Page 25 - ARUBA TODAY

BUSINESS Thursday 12 OcTOber 2017
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Delta overcomes in 3Q, streak goes on for airlines this week

By DAVID KOENIG The hurricane’s impact was ter, which ended Sept. 30. broad rally in airline stocks. Fares were relatively flat,
AP Airlines Writer already known, however, U.S. airline stocks tumbled The leading airline stocks but extra fees for things like
DALLAS (AP) — The price so investors are more likely during July and August have regained most of checked bags helped Del-
of air travel is poised to rise to seize on Delta’s predic- over concern that overly their summer losses. ta rake in 1.9 percent more
again, with airlines seeing tion Wednesday that a rapid expansion and fare What is clear from all the money for each seat flown
beyond recent fare wars proxy for average prices wars — primarily between airline reports is that de- one mile. That is a closely
that have cut into their will rise by up to 4 percent United and budget car- mand for travel is still strong. watched measure of pric-
profits. over last year during the rier Spirit Airlines at several Strong demand “is over- ing power in the airline
Delta Air Lines third-quarter fourth quarter. big airports — were hurting coming some of those pric- business. Importantly, Delta
profit fell more than 6 per- That forecast comes a day profits. ing skirmishes that you read said that same figure would
cent to $1.18 billion, partly after American Airlines and It appears those fears were about in our industry,” Delta rise by between 2 percent
because Hurricane Irma United Airlines reported overblown. CEO Ed Bastian told CNBC. and 4 percent in the Oc-
robbed the company of that the same key revenue Delta’s shares rose in pre- Delta enjoyed its busiest tober-through-December
$140 million in revenue from figure would be better than market trading Wednes- summer ever, as traffic rose period that includes holi-
canceled flights. expected in the third quar- day, just one day after a 3.4 percent over last year. day travel.q

Tech and health care stocks take indexes back to records

By MARLEY JAY tion is going to stay lower rose 16.30 points, or 0.2 per- anticipated, and the com- 10-year Treasury note fell
AP Markets Writer than they had hoped. For cent, to 6,603.55. All three pany also issued a strong to 2.35 percent from 2.36
NEW YORK (AP) — U.S. stock years it’s come up short of indexes finished at all-time forecast for the fourth quar- percent. That sent affected
indexes drifted back to re- their 2-percent target. highs. The Russell 2000 index ter. Delta rose 37 cents to bank stocks because lower
cord highs Wednesday as Kristina Hooper, global of smaller-company stocks $53.07. It has surged 9 per- yields mean lower interest
investors got ready for an- markets strategist for Inves- edged down 1.08 points, or cent since Oct. 3, when it rates on loans, and lower
other round of corporate co, said one reason for that 0.1 percent, to 1,506.92. raised its third-quarter pro- profits for banks.
reports to begin. Technolo- low inflation is continued Hooper said inflation might jections. JetBlue gained 30 JPMorgan Chase and Citi-
gy, health care and house- fallout from the financial increase if President Don- cents, or 1.5 percent, to group will report their quar-
hold goods companies all crisis a decade ago. In her ald Trump and Congress $20.53 after it gave an up- terly results Thursday morn-
rose. view, many of the jobs that pass a tax cut that encour- date on the revenue it lost ing as bank earnings get
Technology companies like were lost after the 2008-09 ages businesses to invest following hurricanes Irma started.
PayPal, Visa, and Google’s meltdown were replaced more money. She said that and Maria. An upset loss by the U.S.
parent company Alphabet by lower-paying ones. businesses and consumers Johnson & Johnson led men’s soccer team dented
made some of the biggest “There are still a good por- both feel optimistic about health care companies shares of Twenty-First Cen-
gains as the market was tion of Americans who are the economy, but they’re higher after it asked regu- tury Fox. The team will miss
little changed for the third making less today than reluctant to spend money lators to approve its drug the 2018 World Cup follow-
day in a row. Banks slipped they made before the because they’re not sure apalutamide. It’s intended ing its loss to Trinidad and
along with interest rates global financial crisis,” she what economic policy will for patients with a hard-to- Tobago. That could cut
and industrial companies said. “That’s playing a role look like. treat form of prostate can- into advertising revenue for
took small losses. in lower wage growth and
Minutes from the Feder- low inflation.” Trader Andrew Silverman works on the floor of the New York Stock Exchange, Tuesday, Oct. 3,
al Reserve’s September The Standard & Poor’s 500 2017. Stocks are edging higher in early trading on Wall Street as automakers and homebuilders
post solid gains.
meeting showed officials index gained 4.60 points, or (AP Photo/Richard Drew)
were split about whether 0.2 percent, to 2,555.24. The
they need to raise interest Dow Jones industrial aver- Airlines rose for the sec- cer. Johnson & Johnson Fox, which will broadcast
rates again soon. But they age added 42.21 points, or ond day in a row. Delta Air stock climbed $2.75, or 2.1 the event. The stock fell 66
appeared to be getting 0.2 percent, to 22,872.89. Lines’ profit and revenue percent, to $136.65. Bond cents, or 2.5 percent, to
used to the idea that infla- The Nasdaq composite were better than analysts prices rose. The yield on the $26.11.q

US job openings slip in August yet remain near record high

By CHRIS RUGABER to the lowest in a decade. ment reported last week repair work should boost tion, retail and health care.
AP Economics Writer The unemployment rate, that Hurricanes Harvey construction hiring. And They fell in manufacturing
WASHINGTON (AP) — U.S. currently 4.2 percent, has and Irma caused employ- automakers are already re- and in professional and
employers are advertising hit a 16-year low. That has ers to shed 33,000 jobs in porting higher sales as resi- business services, a broad
near-record levels of job left businesses struggling to September. Still, the unem- dents of Texas and Florida category that includes ac-
openings, though the total fill open jobs. Even so, aver- ployment rate fell from 4.4 replace cars destroyed countants, engineers, and
slipped in August from July. age wage growth has been percent to 4.2 percent, as by flooding. Job openings lawyers, as well as tempo-
Job openings fell 0.9 per- sluggish, suggesting that many Americans in parts of rose in August in construc- rary workers.q
cent in August to just under companies aren’t offer- the country unaffected by
6.1 million, the Labor De- ing sufficiently healthy pay the storms found work. The
partment said Wednesday, to entice workers already proportion of Americans
from 6.14 million in the pre- employed to switch jobs. with jobs rose to the highest
vious month. July’s figure Companies also pulled level in a decade. The two
was revised slightly lower back slightly on hiring, and hurricanes are expected to
but is still the largest num- the number of people quit- dent economic growth in
ber of available jobs since ting their jobs also fell a the July-September quar-
records began in Decem- bit. Overall, the report sug- ter, but most economists
ber 2000. Job openings gests the job market was forecast a bounce-back
have risen as the number healthy but a little less ac- in the final three months of
of unemployed has fallen tive in August. The govern- the year. Rebuilding and