Page 13 - UTILTIES 12 APRIL 2017

Wednesday 12 april 2017 BUSINESS
A24

US stock indexes end little changed; oil price recovers

0.03 percent, to 20,651.30. civil war.
The Nasdaq composite in- Wall Street’s so-called “fear
dex slid 14.15 points, or 0.2 index,” known as the VIX,
percent, to 5,866.77. surged 7.3 percent to its
Small-company stocks highest level since Novem-
bucked the downward ber. Government bonds
trend. The Russell 2000 in- also reflected growing un-
dex rose 9.86 points, or 0.7 ease among investors. The
percent, to 1,376.95. Rising yield on the benchmark
stocks outnumbered de- U.S. 10-year note fell to 2.30
clining ones on the New percent from 2.36 percent
York Stock Exchange. late Monday. As bond pric-
Major indexes started off in es rise, yields drop.
the red early Tuesday and And gold, often sought out
held their course the rest by investors in times of glob-
of the day as traders moni- al uncertainty, rose $20.30,
tored the latest headlines or 1.6 percent, to $1,274.20
on North Korea and Russia- an ounce. “One of our pre-
U.S. relations. North Korea dictions this year is we’re
said there could be “cata- going to have higher vola-
strophic consequences” tility,” said Bob Doll, chief
after the U.S. ordered the equity strategist at Nuveen
USS Carl Vinson aircraft car- Asset Management. “It’s to
Trader Anthony Riccio, left, and specialist Dilip Patel work on the floor of the New York Stock Ex- rier and its battle group to be expected with all the
change. The major U.S. stock indexes barely budged Tuesday on another day of mostly light trad- waters off the Korean Pen- economic uncertainties, all
ing ahead of the Easter holiday weekend.
(AP Photo/Richard Drew) insula. Nerves were already the geopolitical uncertain-
on edge with U.S.-South ties.” A dash of favorable
ALEX VEIGA estate companies notched tle bit nervous to add on to Korea war games under- economic news failed to lift
AP Business Writer the biggest gains. Oil prices their positions,” said JJ Kina- way, following recent bal- the market. The Labor De-
The major U.S. stock indexes recovered after an early han, chief market strategist listic missile launches by partment reported that job
barely budged Tuesday on slide. Bond yields fell and at TD Ameritrade. the North that have rattled openings rose 2.1 percent
another day of mostly light the price of gold rose as in- The Standard & Poor’s 500 neighboring countries. in February to a seasonally
trading ahead of the Easter vestors kept an eye on ris- index fell 3.38 points, or 0.1 Meanwhile, U.S. Secretary adjusted 5.7 million. Job
holiday weekend. ing geopolitical tensions. percent, to 2,353.78. The of State Rex Tillerson was in openings have increased
Technology stocks de- “Heading into the holiday Dow Jones industrial aver- Moscow to meet with Rus- 3.2 percent over the past
clined the most, while real weekend, people are a lit- age slipped 6.72 points, or sian officials about the Syria 12 months. q

Gas prices will rise this summer but should remain low

MARLEY JAY Administration on Tuesday did in the middle of 2014. ing firm GasBuddy. lieves the average price of
AP Markets Writer forecast that retail gas will Prices tumbled after that Gas prices rise over the gas will rise to $2.39 a gal-
NEW YORK (AP) — You cost an average of $2.46 because of a huge supply summer as more people lon this year, from $2.15 a
didn’t think those super-low a gallon from April through glut. hit the road to take advan- gallon in 2016.
gas prices would last forev- September, up from $2.23 “Motorists have gotten tage of the warmer weath- If that holds, the aver-
er, did you? a gallon over the summer used to gas prices under er and school breaks. And age U.S. household would
The U.S. government says a of 2016. $3 a gallon and that will while gas prices can vary a spend about $200 more on
rebound in oil prices means The price of crude oil has continue,” says Patrick De- great deal depending on gasoline than it did in 2016,
drivers will be paying more risen about 15 percent Haan, senior petroleum an- geography and other fac- the EIA said. q
at the pump this summer over the last year, although alyst for the gas price track- tors, the agency says it be-
than last year. at $53 a barrel, oil still costs
The Energy Information about half as much as it