Page 25 - aruba-today-20171202

BUSINESS Saturday 2 december 2017
A25

Black Friday deals US stocks mostly recoup their losses after early slide
likely boosted US
auto sales in Nov. By ALEX VEIGA gave up $2.26, or 3.3 per-

By DEE DURBIN AP Business Writer cent, to $66.91.
Ulta Beauty slid 4.1 percent
AP Auto Writer Wall Street took investors after the beauty products
DETROIT (AP) — Black Fri- on a turbulent ride Friday retailer issued a disappoint-
day deals and strong con- as stock indexes veered ing forecast for the current
sumer confidence could into a steep slide that quarter that overshad-
push auto sales higher in knocked 350 points off the owed solid third-quarter
November despite wan- Dow Jones industrial av- results. The stock dropped
ing demand for post-hur- erage before the market $9.13 to $212.58.
ricane replacement ve- eventually clawed back Investors welcomed news
hicles. most of its losses. that Blue Apron named
Some analysts initially pre- The market stumbled af- a new CEO. The meal
dicted that November ter former national secu- kit maker has struggled
sales would drop as post- rity adviser Michael Flynn since its initial public offer-
hurricane sales slowed pleaded guilty to lying to ing in June. The stock rose
in Texas and Florida. But the FBI and said he would A broker walks past snowflake lighting decorating the facade 24 cents, or 8 percent, to
Black Friday promotions cooperate with the probe of the New York Stock Exchange. Wall Street took investors on $3.23.
— which began in early into Russian meddling in a turbulent ride Friday as stock indexes veered into a steep A pickup in crude oil priced
slide before the market eventually clawed back most of its
November — helped lure the U.S. presidential elec- losses. helped lift energy stocks,
buyers to dealerships. tion. (AP Photo/Mary Altaffer) giving the sector the big-
Fiat Chrysler was offering That raised concerns gest gain in the S&P 500.
up to $16,000 off its Chrys- among traders that the was announced. which is expected to add Oil and gas producer
ler 300 sedan, while Hyun- White House's legislative "The losses that we saw $1 trillion to the nation's Apache Corp. also posted
dai was kicking $3,750 off agenda, including a tax right when the Flynn infor- deficit over 10 years. It the big gain among S&P
the price of a Santa Fe overhaul under debate mation came out — the would also slash the cor- 500 companies, climbing
SUV. Car buying site KBB. in Congress, could be at market just hit an air pock- porate tax rate, offer more $2.39, or 5.7 percent, to
com said automotive risk. Those jitters were al- et," said Phil Orlando, chief modest cuts for families $44.22.
credit applications rose 42 layed somewhat by early equity strategist at Feder- and individuals and elimi- Benchmark U.S. crude New
percent on Black Friday afternoon, when Senate ated Investors. nate several popular de- York rose 96 cents, or 1.7
compared to other Fridays Republicans signaled they In pleading guilty Friday to ductions. percent, to settle at $58.36
in November. have enough votes to lying to the FBI about his "The tax bill, in our mind, is
push forward on the tax contacts with the Russian going through," said Orlan- a barrel. Brent, the inter-
Automakers were offer- legislation. ambassador, Flynn admit- do. "This Flynn situation, the national standard, added
$1.10, or 1.8 percent, to
ing an average of $3,700 "Once the Senate did an- ted he followed directions Mueller investigation, does close at $63.73 a barrel.
to $3,800 in incentives per nounce that they had suf- from an unnamed mem- not derail the tax reform, In other energy futures
vehicle in November. As ficient votes to move for- ber of President Donald which we think is essentially trading, wholesale gaso-
prices creep up, deals are ward, there was a respite Trump's transition team. at hand." line gained a penny to
creeping up with them, and we did come off the Special Counsel Robert The technology sector, an $1.74 a gallon. Heating
analysts say. The trend lower levels," said Eric Wie- Mueller is examining possi- investor favorite since the oil picked up 4 cents to
will likely continue in 2018, gand, senior portfolio man- ble coordination between beginning of the year, ac- $1.94 a gallon. Natural gas
when U.S. sales are ex- ager for Private Wealth Russia and the Trump cam- counted for some of the gained 4 cents to $3.06 per
pected to drop and auto- Management at U.S. Bank. paign to influence the out- biggest losses Friday. Qor- 1,000 cubic feet.
makers will be keen to hold The Standard & Poor's 500 come of the 2016 election. vo fell $2.37, or 3.1 percent, Bond prices rose. The yield
on to their market share. index fell 5.36 points, or 0.2 Flynn is the first official who to $74.21. on the 10-year Treasury fell
November sales were percent, to 2,642.22. The worked in the Trump White Qualcomm declined 1.3 to 2.36 percent from 2.41
buoyed by strong U.S. con- index still ended the day House to make a guilty percent after Bloomberg percent late Thursday.
sumer confidence, which with its best week since plea in the investigation. News reported that Broad- The dollar fell to 112.05 yen
was at its highest level mid-September. The Dow The news of Flynn's plea com, a rival chipmaker, from 112.53 yen on Thurs-
since November 2000, Jones industrial average came as investors were won't make a new offer day. The euro weakened
according to the Confer- slid 40.76 points, or 0.2 per- keeping an eye on Wash- for the company until next to $1.1893 from $1.1896.
ence Board. cent, to 24,231.59. The Nas- ington, where Republicans year. Qualcomm shed 85
Car buying site Edmunds. daq composite lost 26.39 moved to make major cents to $65.49. Broadcom Gold added $5.60, or 0.4
com predicted November points, or 0.4 percent, to changes to their proposed lost $6.38, or 2.3 percent, to percent, to $1,278.80 an
sales will rise 3.5 percent 6,847.59. The Russell 2000 tax overhaul package. $271.56. ounce. Silver dropped 9
over last year to 1.4 million index of smaller-company Senate Majority Leader Several airlines traded low- cents to $16.30 an ounce.
vehicles. stocks gave up 7.12 points, Mitch McConnell said after er as industrial stocks de- Copper rose 3 cents to
Here are other details or 0.5 percent, to 1,537.02. a closed-door meeting of clined. $3.07 a pound.
about November sales: The indexes, which hit re- Republican senators that American Airlines Group Major stock indexes in Eu-
— Subaru brand sales rose cord highs earlier this week, the GOP had the votes fell $1.49, or 3 percent, to rope closed lower. per-
1 percent to 51,721 vehi- had been little changed to deliver the legislation, $49, while Alaska Air Group
cles. Sales of the recently before Flynn's plea deal cent. q
revamped Impreza sedan
ting declines for the Out- Blue Apron shares soar after replacing CEO
more than tripled, offset-

back SUV.
— Hyundai Motor Co. sales NEW YORK (AP) — Shares of became a public compa- said late Thursday that Salz- chairman of the board.
fell 9 percent to 55,435 Blue Apron soared Friday, ny. Its stock is down nearly berg was replaced as CEO The company is searching
vehicles. Sales of its Tuc- a day after the meal-kit 70 percent since the end by Chief Financial Officer for a new chief financial of-
son SUV were up 51 per- company announced that of June, and the company Brad Dickerson. Salzberg, ficer.
cent but couldn't offset co-founder Matt Salzberg announced layoffs in Oc- who co-founded the com- Shares of Blue Apron Hold-
steep declines in car sales. stepped down as CEO. tober that cut 6 percent of pany 5 years ago, will be ings Inc. rose 23 cents, or
Genesis luxury sales rose The move comes less than its workforce. the company's executive 7.7 percent, to $3.22 in
slightly.q six months after Blue Apron The New York company chairman and will remain morning trading.q