Page 25 - ARUBA TODAY

BUSINESS Tuesday 1 augusT 2017
A25

Stocks inch up as media and bank gains cancel out tech dip

By MARLEY JAY or 0.4 percent, to 6,348.12.
AP Markets Writer The Russell 2000 index of
NEW YORK (AP) — U.S. smaller-company stocks
stocks finished mostly high- dipped 4.12 points, or 0.3
er Monday as banks, me- percent, to 1,425.14. A ma-
dia and energy compa- jority of the stocks on the
nies climbed just enough New York Stock Exchange
to cancel out losses for rose.
technology companies Charter Communications
including Facebook and climbed after Bloomberg
Amazon. reported that Japanese
Cable provider Charter conglomerate SoftBank is
Communications surged considering buying it. The
on a report it might be report Sunday said that
bought by a Japanese SoftBank initially wanted
technology company. to combine Charter with
Meanwhile, cable net- Sprint, but after Charter re-
works Scripps Networks jected that idea, the tech-
and Discovery Communi- nology company may buy
cations agreed to com- Charter outright. Shares of
bine in a deal worth almost the cable provider jumped
$12 billion. $21.65, or 5.8 percent, to
Technology companies $391.91, and investors val-
missed out. Facebook re- George Ettinger, right, works with fellow traders on the floor of the New York Stock Exchange. ue Charter at about $101
U.S. stocks finished mostly higher Monday as banks, media and energy companies climbed just
turned some of its gains enough to cancel out losses for technology companies including Facebook and Amazon. billion.
from last week, when it (AP Photo/Richard Drew) Discovery Communica-
posted strong second- tions, which owns TLC and
quarter results, and reports their second-quarter re- er regions will do better. economic expansion.” the Discovery Channel,
of higher expenses con- sults, and this week, Apple “The earnings cycle and The Standard & Poor’s 500 will buy Scripps Networks
tinued to affect Amazon’s and other companies will the economic cycle are index fell 1.80 points, or 0.1 Interactive for $90 per
shares. Banks rose, with join the fray. Steve Wood, earlier stage and the cen- percent, to 2,470.30. The share. Scripps, which owns
HSBC climbing after it dis- chief market strategist for tral bank of Europe is go- Dow Jones industrial aver- HGTV and the Travel Chan-
closed its own earnings. Russell Investments, said ing to be providing liquidity age continued to build on nel, picked up 50 cents to
About half of the com- he expects strong earnings over the next year,” he said. its record highs. It gained $87.41. It’s up 30 percent in
panies in the Standard & for U.S. companies, but he “It’s been an eight-and-a- 60.81 points, or 0.3 percent, two weeks on reports the
Poor’s 500 have reported thinks stock markets in oth- half-year bull market in the to 21,891.12. The Nasdaq companies would com-
U.S. and eight-plus-year composite lost 26.55 points, bine. q
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