Page 25 - ARUBA TODAY

BUSINESS Tuesday 10 July 2018
A25

US stocks rise again as trade worries take back seat

By STAN CHOE Telecoms and real-estate
Associated Press investment trusts both lost
NEW YORK (AP) — U.S. ground, while utilities were
stocks climbed with other the worst-performing area
markets on Monday as of the S&P 500, dropping
worries about trade ten- 1.3 percent.
sions between the United BEAUTIFUL: Helen of Troy's
States and the rest of the shares surged 13.3 percent
world took a back seat. to $115.49 after the con-
The world's two largest sumer-products company
economies took their big- reported stronger revenue
gest steps yet on Friday for the spring, with particu-
in a brewing global trade larly strong growth in online
war after the United States sales.
and China imposed duel- Like much of corporate
ing tariffs on each other's America, Helen of Troy has
goods. But a better-than- been using cash to buy
forecast U.S. jobs report on back its own stock, which
Friday and the expectation means profits are getting al-
for strong earnings reports located over fewer shares.
from nearly every swath The company behind the
of corporate America in Oxo and Braun brands said
the upcoming weeks have that it repurchased enough
nevertheless helped sup- during the last quarter to
port stocks. raise its forecast for earn-
KEEPING SCORE: The S&P ings per share for this fiscal
500 was up 20 points, or year.
0.7 percent, at 2,780, as of DEALING: Groupon jumped
noon Eastern time. It follows This June 25, 2018 file photo shows the New York Stock Exchange in New York. Associated Press 5 percent to $5.48 following
Friday's 0.8 percent gain a report from Recode that
after the government re- and Wells Fargo are among to come from energy com- interest rates can trans- the daily-deal company is
ported that U.S. job growth this week's headliners, and panies, which are ben- late into bigger profits for aggressively looking to be
remains strong despite all all are reporting on Friday. efiting from the rebound- banks by enabling them acquired by another com-
the concerns about global Financial companies are ing price of crude oil, and to charge higher rates pany.
trade. forecast to be one of the whose profits likely more for mortgages and other Its stock has lost more than
The Dow Jones industrial better-performing areas of than doubled. loans. 80 percent since peaking in
average rose 282, or 1.2 the market, and analysts YIELDS: Yields on Treasurys Financial stocks were the late 2011.
percent, to 24,738, and the have penciled in 25 per- rose as prices for bonds market's leader, and those MARKETS ABROAD: France's
Nasdaq composite rose 41, cent growth for their earn- fell. The yield on the 10- in the S&P 500 jumped 1.8 CAC 40 rose 0.4 percent,
or 0.5 percent, to 7,729. ings per share from a year year Treasury note climbed percent for the biggest Germany's DAX added 0.4
EARNINGS SEASON: Com- ago, according to S&P to 2.84 percent from 2.82 gain among the 11 sectors percent and the FTSE 100
panies are lining up to tell Global Market Intelligence. percent late Friday. The that make up the index. climbed 0.9 percent.
investors how much profit Across the S&P 500, analysts two-year yield rose to 2.57 DIVIDENDS DULLED: On the Japan's Nikkei 225 jumped
they made during the are calling for growth of 19 percent from 2.54 per- flip side, higher interest 1.2 percent, the Hang Seng
spring, and expectations percent thanks to lower cent, and the 30-year yield rates can lure buyers away in Hong Kong climbed 1.3
are high for another gang- tax rates and stronger rev- pushed up to 2.96 percent from high-dividend stocks percent and the Kospi in
busters quarter of growth. enues. from 2.93 percent. because they become South Korea added 0.6
Citigroup, JPMorgan Chase The biggest gains are likely FINANCIAL FLING: Higher more interested in bonds. percent.q

BMW: Tariffs mean higher prices in China for US-made SUVs

Associated Press — Automaker BMW says it the U.S.-built SUVs it sells in countries, making BMW the tices that include Chinese
FRANKFURT, Germany (AP) will have to raise prices on China due to higher tariffs. largest U.S. auto exporter. requirements that U.S. firms
China raised the import Trump has imposed tariffs transfer key technology as
tax on cars from the United to counter what he says the price of doing
States to 40 percent in re- are unfair trading prac- business. q
taliation for higher tariffs on
Chinese goods imposed by
President Donald Trump.
The dpa news agency re-
ported that the Munich-
based company said Mon-
day it is "not in a position to
completely absorb the tar-
iff increases."
BMW builds key SUV mod-
els in Spartanburg, South
In this Wednesday, March 21, 2018 file photo the logo of Ger- Carolina, where it employs
man car manufacturer BMW is pictured in Munich, Germany.
Associated Press 10,000 people. Those ve-
hicles are exported to 140