. q
a late-afternoon rally that bound, this was the worst
Shipping shakeup? Amazon

could deliver own packages

By DAVID KOENIG business for some time,
JOSEPH PISANI would not confirm the re-
Associated Press port — but didn't deny it
Amazon has already shown either.
that it can rattle the retail, "We're always innovating
grocery and health insur- and experimenting on be-
ance industries, and now half of customers and the
it is doing the same in the businesses that sell and
delivery business. grow on Amazon to cre-
The online retailer is report- ate faster lower-cost deliv-
edly planning a new ser- ery choices," said Amazon
vice to pick up packages spokeswoman Kristen Kish.
from businesses and deliver Shares of delivery giants
them to consumers. UPS and FedEx slipped Fri-
The service, called "Ship- day, but so did Amazon
ping With Amazon," is ex- stock as analysts expressed
pected to start in Los An- caution about the difficulty
geles in the coming weeks of building a competitive
and roll out more broadly delivery network.
as soon as this year, ac- Amazon's interest in the
cording to The Wall Street delivery business has been
Journal , which cited anon- percolating ever since
ymous sources. many Amazon packages
Amazon, which has been were delivered late around
edging into the delivery Christmas in 2013.q