Page 25 - ARUBA TODAY

BUSINESS Wednesday 13 december 2017
A25

US stock indexes close mostly up; New highs for S&P 500, Dow

By ALEX VEIGA in talks to buy parts of 21st
AP Business Writer Century Fox. Comcast
Big-name companies added $1.07 to $39.51. The
notched gains on Wall Journal also reported that
Street Tuesday, delivering Disney is in talks with Fox
more records for two of the and that a deal could be
major stock indexes. announced this week. Fox
The Standard & Poor’s 500 shares gained 44 cents, or
index and the Dow Jones 1.3 percent, to $34.10.
industrial average finished Urban Outfitters rose after
at all-time highs for the sec- the retailer issued a positive
ond day this week, while a update on its fourth-quar-
slide in technology stocks ter sales. The stock added
pulled the Nasdaq lower. 11 cents, or 0.3 percent,
Small-company stocks also to $32.38. The latest quar-
lagged. terly snapshot from Casey’s
Banks and other financial General Stores put traders
stocks led the gainers as in a selling mood. The re-
the Federal Reserve met to tailer slumped 11.6 percent
discuss interest rates. The after its second-quarter
central bank is expected profit fell short of analysts’
to raise rates for the third estimates. The stock gave
time this year on Wednes- up $14.07 to $107.18.
day, which allows banks Trader John Doyle works on the floor of the New York Stock Exchange. Big-name companies Edison International fell 6
to charge more to lend notched gains on Wall Street Tuesday, delivering more records for two of the major stock indexes. percent after the utility said
money. (AP Photo/Richard Drew) it believes authorities are
Technology stocks de- of a one-off hike like we’ve short-term interest rate hike France’s Unibail-Rodamco looking into the possibility
clined the most. Energy had in the past, but a con- helped lift bank shares. for $15.7 billion. Macerich that wildfires in California
stocks also fell as crude oil tinuation of a quarterly ca- Goldman Sachs Group gained $3.18, or 5 percent, started at one of its facili-
prices closed lower. Bitcoin dence of rate hikes.” rose $7.55, or 3 percent, to to $66.47, while Simon Prop- ties. Edison shares slid $4.40
futures fell on their second Meanwhile, the European $257.68. erty Group rose $4.09, or 2.5 to $68.58.
day of trading. Central Bank and the Bank The latest batch of cor- percent, to $166.35. GGP Technology stocks, which
“It’s another day, another of England will have policy porate earnings, outlooks picked up 38 cents, or 1.6 have been the best per-
all-time high,” said Brian announcements on Thurs- and deal news also helped percent, to $23.77. forming sector this year with
Nick, chief investment day. Neither is expected to move markets Tuesday. Comcast rose 2.8 percent a gain of 37 percent, made
strategist at Nuveen Asset change rates, leaving the Several shopping mall own- after the Wall Street Jour- up a big portion of the lag-
Management. focus on their economic ers closed higher after Aus- nal reported that the ca- gards. Micron Technology
The S&P 500 index rose 4.12 forecasts. tralian company Westfield ble TV and entertainment slid $1.15, or 2.7 percent, to
points, or 0.2 percent, to The prospect of another agreed to be bought by company was no longer $41.86.q
2,664.11. The Dow gained
118.77 points, or 0.5 per-
daq lost 12.76 points, or 0.2 US wholesale prices up 0.4 percent in November
cent, to 24,504.80. The Nas-

percent, to 6,862.32. The
Russell 2000 index of small- By M. CRUTSINGER and food prices, rose 0.3 cent jump in August 2009. to keep inflation rising at
er-company stocks fell 3.72 AP Economics Writer percent in November and Food costs rose a modest a moderate 2 percent but
points, or 0.2 percent, to WASHINGTON (AP) — Pric- 2.4 percent for the past 0.3 percent after a bigger over the past six years, it
1,516.12. More stocks fell es at the wholesale level 12 months, a more benign 0.5 percent gain in Octo- has failed to reach that
than rose on the New York rose 0.4 percent in No- reading on inflation. ber. The government will goal.q
Stock Exchange. vember and 3.1 percent The November increase report on consumer prices
Even though inflation has over the past year. It was reflected a 4.6 percent Wednesday and econo-
remained low, the Fed has the biggest annual jump increase in energy costs, mists are looking for a 0.4
seen a path to gradually in nearly six years and re- the biggest since May 15. percent November in-
raise rates as the economy flected a big spike in the That increase was paced crease due to rising ener-
and labor market have price of gasoline and other by a 15.8 percent surge in gy prices at the retail and
strengthened. energy products. gasoline costs, the sharpest wholesale levels.
While the central bank is Last month’s increase in one-month gain in gasoline The Federal Reserve seeks
widely expected to an- the producer price index, prices since an 18.6 per- to manage interest rates
nounce a 0.25 percent in- which measures inflation
crease in short-term interest pressures before they reach
rates Wednesday, investors the consumer, marked the
will be listening for any hints third straight month that
that the Fed could pick up wholesale prices have ris-
its pace on rate hikes next en by 0.4 percent, the La-
year. bor Department reported
“There’s a chance at the Tuesday. The 3.1 percent
meeting tomorrow they’re rise from November 2016
going to be showing four was the biggest 12-month
rate hikes next year in their gain since a matching 3.1
forecast as opposed to percent increase for the 12
three, where it had been in months ending in January
September,” Nick said. “So 2012. Core inflation, which
this is seen as a not just sort excludes volatile energy