Page 25 - ARUBA TODAY

BUSINESS Friday 6 OctOber 2017
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US factory orders increase 1.2 percent in August

By MATT OTT impact the data, the de- continues to look healthy from customers.Orders for rose 0.4 percent in August,
Associated Press partment said. after a survey released ear- metals rose 1.2 percent, its after a 0.5 percent gain last
WASHINGTON (AP) — The report suggests U.S. lier this week found that best showing since Febru- month.
Orders at U.S. factories in- manufacturing is benefiting factory activity expanded ary, and included a gain of Transportation includes the
creased by 1.2 percent in from a stronger dollar and in September at the fast- 2.3 percent for aluminum volatile aircraft category, in
August, driven by strong an improving global econ- est pace in 13 years.A orders.Industrial machinery which orders soared nearly
gains in aluminum and omy. category that serves as a orders rose 11.5 percent af- 45 percent after a plunge
other metals, industrial ma- Americans are buying proxy for business invest- ter two months of declines of more than 71 percent
chinery and autos.The solid more cars, in part to re- ment climbed a solid 1.1 and orders for autos rose in July.Orders for durable
showing follows a steep place those destroyed by percent after a 1.3 percent 0.7 percent after declining goods — items meant to
drop of 3.3 percent in July, Hurricanes Harvey and increase in July. The gains 2.2 percent the previous last at least three years —
the Commerce Depart- Irma. That could boost or- in business investment show month. were back up 2 percent
ment said Thursday. ders in the coming months. companies are optimis- Excluding the transporta- after tumbling 6.8 percent
Recent hurricanes didn’t The manufacturing sector tic about future demand tion sector, factory orders in July.q
Stocks rise; S&P 500 matches longest winning run in 4 years

113.75, or 0.5 percent, to number of workers apply-
22,775.39 and the Nasdaq ing for unemployment ben-
composite rose 50.73, or efits last week.
0.8 percent, to 6,585.36. Friday’s report from the
All three indexes added to Labor Department on
their records set a day ear- monthly job growth will
lier, again. likely show momentum in
All those moves higher ac- the opposite direction, with
tually have some profes- most economists forecast-
sional investors a bit ner- ing a drop-off in hiring. But
vous, because even the that’s mostly because of
healthiest markets tend to damage caused by recent
have some sharp sell-offs hurricanes, which hopefully
from time to time. The last will be only temporary.
time the S&P 500 had a With the economy and
pullback of just 5 percent corporate earnings seem-
was more than a year ago. ingly solid, TD Ameritrade’s
“What’s really troubling Kinahan said if there is a
most people more than trigger for a downturn in
anything is that we just go stocks, it would likely be
straight up,” said JJ Kina- either a new flash in politi-
han, chief strategist at TD cal tensions with North Ko-
Trader Jonathan Corpina, left, works on the floor of the New York Stock Exchange. The last time the Ameritrade. “There hasn’t rea or somewhere else in
stock market had this long a winning streak, Twitter shares weren’t even a part of it yet. been a pullback. That’s the world, or a stumble in
(AP Photo/Richard Drew) what most on Wall Street Washington’s progress to
By STAN CHOE dard & Poor’s 500 index climbed to record after re- are trying to come to grips reform the tax system.
AP Business Writer higher for an eighth straight cord for much of this year with.” Netflix jumped to the big-
NEW YORK (AP) — The last day, its longest winning as both the economy and Encouraging reports on the gest gain in the S&P 500
time the stock market had streak since July 2013, corporate profits have im- economy have been help- Thursday after it raised the
this long a winning streak, which was months before proved. ing stocks, and on Thursday price on its most popular
Twitter shares weren’t even Twitter shares started trad- The S&P 500 rose 14.33 they included a stronger- U.S. video streaming plan
a part of it yet. ing publicly. It’s the lat- points, or 0.6 percent, to than-expected rebound in by 10 percent. Shares rose
Yet another gain for stocks est step higher for a mar- 2,552.07. The Dow Jones U.S. factory orders during $9.94, or 5.4 percent, to
on Thursday sent the Stan- ket that’s methodically industrial average gained August and a drop in the $194.39. q
Jobless claims drop 12,000 to 260,000 last week

By M. CRUTSINGER checks has fallen 6.2 per- ment claims are a proxy for has added an average of 226,000 a month in 2015.
AP Economics Writer cent over the past year to layoffs. Despite the impact 176,000 jobs a month, sol- Many businesses complain
WASHINGTON(AP)The num- 1.94 million. of the storms, the overall id but down from 187,000 that they can’t find enough
ber of Americans applying KEY DRIVERS: In the after- level of claims remains low, a month last year and workers.q
for unemployment bene- math of Irma, claims had suggesting that most Amer-
fits fell by 12,000 last week risen sharply in Florida and ican workers enjoy job se-
to 260,000, as claims re- Georgia two weeks ago curity. The unemployment
turned to more normal lev- but fell last week by 26.8 rate is at 4.4 percent, near
els following the disruptions percent in Georgia and a 16-year low.The govern-
caused by Hurricane Irma 20.4 percent in Florida. ment will release the Sep-
in Florida and Georgia. Claims were also down in tember employment report
THE NUMBERS: The Labor Texas, dropping by 15.1 on Friday. The expectation
Department said Thursday percent from the previous is that the economy cre-
that the less-volatile four- week as benefit applica- ated around 100,000 jobs
week average declined by tions returned to more nor- and the unemployment
9,500 to 268,250. Overall, mal levels in that state fol- rate held steady at 4.4 per-
the number of Americans lowing Hurricane Harvey. cent, near a 16-year low.So
collecting unemployment THE TAKEAWAY: Unemploy- far this year, the economy