Page 25 - ARUBA TODAY

BUSINESS Tuesday 19 March 2019
A25

Energy companies lead US stock indexes slightly higher

By STAN CHOE FED WATCH: The Fed be-
ALEX VEIGA gins a two-day meeting on
Associated Press rates Tuesday, and most in-
U.S. stock indexes edged vestors are expecting very
higher in afternoon trad- little to come out of it.
ing Monday, riding the mo- Investors were relieved
mentum from a solid rally when the central bank
last week. pledged early this year to
Energy stocks led the gain- take a patient approach.
ers as crude oil prices Some economists say the
climbed. Financial and Fed could release docu-
consumer goods stocks ments Wednesday that
also helped lift the market. would suggest one rate in-
Those gains outweighed crease in 2019, or possibly
losses in communications zero, after the Fed raised
and health care sector rates four times in 2018 and
companies. Stocks are three times in 2017.
coming off a strong week, Perhaps more important is
when the S&P 500 re- what the Fed says about its
sumed its torrid start to the vast trove of Treasurys. The
year following a brief, five- central bank bought tril-
day stumble. The index is In this March 12, 2019, file photo, trader Michael Milano works on the floor of the New York Stock lions of dollars of Treasurys
back to within 3.7 percent Exchange. after the 2008 financial cri-
of its record high, set in Associated Press sis to keep interest rates low
September, after clawing harmful effects for global headed higher, on track to listed shares jumped 9.8 and support markets, but
back all of its terrifying drop trade. The Bank of England settle above $59 per barrel percent. Fidelity National it’s been slowly letting some
from December. One key will announce its decision for the first time since No- Information Services, also roll off as they mature. In-
to the recent rally has been on interest rates later this vember. The price of natu- called FIS, slipped 0.7 per- vestors want to know how
the belief that the Federal week as well. ral gas also strengthened, cent. much in Treasurys the Fed
Reserve will slow its pace KEEPING SCORE: The which helped lift shares HEALTHY GAINS: Edwards will ultimately hold onto,
of increases for interest S&P 500 rose 0.2 per- across the energy sector. Lifesciences vaulted 6.6 and how long it will take to
rates. The worry in Decem- cent as of 1:28 p.m. Eastern National Oilwell Varco percent for the biggest get there.
ber was that the central time. It’s up 12.8 percent jumped 6.7 percent, Halli- gain in the S&P 500 af- SEARCHING FOR SINO
bank would raise rates too for 2019 so far, which is a burton gained 3.4 percent ter it said patients in a trial SIGNS: Investors are still
fast in the face of a slow- bigger gain than it’s had in and Marathon Petroleum using an expandable valve waiting for more progress in
ing global economy and four of the last five full years. rose 2.5 percent. had better results than the trade dispute between
choke off growth. The Fed The Nasdaq composite PAY ME NOW: As more those who had standard the world’s two largest
will meet to discuss interest- edged up 0.1 percent and transactions move online, open-heart surgery. economies.
rate policy this week, with the Russell 2000 index of the payment processing STILL GROUNDED: Boeing China’s congress on Friday
an announcement sched- smaller company stocks industry continues to con- fell further as the investi- endorsed an investment
uled for Wednesday, but added 0.3 percent. solidate. Fidelity National gation continues into two law that aims to address
economists expect it to The Dow Jones Industrial Information Services said recent deadly crashes of complaints, particularly
announce no change to Average was essentially Monday it will buy World- its 737 Max 8 plane mod- from the U.S., that China’s
rates. Politicians in London, flat, up 11 points, or less pay for about $35 billion in el. Preliminary information system is rigged against for-
meanwhile, continued to than 0.1 percent, at 25,860. stock and cash. Including shows clear similarities be- eign companies. The U.S.
haggle about the United Major stock indexes in Eu- Worldpay’s debt, Fidelity tween the two. claims China forces com-
Kingdom’s pending de- rope were mostly higher. National Information Ser- Boeing declined 2.4 per- panies to share technology
parture from the European SPURTING HIGHER: Bench- vices valued the dal at cent, following its 10.3 per- in order to do business in
Union, which could have mark U.S. crude oil was $43 billion. Worldpay’s U.S.- cent loss last week. the country.q