Page 24 - aruba-today-20170620

Tuesday 20 June 2017 BUSINESS
A24

With tech giants back in charge, stocks hit records again

1.7 percent, to $975.22. Al- tive. Plus, profit growth is
together, tech stocks in the improving for companies,
S&P 500 rose 1.7 percent, which helps to justify their
the largest gain among the stock price gains. The big-
11 sectors that make up gest gainer in the S&P 500
the index. It’s just the latest Monday was PerkinElmer,
example of investors steel- which sells testing equip-
ing themselves and “buy- ment and scientific instru-
ing the dip.” Every time the ments. It jumped $4.16, or
stock market has shown 6.5 percent, to $67.73 after
any weakness in the last it agreed to buy EUROIM-
eight years, it’s proven to MUN Medical Laboratory
be a good move for inves- Diagnostics of Germany
tors to buy. That’s because for $1.3 billion in cash. On
stocks have ended up eras- the other end was ener-
ing any losses incurred, only gy company EQT, which
to move higher. That long fell $5.26, or 9 percent, to
track record has trained $53.51 for the largest loss in
investors to pounce when- the index. It agreed to buy
ever they see a dip, and Rice Energy for $6.7 billion
analysts have noticed how in cash and stock in a deal
ingrained the instinct has that EQT said will make it
become. “It’s concerning, the country’s largest pro-
Traders William McInerney, left, and Mark Muller, right, confer on the floor of the New York Stock but I don’t see what breaks ducer of natural gas. Rice
Exchange. Apple and other big-name technology stocks got back to their winning ways Monday it at this point of time,” said surged $4.88, or 24.8 per-
and helped drive U.S. indexes once again to record heights. Nate Thooft, senior portfolio cent, to $24.57.
(AP Photo/Richard Drew)
manager at Manulife Asset In overseas markets, Eu-
By STAN CHOE a percent. The Dow Jones sharply two Fridays ago on Management. “It’s going ropean shares rose after
AP Business Writer industrial average added worries that they had risen to be really, really hard to French voters gave their
NEW YORK (AP) — Apple 144.71 points, or 0.7 per- too much, too quickly. In predict what that circum- new president a political
and other big-name tech- cent, to 21,528.99, and the a little more than a week, stance is. For the time be- majority in parliament. The
nology stocks got back to Nasdaq composite jumped tech stocks lost about a fifth ing, investors are thinking, vote “will lend him enough
their winning ways Mon- 87.25, or 1.4 percent, to of their year-to-date gains. ‘We can’t afford not to be support to rapidly imple-
day and helped drive U.S. 6,239.01. On Monday, Apple rose in this market, and we’ll ment his pro-business re-
indexes once again to re- Tech heavyweights, which for just the second time continue to play along with form program,” said Mar-
cord heights. had been among the stock since two Thursdays ago. the dynamics of the gradu- ion Amiot, senior econo-
The Standard & Poor’s 500 market’s biggest stars until It jumped $4.07, or 2.9 per- al melt-up.’” mist at Oxford Economics.
index rose 20.31 points, or recently, led the way. Af- cent, to $146.34 for its sec- Thooft expects stocks She raised her forecast for
0.8 percent, to 2,453.46 and ter being up more than 20 ond-best day of the year to continue rising, even French economic growth
surpassed its old record, set percent for the year, tech so far. Google’s parent, with prices high, because for 2018 to 1.7 percent from
nearly a week ago, by half stocks in the S&P 500 fell Alphabet, rose $16.60, or bonds look less attrac- 1.6 percent.q
AP Interview: Qatar Airways CEO warns of ‘lasting wound’

“People will not forget,” ade is lifted soonest and
Akbar Al Baker told The that life in our region comes
Associated Press on the backs to normal, especially
sidelines of the Paris Air since he knows that we are
Show. “People will have part of his alliance against
long, long memories and terrorism and that we are a
especially the way it has major player in his strategy
been done, where families in the region.”
are split, where children He called the blockade il-
have been removed from legal and said customers
school, when ... loved ones are returning to Qatar Air-
have been taken away ways and again using Qa-
from their husbands and tar as an aviation hub after
their wives. I think this gen- an initial hit to business.
eration, this entire genera- “The impact has not been
tion, will never forget what what our neighbors expect-
happened.” ed it to be,” Al Baker said at
Saudi Arabia, the United the Paris show, where Qa-
Arab Emirates and Bah- tar Airways unveiled luxuri-
rain cut ties with Qatar this ous new seating in business
A Qatar Airways Boeing 787 airplane is shown during a delivery ceremony in Everett, Wash. The month and blocked air, sea class.
CEO of Qatar Airways said Monday that the blockade imposed on his country by Gulf neighbors and land traffic with Qatar “They don’t want Qatar
“will leave a lasting wound” and that he expects rapid U.S. diplomatic intervention to resolve the over its support for Islamist to have an independent
standoff. groups and ties with Iran. foreign policy. They want
(AP Photo/Ted S. Warren) Al Baker said he expects Qatar to be subservient
PARIS (AP) — The CEO of posed on his country by he expects rapid U.S. dip- U.S. President Donald to their policies and this is
Qatar Airways said Mon- Gulf neighbors “will leave lomatic intervention to re- Trump will intervene “to not going to happen,” he
day that the blockade im- a lasting wound” and that solve the standoff. make sure that this block- added.q