Page 25 - ARUBA TODAY

BUSINESS Wednesday 27 June 2018
A25

US stocks move higher as tech companies regain some ground

By MARLEY JAY LONG WAIT: Tuesday marks
Associated Press five months since the S&P
NEW YORK (AP) — U.S. 500 and the Dow last closed
stocks are higher Tuesday at record highs. Over the
as energy companies rise following two weeks the
with oil prices and tech- indexes dropped 10 per-
nology and industrial com- cent as investors reacted
panies bounce back from to signs of rising inflation
sharp losses the day before. and adjusted to the end of
General Electric is jumping a historically calm period in
after it said it will shed its the financial markets. While
health care business and its inflation remains in check
majority stake in oil services five months later, multina-
company Baker Hughes tional companies like those
over the next few years. in the S&P 500 and Dow
Banks and other financial have also been hit by rising
companies are down. trade tensions between the
KEEPING SCORE: The S&P U.S. and other countries, as
500 index gained 10 points, well as data showing that
or 0.4 percent, to 2,727 as the economies of Japan
of 1 p.m. Eastern time. It and Europe aren't growing
fell 1.4 percent Monday, its as quickly as they did last
worst loss since early April. year.
The Dow Jones Industrial The logo for Harley-Davidson appears above a trading post on the floor of the New York Stock The S&P 500 is down 5 per-
Average gained 80 points, Exchange, Tuesday, June 26, 2018. cent from its Jan. 26 record
or 0.3 percent, to 24,333. Associated Press and the Dow has fallen al-
The Nasdaq composite most 9 percent.
added 47 points, or 0.6 oil imports from Iran before $1,696.77 and Netflix rose years including its railroad The Nasdaq, which has
percent, to 7,579 after it the grace period expires on 4.9 percent to $403.43 af- locomotive division, lend- a high concentration of
plunged 2.1 percent a day November 4, as the official ter they dropped Mon- ing unit, its appliance busi- technology companies,
ago. The Russell 2000 index says the U.S. doesn't intend day. Homebuilder Lennar nesses and its stake in NBC. and the smaller and more
picked up 11 points, or 0.7 to issue waivers. climbed 6.3 percent to Baker Hughes rose 1.7 per- domestically-focused Rus-
percent, to 1,669. Exxon Mobil jumped 1.2 $52.33 after a strong quar- cent to $32.99, helped by sell 2000, closed at record
ENERGY: Oil prices jumped percent to $80.73 and terly report, and its com- the move in oil prices. highs on Wednesday.
as the Trump administration Chevron picked up 1.1 per- petitors also climbed. An Tuesday was also the first CURRENCIES: The dollar
said it's pressuring allies to cent to $124.02. index of U.S. home prices day in 110 years that Gen- rose to 110 yen from 109.45
stop importing oil from Iran. TECH: Apple climbed 1.8 also rose in April as buy- eral Electric wasn't part of yen. The euro fell to $1.1658
If that happens, it would percent to $185.47 and Mi- ers paid higher prices for a the Dow Jones Industrial from $1.1704.
reduce supplies, and other crosoft gained 1.5 percent small supply of houses. Average. OVERSEAS: Germany's DAX
countries would have to to $99.87 while Cisco Sys- ELECTRIFIED: GE jumped BONDS: Bond prices were lost 0.3 percent and the
pick up the slack. Bench- tems added 1.6 percent to 8.4 percent to $13.82 after little changed. The yield on French CAC 40 fell less than
mark U.S. crude added 3.3 $42.96. Technology stocks the company said it will sell the 10-year Treasury note 0.1 percent. The FTSE 100 in
percent to $70.33 a barrel were hammered Monday its two-thirds stake in Baker remained at 2.88 percent. Britain jumped 0.6 percent.
in New York. Brent crude, as investors reacted to re- Hughes and also divest Banks continued to fall, as Japan's benchmark Nikkei
used to price international ports that the Trump admin- its health care business. lower interest rates reduce 225 index rose less than 0.1
oils, rose 2.1 percent to istration might bar technol- GE agreed to sell its gas- the profits they make on percent while South Korea's
$76.10 per barrel in London. ogy companies from selling engine business to Advent mortgages and other types Kospi lost 0.3 percent. Hong
President Donald Trump certain high-tech products International for $3.25 bil- of lending. Wells Fargo lost Kong's Hang Seng shed 0.3
withdrew the U.S. from the to China and other coun- lion on Monday. The com- 0.8 percent to $53.51 and percent.q
Iran nuclear deal in May, so tries and limit investment pany has sold numerous Fifth Third Bancorp slid 1.9
sanctions on Iran's energy in tech companies by Chi- major businesses in recent percent to $29.50.
sector will kick in again in nese firms. Stocks recov-
November. A senior State ered some of those losses
Department official says after a top U.S. trade advis-
U.S. officials are telling er rebutted those reports.
Asian and European gov- Consumer focused com-
ernments that they should panies also rose. Ama-
completely eliminate their zon jumped 2 percent to