Page 25 - ARUBA TODAY

BUSINESS Saturday 4 November 2017
A25

Factory orders Equifax: executive stock sales after breach legal
up 1.4 percent ATLANTA (AP) — days immediately after the 29. of the breach when their

in September Equifax, the credit report company discovered the On Aug. 1 and Aug. 2, trades were made.

By M. CRUTSINGER company hacked over the breach. Equifax Chief Financial Of- The committee’s review
summer exposing the per-
ficer John Gamble and included dozens of inter-
When Equifax went pub-
AP Economics Writer sonal information of 145 lic with the breach in ear- three other executives sold views and the scouring of
WASHINGTON (AP) — Or- million Americans, said a ly September, company a combined $1.8 million in more than 55,000 docu-
ders to U.S. factories rose special committee has de- shares cratered, erasing stock. ments including emails, text
1.4 percent in September, termined that none of the about $2.35 billion of its The company said Friday messages, phone logs and
the strongest gain in four four executives who sold market value. that a special committee other records.
months. A key category shares at the time did any- The company revealed comprised of independent The report Friday is unlikely
that tracks business invest- thing wrong. that an ongoing cyberat- directors, and advised by to relieve pressure on the
ment plans jumped by the The high-level executives tack lasted from mid-May an independent counsel, beleaguered company,
largest amount in more sold shares worth a com- to July. Equifax Inc. said it found that none of the ex- which badly bungled the
than a year. bined $1.8 million in the detected the hack on July ecutives had knowledge response to the hack.q
The September gain fol-
lowed a 1.2 percent ad- Rising tech stocks send S&P 500 to new record
vance in August, the
Commerce Department By STAN CHOE
reported Friday. Last AP Business Writer
month’s increase was NEW YORK (AP) — Another
paced by a 30.8 percent spurt higher for Apple and
jump in demand for com- other technology stocks
mercial aircraft, which helped the Standard &
swings widely from month Poor’s 500 set a new re-
to month.The category cord on Friday, and the
that serves as a proxy for index closed out an eighth
business investment plans straight week of gains.
rose 1.7 percent in August, It was another mostly calm
the best showing since a day for markets after a re-
2.7 percent surge in July port showed that the U.S.
2016.Economists believe job market strengthened
manufacturing is on a sus- last month, though not
tained rebound that will by as much as expected.
provide support for the Bond yields held relative-
overall economy after a ly steady, stock markets
prolonged stretch of weak- around the world rose
ness.Demand for durable modestly and the price
goods, long-lasting items of oil climbed to its high-
ranging from bicycles to est level in more than two
battleships, rose 2 percent years. Trader Gregory Rowe works on the floor of the New York Stock Exchange, Wednesday, Nov. 1,
in September. That was a The S&P 500 rose 7.99 2017. Stocks around the world continued to push higher Wednesday, led by companies that ex-
slightly smaller gain than points, or 0.3 percent, to tract oil and other commodities from the ground.
the 2.2 percent estimate 2,587.84 after flipping be- (AP Photo/Richard Drew)
the government reported tween modest gains and S&P 500 after it reported age hourly earnings were economy. The government
last week.Orders for non- losses earlier in the day. weaker results for the latest up 2.4 percent from a year initially said employers cut
durable goods, items not The push higher helped it quarter than analysts ex- earlier, a slowdown from 33,000 jobs in September,
expected to last three clinch its longest weekly pected. The insurer’s shares September’s 2.8 percent but on Friday it said that
years, rose 0.8 percent last winning streak in nearly dropped $2.98, or 4.6 per- rate.While the jobs re- employment actually grew
month, up from a 0.4 per- four years. cent, to $62.00. port offered a mixed bag, by 18,000 during the month.
cent increase in August. The Dow Jones industrial AIG was an outlier in what other economic reports The mostly encouraging
The gain was led by a rise average rose 22.93 points, has been a better-than- on Friday were more en- reports on the economy
in petroleum products, a or 0.1 percent, to 23,539.19, expected earnings season. couraging, including ones bolstered expectations
category where the gain and the Nasdaq compos- Most companies have de- that showed better-than- that the Federal Reserve
in orders likely reflected in ite climbed 49.49 points, or livered higher profits for the expected growth in the will raise interest rates at its
large part a rise in energy 0.7 percent, to 6,764.44. July-through-September nation’s service sector and next meeting in Decem-
prices during the month. Technology stocks led the quarter than Wall Street factories, said Phil Orlando, ber. It would be the third
The overall economy grew way, as they have for most had forecast, with growth chief equity market strate- increase this year.
at a 3 percent rate in the of this year. Apple was at particularly strong for the gist at Federated Investors. The Fed is slowly reining
July-September quarter fol- the forefront after it re- technology sector. That has him and other in- in the stimulus it provided
lowing a 3.1 percent GDP ported stronger revenue Early in the day, gains for vestors confident that the the economy following the
rise in the second quarter. and earnings for the lat- the market were more ten- economy is continuing to Great Recession. Besides
It marked the first consecu- est quarter than analysts tative after the government strengthen, which should gradually raising interest
tive quarterly gains of 3 forecast. A new iPhone released the most highly translate into higher corpo- rates, it’s also trimming its
percent or better in three model debuted on Friday, anticipated economic re- rate profits. bond-investment portfolio.
years.For September, or- and Apple said it expects port of each month: the “I think these numbers will Economists expect the slow
ders for mining and oil field the $1,000 phone to make jobs report. clean themselves up in the pace to continue, even as
machinery shot up by 17.8 this holiday season its best Employers added 261,000 next month or two,” Orlan- a new chairman arrives.
percent. This sector has quarter ever. Apple shares jobs in October, and do said. President Donald Trump on
been posting strong gains rose $4.39, or 2.6 percent, the unemployment rate Economists said the last Thursday nominated Je-
after a prolonged period of to $172.50. dipped to 4.1 percent, its two months’ jobs reports rome “Jay” Powell to suc-
weakness as energy com- On the losing side was lowest level in nearly 17 have been difficult to ceed Janet Yellen, whose
panies cut back sharply American International years. But job and wage parse because of the dam- term expires in February.
on exploration after petro- Group, which fell to one of growth were weaker than age that hurricanes did Interest rates held relatively
leum prices plunged. q the sharpest losses in the economists forecast. Aver- across broad swaths of the steady. q