Page 25 - ARUBA TODAY

BUSINESS Wednesday 24 January 2018
A25

Tech and consumer-focused companies rise; Netflix leaps

said the tariffs will make The Nasdaq composite
production more expen- jumped 52.26 points, or 0.7
sive for U.S. companies, percent, to 7,460.29. The
but they weren't as harsh Russell 2000 index of small-
as they could have been. er-company stocks rose
Companies that do their 5.54 points, or 0.3 percent,
manufacturing overseas to 1,610.71.
finished lower and some of Netflix said it picked up
the U.S. companies gave 8.3 million subscribers in
up their gains before trad- the fourth quarter, a much
ing ended. stronger result than the
"You could probably argue company and analysts
that this particular tariff is had expected. The stream-
the first implementation of ing video company's stock
the protectionist rhetoric soared $22.71, or 10 per-
than he ran on," said Randy cent, to $250.29.
Frederick, vice president Big technology companies
of trading & derivatives also rallied. Facebook rose
at Charles Schwab. That $3.98, or 2.1 percent, to
didn't worry investors much, $189.35 and Google's par-
but Frederick said stocks ent company Alphabet
might decline if there are gained $12.01, or 1 per-
Trader Frank O'Connell works on the floor of the New York Stock Exchange. Technology and con- signs other countries are re- cent, to $1,176.17. Online
sumer-focused companies led U.S. stocks to more records Tuesday. taliating or that the admin- retailer Amazon climbed
(AP Photo/Richard Drew)
istration is preparing to take $35.23, or 2.7 percent, to
NEW YORK (AP) — Tech- fell after the Bank of Japan Johnson & Johnson and more aggressive steps. $1,362.54.
nology and consumer- said it isn't cutting back its Procter & Gamble gave The Standard & Poor's 500 The tariff on imported solar-
focused companies led stimulus programs. Yields disappointing quarterly re- index added 6.16 points, energy components will
U.S. stocks to more records had reached long-time ports. or 0.2 percent, to 2,839.13. start at 30 percent and it's
Tuesday. Netflix, at the cen- highs, and the decline U.S. solar power companies The Dow Jones industrial aimed at cheaper imports
ter of both groups, soared helped high-dividend com- spiked after President Don- average fell 3.79 points to places like South Korea
after saying it gained more panies like utilities and real ald Trump approved tariffs 26,210.81. The 30-stock in- and China.
than 8 million subscribers at estate investment trusts. on imported solar-energy dex was pulled lower by The latter country called
the end of 2017. Health care and household components. Some inves- Johnson & Johnson and the measures an abuse of
Bond prices rose and yields goods companies fell after tors were relieved: analysts Procter & Gamble's losses. trade remedies.q
JPMorgan hiring, opening more branches

NEW YORK (AP) — JPMor- markets. The branch ex- digital-only banking and
gan announced Tuesday pansion will take place over rarely step foot inside a
that it will boost wages, the next five years in up to branch. Even JPMorgan
open new branches and 20 new markets, the com- has closed or consolidated
hire thousands of new work- pany said. A bank add- branches since the finan-
ers, citing improved eco- ing branches is somewhat cial crisis. “We are excited
nomic performance and notable. Most banks have about further investing in
sweeping changes to the been closing or consolidat- our outstanding workforce
U.S. tax code. Wages will ing branches, as more of and expanding into new
rise to between $15 and $18 their customers migrate to U.S. markets.” q
an hour from a range of $12
to $16.50 an hour, impact-
ing 22,000 employees, the
bank said. Chase will also
open 400 new branches
and hire 4,000 people in its
new U.S. markets, housing
and small business divisions.
Loans to customers seeking
"affordable" homes will rise
by 25 percent to $50 billion
and the bank will boost phi-
lanthropy by 40 percent, to
$1.75 billion over the next
five years. While JPMorgan
Chase is the nation's larg-
est bank by deposits and
assets, its branch network
is only found in 23 states
and it does not serve large
markets such as Washing-
ton, D.C. or Boston. A major
branch expansion will likely
include going into these