Page 25 - ARUBA TODAY

BUSINESS Tuesday 12 december 2017
A25

US stocks close modestly higher; S&P 500, Dow hit new highs

By ALEX VEIGA Schwab. The S&P 500 index
AP Business Writer rose 8.49 points, or 0.3 per-
Technology companies led cent, to 2,659.99. The index
U.S. stocks modestly higher has risen on a weekly basis
Monday, driving the mar- the past three weeks. The
ket to another set of mile- Dow gained 56.87 points,
stones. or 0.2 percent, to 24,386.03.
The Standard & Poor’s 500 The Nasdaq composite
index and Dow Jones in- added 35 points, or 0.5 per-
dustrial average finished cent, to 6,875.08. The Rus-
at new highs. Both indexes sell 2000 index of smaller-
also hit record highs on Fri- company stocks slipped
day. 1.88 points, or 0.1 percent,
Solid gains by health care to 1,519.84.
companies also helped lift The Fed is scheduled to is-
the market, outweighing sue an interest rate policy
losses among banks and update on Wednesday.
industrial stocks. Energy Economists expect the
stocks rose along with the central bank to lift short-
price of crude oil. term rates by 0.25 percent.
Investors had their eye That would be the third in-
on bitcoin futures, which terest rate hike by the cen-
made their market debut. tral bank this year.
But traders were mostly While inflation has re- Traders Michael Smyth, left, and William Lawrence work on the floor of the New York Stock
looking ahead to the out- mained low, the central Exchange, Wednesday, Dec. 6, 2017. U.S. stocks held steady in Wednesday morning trading,
following sharp drops for markets around the world. Coming off its first three-day losing streak
come of Wednesday’s bank has seen a path to since the summer, the Standard & Poor’s 500 index flipped between small gains and losses in the
meeting of Federal Reserve gradually raise rates as the first half hour of trading.
policymakers. economy and labor mar- (AP Photo/Richard Drew)
“The market is kind of in a ket have strengthened. number of people being vember. The trend helped of inflation, to still go ahead
holding pattern, just sort of The Labor Department said hired increased. Last week, keep the unemployment and continue to hike rates,”
waiting for the Fed meet- Monday that U.S. employ- another report showed rate at 4.1 percent. Frederick said.
ing,” said Randy Frederick, ers posted slightly fewer job that employers added a “The Fed sees enough Technology companies
vice president of trading openings in October than net total of 244,000 jobs in strength in the overall accounted for much of the
& derivatives at Charles the previous month, but the October and 228,000 in No- economy, despite the lack market’s gains Monday.q

US job openings slip in October, but hiring increased

By JOSH BOAK that nearly 6 million jobs leveling off of openings in they’re still looking to add means that manufacturers,
AP Economics Writer were available at the end recent months suggest a staff. It also indicates that for example, added work-
WASHINGTON (AP) — U.S. of October, down from more moderate pace of employers shook off a slow- ers in October but they are
employers posted slightly 6.18 million in September. hiring ahead,” said Sarah down caused by hurricanes now seeking fewer workers
fewer job openings in Oc- Manufacturers, retailers, House, an economist with earlier this year. Leading in the future. For every job
tober than the previous wholesalers and the infor- the bank Wells Fargo. But sources of increased hir- opening, there is now the
month, but the number mation sector advertised total hires rose 4.4 percent ing came from restaurants equivalent of 1.1 unem-
of people being hired im- fewer jobs — an indicator to 5.55 million. This indicates and hotels, the health ployed jobseekers, the low-
proved. The Labor De- of their possible intentions that even if employers are care sector, manufacturers est ratio on record for data
partment said Monday in the coming months. “The seeking fewer workers that and financial services. This that go back to 2001..q