Page 25 - ARUBA TODAY

BUSINESS Tuesday 11 april 2017
A25

Report: Countries US stock indexes eke out tiny gains, led by energy
should help those
hurt by free trade ALEX VEIGA though the next cycle of for international oil prices, after the wireless spectrum

AP Business Writer company earnings reports gained 74 cents, or 1.3 per- license company agreed
PAUL WISEMAN U.S. stock indexes eked out kicks off on Wednesday. cent, at $55.98 a barrel in to be acquired by AT&T in
AP Economics Writer tiny gains Monday as news “There are a lot of things London. a deal valued at $1.25 bil-
WASHINGTON (AP) — The of several corporate deals coming up on the horizon, Traders bid up shares in lion. Straight Path’s shares
world isn’t doing enough helped lift the market.
to help workers and com- Energy stocks led the gain-
munities damaged by free ers as the price of crude
trade, the International oil rose for the fifth day in
Monetary Fund, World a row. Phone companies
Bank and World Trade Or- were the biggest laggard.
ganization say. Gold fell and the dollar
In a report Monday, the weakened versus the yen
three multinational groups and euro.
repeated their longstand- “There’s not a lot of impetus
ing view that free trade to move markets today,”
spreads broad economic said David Schiegoleit,
benefits. Open markets managing director at the
and increased competi- Private Client Reserve at
tion can help poor coun- U.S. Bank. “The market is
tries rise from poverty, low- just biding time until we get
er prices in rich countries more data.”
and force companies and The Standard & Poor’s 500
countries to become more index gained 1.62 points,
efficient and focus on what or 0.1 percent, to 2,357.16.
they do best. The Dow Jones industrial
But drawing on recent re- average rose 1.92 points, or
search, they admit that 0.01 percent, to 20,658.02.
those who lose out in glob- The Nasdaq composite in- Trader Edward McCarthy works on the floor of the New York Stock Exchange. U.S. stock indexes
al competition can be hit dex added 3.11 points, or eked out tiny gains Monday as news of several corporate deals helped lift the market.
harder and suffer longer 0.1 percent, to 5,880.93. (AP Photo/Richard Drew)
than previously under- Bond prices rose. The 10-
stood. The organizations year Treasury yield fell to with earnings, Fed-speak several companies an- gained $55.16, or 151.2
want countries to make it 2.36 percent from 2.38 per- and things like that,” said nouncing deals. percent, to $91.64. AT&T
easier for people to switch cent late Friday. Schiegoleit. “In terms of ev- Among them were truck- slipped 21 cents to $40.38.
careers or move where The major indexes veered erything else, the market is ing companies Swift Trans- The whiff of a potential
jobs are, and in some cas- lower soon after the mar- in a wait-and-see mode.” portation and Knight Trans- company sale also drew
es to provide insurance for ket opened on Monday, Several oil industry stocks portation, which agreed investors to buy up shares
lost wages. but moved into positive got a boost from rising to combine in an all-stock in Whole Foods Market.
The report comes amid territory by midday. They crude prices. Hess climbed deal. Swift shareholders The company’s stock
a backlash against glo- spent much of the after- $1.92, or 4 percent, to will own a majority of the jumped 10 percent after
balization in the United noon drifting between $49.97. Rig operator Trans- company, which will be Jana Partners bought an
States and Europe. Presi- small gains and losses. ocean rose 32 cents, or 2.6 called Knight-Swift Trans- 8.8 percent stake in the
dent Donald Trump was Trading was mostly quiet percent, to $12.75. portation Holdings. Swift’s supermarket chain. Three
elected after promising ahead of the Good Friday Benchmark crude oil shares added $4.75, or 23.7 Jana employees plan to
to renegotiate or tear up holiday, when U.S. markets closed higher for the fifth percent, to $24.77, while run for spots on the board
trade agreements and to will be closed. In addition, day in a row, adding 84 Knight gained $4.10, or and seek to launch a re-
consider imposing trade no major economic reports cents, or 1.6 percent, to 13.4 percent, to $34.75. view of options for the
sanctions against countries are due out this week, $53.08 a barrel in New York. Straight Path Communica- company, including a po-
that use what he calls un- Brent crude, the standard tions more than doubled tential sale.q
fair trade practices. British
voters decided last year to Satellite launcher Avio ready for next space race
leave the European Union,
a rebuke to policymakers COLLEEN BARRY 5, which reach geocentric include countries such as development that will al-
who had sought ever clos- AP Business Writer orbit at 35,786 kilometers Peru and Vietnam, beyond low rural and remote areas
er economic ties between MILAN (AP) — Italian sat- (22,236 miles), or the Vega, bigger nations like Brazil, to have the same access
the countries of Europe. ellite launcher company a joint venture with the South Korea and Japan. to the internet as urban
After surging in the 1990s Avio’s successful public of- Italian Space Agency to “It is a question of inde- centers.
and much of the 2000s, fering on Monday will help put small satellites into low pendence, or if you like of Satellite imaging also al-
global trade has faltered fuel its ambitions to be a Earth orbit. non-dependence,” Ranzo lows management of the
since the Great Recession. leader in the next space CEO Giulio Ranzo said the told the Associated Press. evolution of crops, monitor-
Last year, world trade grew race, the company’s CEO public offering was driv- “Whether we like it or not, ing of movements of Islam-
just 1.9 percent, the slowest said in an interview. en by “unprecedented our economy, or our life ic State fighters across the
since the recession year Avio, one of the largest sat- change, a very rapid shift on Earth will increasingly desert, or keeping an eye
2009. ellite launchers in Europe toward commercial de- be relying on services that on how shipping contain-
Roberto Azevedo, the and the first in its category mand” that will require comes from space. It is a ers are being managed in
head of the World Trade to go public, saw its share Avio to be able to mobilize question if you want to be a far-away port.
Organization, said after price close at 13.40 euros, financial resources quickly. in the driver’s seat, or sitting “You can monitor the real
a meeting with German a gain of 6.6 percent on its The new space race is be- next to the driver’s seat.” volume of information in-
Chancellor Angela Merkel initial pricing, after touch- ing driven by smaller coun- Ranzo said internet stead of relying on third-
in Berlin on Monday that it ing a high of 13.95 euros. tries getting satellites into beamed from space should party information,” he
was important to note the Avio makes engines for space in a bid for indepen- become widely available said. “It provides objective
positive impacts of tradeq rockets such as the Ariane dence, Ranzo said. They in just two or three years, a information.”q