Page 25 - ARUBA TODAY

BUSINESS Tuesday 10 april 2018
A25

Stocks rise, but biggest gains fade as market stays volatile

By MARLEY JAY 1.4 percent last week, with China has pledged to
AP Markets Writer large losses Monday and "counterattack with great
NEW YORK (AP) — U.S. Friday and strong gains in strength" if Trump decides
stock indexes finished a bit between. to follow through on that
higher Monday as investors The Dow Jones industrial threat. The two nations had
let go of some of their fears average rose 46.34 points, already proposed $50 bil-
about a possible trade or 0.2 percent, to 23,979.10. lion in tariffs on imports, but
war between the U.S. and The Nasdaq composite none of that has taken ef-
China. But far bigger gains jumped 35.23 points, or 0.5 fect yet.
slipped away as the market percent, to 6,950.34. The "We don't have a trade
suffered a steep afternoon Russell 2000 index of smaller war," said Severinovsky, of
decline. company stocks added Schroders. "We have po-
Stocks climbed higher and 1.17 points, or 0.1 percent, tential suggestions of things
higher in the first hours of to 1,514.46. that could happen.
trading, and at about 2 The Russell index is com- Swiss drugmaker Novar-
p.m. the Dow Jones indus- posed of more U.S.-fo- tis agreed to buy AveXis Trader Thomas McCauley, left, and specialist Thomas Schreck
trial average was up 440 cused companies that are for $8.7 billion, or $218 a work on the floor of the New York Stock Exchange, Monday,
points. That put the market somewhat less vulnerable share, as it aims to become April 9, 2018.
on track to make up almost to the effects of tariffs, so a leader in the treatment
all of the ground it lost dur- its moves in response to of neurodegenerative dis- for Facebook as it tries to since March 16.
ing a big sell-off on Friday. the recent trade tensions eases. AveXis is studying get its data privacy scan- Facebook's woes have af-
But stocks have repeat- haven't been as dramatic. a treatment for a disorder dal under control. Face- fected other social me-
edly changed course as Most of the stocks on the called spinal muscular at- book CEO Mark Zuckerberg dia companies and big
investors tried to guess the New York Stock Exchange rophy Type 1, which Novar- is meeting with legislators technology companies,
outcome of the U.S.-China finished lower Monday. tis called the top genetic and will testify before Con- including Google's parent
trade dispute, and they did Investors don't know how cause of death in infants. gress later this week as the company, Alphabet. Sev-
it again Monday afternoon. the trade dispute might AveXis climbed $94.55, or company has embarked erinovsky said investors are
Health care companies evolve and what it might 81.6 percent, to $210.46 on a high profile effort to considering the possibil-
finished with strong gains, mean for the global econo- and Novartis added 87 convince users, advertisers ity that the companies will
and technology compa- my. While President Donald cents, or 1.1 percent, to and investors that it is seri- be regulated in ways they
nies like Microsoft and Ap- Trump continued to bash $81.07. ous about fixing problems never have been, which
ple regained some of their America's trade deals on Agribusiness company that led to the Cambridge will create new costs and
recent losses. Banks rose Twitter Monday, he said the Monsanto jumped $7.29, Analytica scandal and affect their earnings. But
along with interest rates. U.S. and China could set- or 6.2 percent, to $125.15 about user privacy as a she thinks they will continue
But industrial and retail tle their dispute. But things after The Wall Street Jour- whole. to do well.
companies finished with looked worse at the end nal reported that the De- Facebook picked up 73 "These companies are go-
losses, and smaller compa- of last week, when Trump partment of Justice will ap- cents to $157.93. Its stock ing to continue to be very
nies fared worse than larg- threatened to impose tar- prove its sale to German is down almost 15 percent profitable," she said.q
er ones did. iffs on an additional $100 conglomerate Bayer.
"Every day the market billion in Chinese goods. This week will be a big one
wakes up and it struggles
with whether it should pay
attention to noise or pay
attention to fundamentals,"
said Marina Severinovsky,
an investment strategist at
Schroders. She said stocks
have done well recently
when investors can get
their minds off the trade
disputes because the glob-
al economy and the U.S.
economy are still growing.
When companies start to
report their first-quarter re-
sults later this week, she
added, the results are likely
to be good.
The S&P 500 index gained
8.69 points, or 0.3 percent,
to 2,613.16. The S&P 500 fell