Page 24 - ARUBA TODAY

Tuesday 14 March 2017 BUSINESS
A24

Wait and see: Stocks steady at beginning of jam-packed week

STAN CHOE meant a sell-off in stocks as
AP Business Writer investors worried about the
NEW YORK (AP) — Stocks impact of higher rates, said
held steady in a calm day JJ Kinahan, chief market
of trading Monday, but the strategist at TD Ameritrade.
storm may be coming. Now, it’s met with more
This upcoming week is equanimity because inves-
full of events that could tors are focusing instead
swing markets: The Federal on the improving economy
Reserve may raise inter- and hopes for bigger cor-
est rates, more countries porate profits in the future.
around the world may “It’s a very good sign,” Ki-
move to shake up the eco- nahan said. “It shows that
nomic status quo and sev- people do have faith in
eral high-profile updates stocks.”
on the U.S. economy are Investors will likely focus
due. That’s all in the near more on what Fed Chair
future, though. Monday’s Janet Yellen has to say
calendar was decidedly after the announcement
light, and the Standard & than on the rate increase
Poor’s 500 index flipped itself, which is expected to
between modest gains be only a quarter of a per-
and losses before closing centage point.
at 2,373.47, up just 0.87 Middleweight boxers Gennady “Triple G” Golovkin, left, and Daniel Jacobs, right, who will face “What the market is curious
points, just 0.04 percent. It each other in a unification bout Saturday, March 18, 2017, pose for photos with ring announcer about is: How many more
remains within 1 percent Michael Buffer, on the New York Stock Exchange trading floor, Monday, March 13, 2017. rate increases will there
of its record, which was set (AP Photo/Richard Drew) be, and what is the prima-
earlier this month. rest: the Federal Reserve’s rowing more expensive were expecting the Fed ry data that would drive
The Dow Jones indus- meeting on interest rates, and can be a drag on eco- to stand pat at its March that?” Kinahan said.
trial average fell 21.50 which begins Tuesday and nomic growth. But many meeting and then raise The job market has been
points, or 0.1 percent, to ends Wednesday. Most analysts say this time may rates later in the spring. But on the upswing recently,
20,881.48. The Nasdaq investors expect the Fed be different. As long as the expectations have swung and so has inflation. But a
rose 14.06 points, or 0.2 to raise rates for only the pace is gradual, these in- following a series of strong recent drop in the price of
percent, to 5,875.78. Three third time since they went creases will only be getting reports on the economy. oil may pull down inflation
stocks rose for every two to nearly zero during the fi- rates back to normal rather The headliner was Friday’s levels, which could encour-
that fell on the New York nancial crisis in 2008. than slamming the brakes jobs report, which showed age the Fed to move more
Stock Exchange. In such Usually, rising interest rates on the economy. healthy levels of hiring. slowly. The government will
a hectic week, one event are bad news for stocks It was only a few weeks A year ago, such a swing offer updates this week on
still stands out from the because they make bor- ago that many investors in expectations may have inflation at both the con-

Verizon sought $925M penalty for Yahoo’s lax security sumer and wholesale lev-
els, along with reports on
retail sales and other eco-
MICHAEL LIEDTKE biggest data breaches in line services, nearly three is now aiming to complete nomic indicators.
AP Technology Writer internet history merited a times more than the two the revised $4.48 billion pur- The yield on the 10-year
SAN FRANCISCO (AP) — $925 million discount on its companies finally agreed chase by the end of June. Treasury note rose to 2.61
Verizon initially thought the acquisition of Yahoo’s on- upon. After that, Yahoo’s email percent from 2.58 per-
Yahoo disclosed new de- and other digital services cent late Friday and is ap-
tails about its negotiations will become part of Ve- proaching its highest level
with Verizon in a regula- rizon, which is planning to since 2014. The two-year
tory filing Monday. The fil- meld the operations with yield rose to 1.37 percent
ing doesn’t say why Veri- its AOL division in an effort from 1.35 percent, while
zon relented on its original to become a bigger player the 30-year yield climbed
demand, issued on Feb. 1. the growing market for dig- to 3.21 percent from 3.16
Verizon ultimately accept- ital ads. percent. The Fed isn’t the
ed Yahoo’s offer to trim the Yahoo’s most valuable only central bank meeting
sale price by $350 million parts — investments in Chi- on interest rates this week.
instead. The companies na’s e-commerce leader, So are the Bank of Eng-
struck a $4.83 billion deal Alibaba Group, and in Ya- land, Bank of Japan and
last July, but re-opened hoo Japan — will be left others around the world.
talks after Yahoo revealed in a new company called Many economists expect
that personal information Altaba. That company will the Bank of England to
had been stolen from more be run by a Yahoo board hold steady, but another
than 1 billion of its users in member, Thomas McIner- action in London could
two separate hacking at- ney, instead of Yahoo CEO garner more attention. The
tacks in 2013 and 2014. The Marissa Mayer. government could formal-
discount reflect concerns Although she hasn’t di- ly begin the process of ex-
that people might de- vulged her plans, Mayer iting the European Union.
crease their use of Yahoo isn’t expected to work for The U.K. voted to leave the
email and other digital ser- Verizon. If she leaves, May- union last summer, one of
vices that Verizon is buying, er will receive a $23 million a growing number of pop-
reducing opportunities to severance package, ac- ulations around the world
show ads. cording to Monday’s filing. trying to throw off the sta-
Verizon Communications q tus quo.q