Page 25 - ARUBA TODAY

BUSINESS Tuesday 27 June 2017
A25

US stock indexes close mostly higher; oil recovers

$1.13, or 3.2 percent, to Arconic was the biggest
$36.48. decliner in the S&P 500 in-
Store Capital jumped 11.3 dex. The stock slumped 6
percent on news that War- percent after a published
ren Buffett’s Berkshire Ha- report asserted that the
thaway is buying a 9.8 per- company knowingly sup-
cent stake in the real estate plied flammable panels for
investment trust. The stock London’s Grenfell Tower,
gained $2.34 to $23.11. where a fire June 14 left 79
Traders also bid up shares people dead or missing. Ar-
in companies undergoing conic slid $1.53 to $24.01.
executive suite changes. Crude oil prices recovered
Pandora Media rose 2.2 after wavering in early
percent following reports trading. Benchmark U.S.
that the streaming music crude rose 37 cents, or 0.9
service’s founder and CEO percent, to settle at $43.38
Tim Westergren is stepping a barrel in New York. Brent,
down. The stock picked up the international standard,
18 cents to $8.46. gained 29 cents, or 0.6 per-
Supervalu gained 3.1 per- cent, to close at $45.83 a
cent after the grocery barrel in London. Oil prices
store operator said Bruce last week hit their lowest
Besanko would step down point since August and
Trader Michael Milano, right, works in the crowd on the floor of the New York Stock Exchange. U.S. as chief financial officer. about 15 percent below
stock indexes closed mostly higher Monday, snapping a four-day losing streak for the Dow Jones
industrial average on a day of largely listless trading. The stock climbed 9 cents where they were a year
(AP Photo/Richard Drew) to $3.03. ago on expectations sup-
By ALEX VEIGA ment. were expecting. Technology sector compa- plies exceed demand.
AP Business Writer The Standard & Poor’s 500 That helped pull down U.S. nies were down the most, In other energy trading,
U.S. stock indexes closed index added 0.77 points, or bond yields, which have al- reversing course after an wholesale gasoline rose
mostly higher Monday, 0.03 percent, to 2,439.07. ready been weighed down early rally. Qorvo slid $3.53, 1 cent to $1.44 per gal-
snapping a four-day losing The Dow gained 14.79 by increased demand from or 5.1 percent, to $66.41. lon. Heating oil also add-
streak for the Dow Jones in- points, or 0.1 percent, to overseas bond investors Skyworks Solutions fell $3.04, ed a penny to $1.38 per
dustrial average on a day 21,409.55. The Nasdaq seeking better yields and or 2.9 percent, to $101.32. gallon.q
of largely listless trading. composite slid 18.10 points, persistently low inflation in
Utilities led the gainers as or 0.3 percent, to 6,247.15. the U.S. The yield on the
falling bond yields made The Russell 2000 index of 10-year Treasury note was
high-dividend companies small-company stocks down to 2.12 percent ear-
more attractive to income- picked up 1.86 points, or 0.1 lier Monday before bounc-
seeking investors. Phone percent, to 1,416.64. ing back to 2.14 percent by
companies and real estate The major stock index- late afternoon.
investment trusts, which es were headed slightly The trend made high-divi-
also tend to offer high higher in early trading, but dend stocks favorite buys
yields, notched gains. Fi- spent much of the day wa- for many investors seeking
nancial stocks also did well. vering between small gains income, including utilities
Technology companies and losses. such as FirstEnergy and Ex-
declined the most, giving Early on, investors got some elon.
up gains from an early rally. discouraging news on the FirstEnergy climbed $1.18,
“It’s a pretty low volatil- economy from the Com- or 4.1 percent, to $30.09,
ity day and a continua- merce Department, which while Exelon gained 71
tion of the trend we saw reported that orders for cents, or 1.9 percent to
last week, which is equity durable goods, which are $37.21.
markets largely treading items meant to last at least Several real estate invest-
water,” said Bill Northey, three years, slid 1.1 percent ment trusts also climbed.
chief investment officer at in May. That was the sec- Kimco Realty rose 48 cents,
the private client group at ond straight decline and a or 2.7 percent, to $18.47.
U.S. Bank Wealth Manage- bigger drop than analysts CBRE Group picked up