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BUSINESS Thursday 17 May 2018
A25

US stocks on course to rebound in afternoon trade

By ALEX VEIGA and health care sector
AP Business Writer companies notched solid
U.S. stock indexes moved gains. Micron Technology
higher in late-afternoon rose 4.9 percent to $56.66,
trading Wednesday, led while Cerner added 3.3
by gains in big technology percent to $60.20.
names, health care com- RETAIL RALLY: Macy’s
panies and retailers. Macy’s jumped 10.9 percent to
led a rally among retailers $33.20 after reporting quar-
after reporting surprisingly terly results that were far
strong results. Small-com- better than analysts were
pany stocks fared better expecting. The company
than the rest of the market. said its Bloomingdale’s
Safe-play stocks like utilities and Bluemercury divisions
and real estate companies as well as its flagship store
lagged. brand all did well. Several
KEEPING SCORE: The S&P other retailers also moved
500 index rose 15 points, higher. Nordstrom added
or 0.6 percent, to 2,727 as 2 percent to $50.86, while L
of 3 p.m. Eastern Time. The Brands gained 3.1 percent
Dow gained 87 points, or to $34.33. Target shares
0.4 percent, to 24,794. The picked up 2.9 percent to
Nasdaq composite added $75.21.
59 points, or 0.8 percent, to ENCOURAGING UPDATE:
7,411. The Russell 2000 index Office Depot climbed 6.2 In this April 26, 2018, file photo, Vincent Pepe enjoys some fresh air outside the New York Stock
of smaller-company stocks percent to $2.49 after the Exchange where he works in the Financial District in New York.
picked up 20 points, or 1.3 office supply company Associated Press
percent, to 1,620. maintained its forecasts for $117.43 after the Berkshire ENERGY: Benchmark U.S. an ounce. Copper gained
THE QUOTE: “Earnings the year. sold about half of its invest- crude oil recovered from 1 cent to $3.07 a pound.
growth has shown through FIDO APPROVED: Abaxis ment in the oil and gas an early slide, adding 18 MARKETS OVERSEAS: Ma-
and that’s been primar- vaulted 16.2 percent to company. cents to settle at $71.49 a jor indexes in Europe rose.
ily based on strong funda- $83.38 after the veterinary BOND YIELDS: Bond prices barrel in New York. Brent Germany’s DAX gained
mental growth from U.S. diagnostic products com- fell. The yield on the 10-year crude, used to price inter- 0.2 percent, while France’s
companies,” said Jamie pany agreed to be ac- Treasury rose to 3.09 per- national oil, rose 85 cents CAC 40 added 0.3 percent.
Lavin, global investment quired by Zoetis. cent from 3.07 percent late to close at $79.28 a barrel Britain’s FTSE 100 rose 0.1
specialist at J.P. Morgan WARREN’S WAY: Teva Phar- Tuesday, when the yield in London. percent. In Asia, Japan’s
Private Bank. “And when maceutical Industries add- climbed to its highest level CURRENCIES: The dollar fell Nikkei 225 stock index lost
equity markets are able to ed 3.3 percent to $20.97 in nearly seven years. to 110.22 yen from 110.38 0.4 percent following new
look through to that and after Warren Buffett’s com- Utilities and other high-div- yen on Tuesday. The euro data showing that Japan’s
we don’t have any major pany Berkshire Hathaway idend paying stocks de- weakened to $1.1804 from economy contracted in
geopolitical headlines, we more than doubled the clined Wednesday, added $1.1847. the first quarter. The Kospi in
tend to have stronger days size of its investment in the to losses from a day earlier. METALS: Gold rose $1.20 to South Korea was essential-
in the market.” Israeli drugmaker. Phillips Sempra Energy fell 1.4 per- $1,291.50 an ounce. Silver ly flat. Hong Kong’s Hang
BIG GAINERS: Technology 66 slipped 0.8 percent to cent to $103.79. added 10 cents to $16.37 Seng slipped 0.1 percent.q

Amazon to give Prime members extra discounts at Whole Foods

will expand nationwide
this summer. Prime mem-
bers get an additional 10
percent off sale items and
exclusive deals on certain
items. This week in Florida,
for example, Prime mem-
bers can get $2 off a pound
of organic strawberries or
save $10 a pound on wild
halibut steaks.
Amazon wouldn’t say if it
plans to add the benefits
to Whole Foods stores in
Canada and the United
In this Monday, Aug. 28, 2017, file photo, a sign at a Whole Foods Kingdom.
Market greets shoppers in Tampa, Fla. In bringing Prime to Whole
Associated Press Foods, Amazon is trying
By JOSEPH PISANI members extra discounts to give members another
AP Retail Writer at the grocery chain. reason to stay on as sub-
NEW YORK (AP) — It’s Prime The new benefits started scribers — even as it raises
time at Whole Foods: Ama- Wednesday at Whole the price — and try to lure
zon said it will give its Prime Foods stores in Florida and those who aren’t to join.q