Page 25 - ARUBA TODAY

BUSINESS Tuesday 7 February 2017
A25

US stocks close lower on crude price decline

ALEX VEIGA posite index gave up 3.21 girls, including Disney Prin-
AP Business Writer points, or 0.1 percent, to cess and Frozen products.
(AP) - Energy companies 5,663.55. On Friday the The stock led all the gain-
led U.S. stocks slightly low- Nasdaq closed at a record ers in the S&P 500, climbing
er Monday as the price of high and the S&P 500 came $11.68 to $94.31. Rival Mat-
crude oil declined, snap- within a point of its own all- tel also got a lift, adding 10
ping a three-day winning time high. The major stock cents to $25.92.
streak for the Standard & indexes were headed low- Tyson Foods fell 3.5 per-
Poor’s 500 index. er from the start of trading cent after the company
Phone company and real Monday. They drifted a bit disclosed in a quarterly fil-
estate stocks were also early on, but remained in ing that it has received a
among the big decliners. the red most of the day. subpoena from the Securi-
Technology and industrial Disappointing results and ties and Exchange Com-
companies eked out tiny outlooks from several com- mission as part of an anti-

Trader John Panin, center, works on the floor of the New York Stock Exchange. Energy companies
led U.S. stocks slightly lower Monday as the price of crude oil declined, snapping a three-day
winning streak for the Standard & Poor’s 500 index.
(AP Photo/Richard Drew)
gains. panies put traders in a sell- trust probe. The stock shed
Investors are continuing to ing mood. $2.26 to $63.13.
focus on company earn- Newell Brands slid 5.7 per- News of an executive
ings reports this week as cent after the maker of shake-up at Tiffany & Co.
they size up the health of Rubbermaid, Sharpie, El- sent shares in the jewelry
Corporate America. mer’s Glue and other company lower.
With just over half of all the products reported disap- CEO Frederic Cumenal
companies in the S&P 500 pointing sales and issued a had stepped down on Sun-
having reported quarterly full-year sales forecast that day amid concerns about
results, most have posted fell far short of analysts’ the company’s financial
annual earnings growth. estimates. The company performance. Tiffany said
But that hasn’t been said the strong dollar and it had already begun to
enough to significantly fewer people shopping at search for a successor. Mi-
move the stock market, malls hurt sales of some key chael Kowalski, chairman
which remains at near-re- products. The stock gave of the board of directors
cord levels. up $2.66 to $44.23. and previous CEO of Tif-
“A lot of this earnings Sysco fell 2.6 percent after fany, was tapped to serve
growth we’re seeing now is the food distributor report- as interim CEO. Tiffany shed
already priced in,” said Da- ed better earnings, but its $1.98, or 2.5 percent, to
vid Schiegoleit, managing revenue was weaker than $78.49.
director at the Private Cli- expected. The stock lost Energy futures were broad-
ent Reserve at U.S. Bank. “It $1.34 to $51.20. ly lower, weighing on oil
would have to extend fur- Few companies got a big- and gas companies.
ther in order to push mar- ger lift from earnings news Benchmark U.S. crude fell
kets higher.” than Hasbro. 82 cents, or 1.5 percent,
The Dow Jones industrial The toymaker vaulted 14.1 to close at $53.01 a barrel
average fell 19.04 points, percent after it posted in New York. Brent crude,
or 0.1 percent, to 20,052.42. fourth-quarter profit and used to price international
The S&P 500 index slid 4.86 sales that beat Wall Street’s oils, lost $1.09, or 1.9 per-
points, or 0.2 percent, to estimates, aided by better cent, to $55.72 a barrel in
2,292.56. The Nasdaq com- sales of toys marketed to London.q