Page 25 - ARUBA TODAY

BUSINESS Thursday 21 december 2017
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Stocks end mixed after bouncing around for much of the day

makers. index lost 2.22 points, or 0.1
Stocks have jumped over percent, to 2,679.25. The
the last four weeks as the Dow Jones industrial aver-
tax legislation moved age fell 28.10 points, or 0.1
closer to passing, but they percent, to 24,726.65. The
haven’t done much over Nasdaq composite slid 2.89
the last two days as Con- points, or less than 0.1 per-
gress voted on the bill. cent, to 6,960.96. The Rus-
Stocks set all-time highs sell 2000 index of smaller-
Monday and slipped on company stocks rose 3.33
Tuesday. points, or 0.2 percent, to
It’s been a very strong year 1,540.08.
for the market, and ordi- Investors have sent stocks
narily investors might sell higher in recent weeks as
some of their holdings in the tax bill’s prospects im-
late December and take proved. It would cut the
some profits before they corporate tax rate to 21
make new investments in percent from 35 percent,
January. But with a tax bill which could increase cor-
passing at the very end of porate profits. Other pro-
the year, TD Ameritrade visions are intended to
Chief Market Strategist JJ encourage companies to
Trader William McInerney works at the New York Stock Exchange. U.S. stocks bounced around Kinahan said that pattern invest more money in their
Wednesday and finished little changed after Congress passed the Republican-sponsored tax bill. might not hold. businesses.
(AP Photo/Mark Lennihan) “This could be a year where In a note earlier this week,
By MARLEY JAY The Senate narrowly the bill soon. you see the selling pressure after the bill was largely
AP Markets Writer passed the tax bill after Smaller companies at the beginning of the complete, Barclays analyst
NEW YORK (AP) — U.S. midnight and the House, climbed, as they might year because people are Maneesh Deshpande said
stocks bounced around which passed a similar bill benefit the most from the delaying their selling, wait- the bill will reduce the ef-
Wednesday and finished lit- Tuesday but had to go corporate tax cut. Bond ing for a better tax environ- fective tax rate for S&P 500
tle changed after Congress back and make changes, yields rose, which hurt ment,” he said. “There are companies to 20.7 percent
passed the Republican- followed suit in the after- companies that pay big always unintended conse- from 26 percent because
sponsored tax bill. Smaller noon. President Donald dividends, including utili- quences with tax plans.” of changes taxation for
companies fared the best. Trump is expected to sign ties and household goods The Standard & Poor’s 500 profits made overseas.q
US home sales climb 5.6 percent in November to 11-year high

By JOSH BOAK ally adjusted annual rate fallen to a 17-year low, for two-and-a-half years. at the real estate company
AP Economics Writer of 5.81 million units. Home while more people in the The shortage is a concern, Zillow. In November, there
WASHINGTON (AP) — sales were last this strong younger millennial genera- but not necessarily enough were 1.67 million proper-
Americans purchased in December 2006, when tion appear to be forming to derail the sales momen- ties for sale, a 9.7 percent
homes at the fastest pace properties sold at annual their own households and tum. “The housing market is decline from a year ago.
in nearly 11 years, as sales pace of 6.42 million. looking for places to buy. on relatively stable ground, There is only 3.4 months’
climbed 5.6 percent in No- The strong demand for Yet the demand has done despite the ongoing inven- supply of homes on the
vember. buying homes is a sign of little to resolve an increas- tory squeeze and difficult market, the lowest level
The National Association of an increasingly vibrant ing vulnerability of the U.S. conditions for buyers at the ever tracked by the Real-
Realtors said Wednesday economy after a steady, real estate market as the lower ends of the market in tors. The limited inventory
that sales of existing homes eight-year expansion. The number of listings has been particular,” said Aaron Ter- has caused home values
rose last month to a season- unemployment rate has declining on a yearly basis razas, a senior economist to rise faster than wages.q