Page 25 - aruba-today-20190119

BUSINESS Saturday 19 January 2019
A25

US stocks rise again to build on four-week rally

By MARLEY JAY the company lowers the
Associated Press price for its cars.
NEW YORK (AP) — U.S. He said in a note to staff
stocks are rising again Fri- that the road ahead is
day morning as the market "very difficult."
wraps up another strong THE SHOE FITS: VF Corp, the
week with big gains for maker of brands includ-
technology and industrial ing Timberland and North
companies, while banks Face, surged 11.4 percent
rose after more of them to $81.65 after it raised its
posted strong fourth-quar- forecasts for the year.
ter reports. Stock indexes BONDS: Bond prices fell.
have made big gains since The yield on the 10-year
reaching a low point on Treasury note rose to 2.76
Christmas Eve, as the S&P percent from 2.74 percent.
500 has risen for four weeks US-CHINA TRADE: China
in a row. Electric car maker said that its economy czar,
Tesla stumbled, however, Vice Premier Liu He, will visit
after saying it will cut 7 per- Washington for talks on Jan.
cent of its jobs. 30-31 aimed at ending the
KEEPING SCORE: The S&P tariff war sparked by U.S.
500 index rose 20 points, or complaints about Beijing's
0.8 percent, to 2,656 as of In this Jan. 11, 2019, file photo, trader Frank O'Connell on the floor of the New York Stock Exchange. technology ambitions. Busi-
10:25 a.m. Eastern time. The Associated Press ness groups and econo-
Dow Jones Industrial Aver- mists were looking for Liu
age gained 166 points, or global economic growth, growth and the stock mar- $60.24 following their quar- and his American counter-
0.7 percent, to 24,536. The and U.S. growth in particu- ket's recent turmoil. The S&P terly reports. part, U.S. Trade Represen-
Nasdaq composite added lar, was going to get worse 500, the main benchmark Many large banks reported tative Robert Lighthizer, to
44 points, or 0.6 percent, than they thought. Threats for U.S. stocks, fell 19.8 per- their fourth-quarter results take part in talks as a sign
to 7,128. The Russell 2000 including the U.S.-China cent from late September this week, and they've ben- lower-level negotiations
index of smaller and more trade dispute, rising inter- to late December and has efited from gradually rising earlier in Beijing made prog-
U.S.-focused companies est rates in the U.S., slow- now recovered a little more interest rates as well as the ress. The Wall Street Journal
picked up 8 points, or 0.6 ing growth in China and than half of those losses. corporate tax cut and oth- reported Treasury Secretary
percent, to 1,475. Europe, and unstable po- MACHINE EARNING: Truck- er tax law changes at the Steven Mnuchin was willing
The S&P 500 is on track for litical situations like Brexit all ing and logistics company end of 2017. Bank stocks to roll back U.S. tariff hikes
its fourth straight weekly made it seem like 2019 was J.B. Hunt Transportation had a bad year in 2018, in on Chinese goods, though
gain. It's up 2.3 percent this going to be a disappoint- jumped 5.9 percent to large part because inves- it said Lighthizer and other
week and has risen at least ing year. Some investors $105.67 after its fourth- tors weren't sure where in- officials opposed that idea.
1.9 percent every week felt a recession in the U.S. or quarter report, and rail- terest rates would go. But ENERGY: Benchmark U.S.
during the rally. It's been a the global economy was a road company Union Pa- the stocks tend to do bet- crude jumped 2.6 percent
long time since stocks had possibility in late 2019 or in cific gained 1.8 percent to ter when traders feel bet- to $53.42 in New York. Brent
a similar winning streak: ac- 2020. $157.47. Aerospace giant ter about the health of the crude, used to price inter-
cording to Ryan Detrick of Over the last three weeks, Boeing rose 1 percent to economy because when national oils, added 1.9
LPL Financial, the last time investors have taken a $362.59. it's growing, businesses and percent to $62.34 a barrel
the S&P 500 rose at least breath and decided things Among technology com- individuals tend to take out in London.
1.5 percent a week for four may not get that bad. The panies, software maker more loans. The S&P 500's OVERSEAS: European stocks
weeks was in early 2009, U.S. economy doesn't ap- Oracle added 1.2 percent index of bank stocks has jumped. Germany's DAX
immediately after the stock pear to have slowed much, to $49.17 and chipmaker jumped 8 percent over the climbed 2 percent and the
market hit its low point in and there have been some Broadcom rallied 1.6 per- last month, while the S&P FTSE 100 in Britain rose 1.7
the wake of the 2007-08 fi- signs the U.S. and China are cent to $259.34. 500 itself is up 4 percent. percent. The French CAC
nancial crisis that caused making gradual progress in BANKS: Financial stocks TESLA CUTS: Tesla fell 9.8 40 gained 1.5 percent.
the Great Recession. That their trade negotiations. continued to do better percent to $31.33 after the Hong Kong's Hang Seng
streak lasted for six weeks. The Federal Reserve has than the rest of the mar- company said it would cut gained 1.2 percent and
WHERE ARE WE NOW?: suggested it doesn't plan ket. State Street rose 4.2 7 percent of its jobs. CEO the Nikkei 225 in Japan rose
Stocks sank in late 2018 to raise interest rates much percent to $74.03 and Sun- Elon Musk said the cuts are 1.3 percent. Seoul's Kospi
as investors worried that further in light of slowing Trust jumped 3.8 percent to meant to reduce costs as added 0.8 percent.q

Manufacturing surge pushes industrial production up 0.3 pct

By JOSH BOAK largest gain since February tion is up 4 percent from a facilities. Capacity utiliza- and China and the wan-
Associated Press 2018. Automakers drove year ago. tion at factories increased ing stimulus from President
WASHINGTON (AP) — U.S. much of the growth with "This was a solid report and 0.7 points to 76.5 percent, a Donald Trump's tax cuts.
industrial production in- a 4.7 percent jump in pro- a good finish to 2018," said solid increase though that's Auto sales improved 0.3
creased 0.3 percent in De- duction. Jennifer Lee, a senior econ- two points below the long- percent in 2018 to 17.27 mil-
cember, led by the biggest Utility output slumped 6.3 omist at BMO Capital Mar- term average. lion vehicles sold.
surge in manufacturing in percent amid an unsea- kets. Manufacturers have ben- Yet there are also signs that
ten months. sonably warm December. The manufacturing sector efited from a relatively manufacturers might strug-
The Federal Reserve said Mining output rose 1.5 per- was also using more of ca- healthy economy, despite gle to keep expanding.
Friday that that manufac- cent on increased extrac- pacity, a sign that compa- concerns about a global Still, any reading above
turing output jumped 1.1 tion of oil and natural gas. nies might need to invest slowdown, a trade war 50 points to continued
percent last month, the Overall industrial produc- more in equipment and between the United States growth.q