Page 24 - ARUBA TODAY

Tuesday 18 July 2017 BUSINESS
A24

US stocks wind up mixed as retailers rise, health care dips

By MARLEY JAY spending package, which
AP Markets Writer would strengthen the U.S.
NEW YORK (AP) — U.S. stocks economy. Meanwhile
hardly budged Monday economies in Europe are
as smaller firms and retail- doing better and interest
ers rose while health care rates there are rising, which
companies and banks de- makes European curren-
clined. Chemical and min- cies stronger. The dollar
ing companies rose as the rose to 112.66 yen from
dollar weakened. Precious 112.56 yen. The euro rose to
metals rose as the dollar, al- $1.1480 from $1.1467. The
ready at its lowest levels in ICE U.S. Dollar Index is at its
almost a year, weakened lowest level since early Sep-
a bit further. Bond yields tember. Gold rose $6.20 to
slipped, sending banks low- $1,233.70 an ounce. Silver
er and high-dividend stocks gained 17 cents, or 1 per-
like utilities and household cent, to $16.10 an ounce.
goods companies higher. Copper rose 3 cents, or 1.2
With indexes at or near re- percent, to $2.72 a pound.
cord highs and another Investment firm BlackRock
round of corporate earn- dipped after it reported
ings reports just beginning, weaker-than-expected re-
investors didn’t make many sults in the second quarter.
big moves and stocks wob- Trader Peter Tuchman works on the floor of the New York Stock Exchange, Monday, July 17, 2017. The company’s earnings
bled between small gains U.S. stocks hardly budged Monday as smaller firms and retailers rose while health care companies and revenue fell short of
and losses all day. and banks declined. Wall Street forecasts, and
Investors expect another (AP Photo/Richard Drew) its stock declined $13.71, or
solid round of corporate with improving fundamen- average shed 8.02 points most 4 percent in the last 3.1 percent, to $425.63.
earnings, and they think tals and a central bank to 21,629.72. The Nasdaq seven days, and it’s recov- After the end of regu-
the Federal Reserve will be with its foot that was only composite gained 1.97 ered almost all of the losses lar trading, Netflix said it
more cautious about rais- weakly on the gas coming points to 6,314.43. The Rus- it sustained when technol- picked up 5.2 million sub-
ing interest rates because off the gas,” said Katie Nix- sell 2000 index of smaller- ogy companies went into a scribers in the second quar-
of some weak economic on, chief investment officer company stocks rose 2.79 slump in early June. ter. That was its biggest
data, including Friday’s re- for Wealth Management points, or 0.2 percent, to The dollar has been declin- gain ever in what’s usu-
port on retail sales. at Northern Trust. The Stan- 1,431.60. The S&P 500, Dow ing this year as investors ally a slow period, and the
“The fundamental picture dard & Poor’s 500 index and Russell 2000 all closed have concluded the fed- streaming video compa-
for investors seems to be lost 0.13 points to 2,459.14. at record highs Friday. eral government isn’t close ny’s stock jumped 11 per-
sort of strangely perfect, The Dow Jones industrial The Nasdaq has rallied al- to any kind of infrastructure cent aftermarket.q

Trian’s Peltz seeks a seat on

board at Procter & Gamble

NEW YORK (AP) — ute little to its operating
Activist investor Nelson profit.
Peltz is attempting to se- But that has hurt sales,
cure a seat on the board at which have declined over
Procter & Gamble, seeking the past three years, and
faster changes at the con- the company’s share price.
sumer products company. Shares of P&G are up less
Peltz’s Trian Fund Manage- than 4 percent this year.
ment LP, which owns about Rival Johnson & Johnson’s
$3.3 billion worth of Procter stock is up 15 percent in
& Gamble Co. shares, said the same period, Colgate-
Monday that Procter & Palmolive Co. is up 11 per-
Gamble’s financial per- cent and Kimberly-Clark
formance over the last 10 Corp. is up 9 percent.
years has been disappoint- Trian said that it’s not look-
ing. ing to break up P&G, re-
David Taylor was named place Taylor or remove
CEO of the company two other board members.
years ago and P&G under P&G said in a statement
his lead has attempted to that it’s maintained an ac-
transform itself, focusing tive dialogue with Trian, but
on its bigger brands with that it’s sticking with its cur-
growth potential. rent strategy.
The Cincinnati-based com- Trian hasn’t provided any
pany has already shed “new or actionable ideas”
some of the smaller brands that will help create more
it says collectively contrib- shareholder value, it said.q