Page 25 - ARUBA TODAY

BUSINESS Wednesday 14 June 2017
A25

US stocks bounce back to records as tech companies rise

By MARLEY JAY have done much better
AP Markets Writer than the rest of the market
NEW YORK (AP) — U.S. in 2017. Big tech compa-
stocks bounced back to nies like Apple and Alpha-
record highs Tuesday as bet have been responsible
investors put an end to a for a huge portion of the
two-day drop for technol- stock market’s gains this
ogy companies. Energy year.
and consumer-focused Amazon helped retailers
companies also made out- trade higher. The online
size gains. giant picked up $15.88, or
In a reversal from the two 1.6 percent, to $980.79 and
previous days, investors Best Buy rose $1.07, or 1.9
put money into compa- percent, to $57.85. Home
nies that stand to ben- Depot climbed $1.25, or
efit from faster economic 1.2 percent, to $153.99.
growth, including retailers, Among materials com-
makers of basic materials panies, Dow Chemical
like paints and chemicals, jumped $1.25, or 2 per-
energy companies and cent, to $65.26 and Sher-
banks. Big-dividend com- win-Williams gained $5.31,
panies, which are usually or 1.5 percent, to $353.25.
considered safer invest- Trader Dennis Maguire, right, works on the floor of the New York Stock Exchange, Tuesday, June Energy companies joined
ments, did not do as well 13, 2017. U.S. stocks bounced back to record highs Tuesday as investors put an end to a two-day the gains as the price of
as the rest of the market. drop for technology companies. oil reversed an early loss.
Tech companies reversed (AP Photo/Richard Drew) U.S. crude futures added
their losses from Monday, Wells Fargo Investment In- 21,328.47. Technology companies 38 cents to settle at $46.46
although they remain well stitute. Rehling said he be- The Nasdaq composite, led the way once again. a barrel in New York. Brent
below their peak from last lieves tech stocks are a bit which has a large concen- Facebook rose $2.24, or 1.5 crude, used to price inter-
week. too high, but not by a huge tration of technology com- percent, to $150.68 while national oils, picked up 43
“There’s no question that amount. panies, rose 44.90 points, or Microsoft gained 87 cents, cents to $48.72 a barrel in
the rally in that sector can The Standard & Poor’s 0.7 percent, to 6,220.37, but or 1.2 percent, to $70.65. London.
continue as long as inves- 500 index picked up 10.96 did not get back to its re- Hard drive maker Western Among energy stocks, Hal-
tors’ sentiment remains points, or 0.5 percent, to cord highs. The Russell 2000 Digital added $3.41, or 3.9 liburton climbed 92 cents,
positive,” said Brian Re- 2,440.35. The Dow Jones in- index of smaller-company percent, to $90.05. or 2 percent, to $45.84 and
hling, co-head of global dustrial average rose 92.80 stocks added 6.77 points, Even after their recent skid, oil refiner Tesoro rose $3.03,
fixed income strategy at points, or 0.4 percent, to or 0.5 percent, to 1,425.98. technology companies or 3.3 percent, to $94.22.q
Uber CEO to take leave; report recommends broad changes

By TOM KRISHER The Holder report makes retaliation, and ensure that
BARBARA ORTUTAY it clear that Uber was not codes of conduct apply to
AP Business Writers doing enough to protect offsite events and confer-
SAN FRANCISCO (AP) — workers from sexual harass- ences.
Uber CEO Travis Kalanick ment and retaliation, not- The report also says Uber
will take a leave of ab- ing that company policies should use performance
sence for an unspecified need to state directly that reviews to hold senior man-
period and let his leader- such conduct is prohibited. agers accountable by set-
ship team run the troubled In addition, Uber must re- ting metrics for improving
ride-hailing company while quire that managers im- diversity and responsive-
he’s gone. mediately report discrimi- ness to employee com-
Kalanick told employees nation, harassment or plaints. q
of his decision in a memo
Tuesday, just as Uber re-
leased a report from for-
mer U.S. Attorney Eric Hold-
er with recommendations In this February, 2017 photo, Uber CEO Travis Kalanick arrives
on how to correct a work- at the Vanity Fair Oscar Party in Beverly Hills, Calif. Kalanick will
place that lacks diversity take a leave of absence for an unspecified period and let his
and tolerates sexual ha- leadership team run the troubled ride-hailing company while
rassment, bullying and re- he’s gone. Kalanick told employees about his decision Tues-
taliation against those who day, June 13, 2017, in a memo.
(Photo by Evan Agostini/Invision/AP)
reported problems.
Holder’s firm, Covington
& Burling LLP was hired to she spent at Uber, writing performer,” she wrote.
examine Uber’s workplace that she was propositioned Holder’s investigators con-
culture after a former em- by her manager on her first ducted more than 200 in-
ployee leveled charges of day with an engineering terviews with current and
sexual harassment. team. She reported him to former employees, includ-
Former engineer Susan human resources, but was ing people who had knowl-
Fowler posted a blog in told he would get a lecture edge of Fowler’s allega-
February that detailed ha- and no further punishment tions, according to the law
rassment during the year because he was a “high firm’s recommendations .