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BUSINESSTuesday 24 January 2017
US stock indexes close slightly lower; oil prices slide
Trader Robert Charmak, center, and Peter Tuchman, right, work on the floor of the New York Stock “There was that huge rally meeting with busi-
Exchange, Monday, Jan. 23, 2017. Energy companies led U.S. stock indexes slightly lower Mon- postelection and things re- ness leaders, Trump repeat-
day as the price of crude oil fell. ally were running on opti- ed a campaign promise to
mism,” said Lisa Kopp, head cut regulations by at least
(AP Photo/Richard Drew) of traditional investments 75 percent. He also said
at U.S. Bank Wealth Man- there would be advantag-
ALEX VEIGA dividend stocks did better earnings and deal news. agement. “What you’re es to companies that make
AP Business Writer than the rest of the mar- They also had their eye on seeing now is people com- their products in the U.S.,
Energy companies led U.S. ket as bond yields headed Washington, where Presi- ing back to the idea that suggesting he will impose a
stock indexes slightly lower lower, making those sec- dent Donald Trump reaf- the policies aren’t exactly “substantial border tax” on
Monday as the price of tors more appealing to in- firmed plans to slash regu- clear ... and (Trump’s) abil- foreign goods entering the
crude oil fell. vestors seeking income. lations on businesses and ity to actually push every- country.
Real estate, phone com- Investors focused on the tax foreign goods entering thing through exactly the Trump also signed a mem-
panies and other high- latest batch of company the country. way he wants is uncertain.” orandum announcing the
The Dow Jones industrial United States’ intention to
average fell 27.40 points, withdraw from the multi-
or 0.1 percent, to 19,799.85. nation trade agreement
The Standard & Poor’s 500 known as the Trans-Pacific
index slid 6.11 points, or Partnership, and said he
0.3 percent, to 2,265.20. would renegotiate the
The Nasdaq composite in- North American Free Trade
dex lost 2.39 points, or 0.04 Agreement.
percent, to 5,552.94. The Companies that issued re-
Russell 2000, which tracks sults or outlooks that fell
smaller companies, gave short of Wall Street’s fore-
up 4.01 points, or 0.3 per- casts put traders in a selling
cent, to 1,347.84. mood.
The major stock indexes McDonald’s fell 0.7 per-
were down slightly early cent after the world’s big-
Monday and veered little gest hamburger chain
throughout the day as in- reported a fourth-quarter
vestors sized up company drop in sales at established
news and developments U.S. locations. The decline
out of Washington. snapped a streak of five
At an early White House quarters of increases. q
Yahoo’s 4Q shows modest strides amid security breach fallout
MICHAEL LIEDTKE The Securities and Ex-
change Commission has
AP Technology Writer opened an investigation
into whether Yahoo should
SAN FRANCISCO (AP) — have announced the se-
curity breaches sooner
Yahoo’s financial perfor- than it did, according to
a report in The Wall Street
mance improved slightly Journal that cited uniden-
tified people familiar with
during the fourth quarter the matter.
The SEC declined to com-
while the company dealt ment. Yahoo pointed to an
SEC filing in November that
with the fallout from mas- acknowledged the com-
pany is cooperating with
sive security breaches various government agen-
cies, including the SEC,
that have jeopardized the that are seeking informa-
tion and documents per-
$4.8 billion sale of its inter- taining to the breaches.
Verizon has been doing its
net operations to Verizon own review to determine
whether it should re-ne-
Communications. gotiate the sales price or
cancel the deal entirely on
The fourth-quarter report the premise that the news
of the security breaches
released Monday provid- will cause many people to
become leery of using Ya-
ed the latest snapshot of hoo’s email and other ser-
vices in the future. A down-
a shrinking company that turn in traffic could make it
more difficult for Verizon to
has been steadily losing sell ads.q
ground in the digital ad-
vertising market that gen-
erates most of its revenue.
Although cost-cutting
helped Yahoo bounce
back from a loss during the The logo of Yahoo appears on a smartphone in Frankfurt, Germany. Yahoo Inc. reported quarterly
financial results after the market closes, Monday, Jan. 23, 2017.
same time in the previous
(AP Photo/Michael Probst)
year, the company’s net
revenue slipped yet again
to extend a downturn that streak of four consecutive applications to Verizon. personal information from
But after striking the Verizon more than 1 billion user ac-
has lasted through most of quarters of double-digit de- deal, Yahoo revealed that counts. The break-ins oc-
it had been hit by two sep- curred in 2013 and 2014,
CEO Marissa Mayer’s four- clines. arate hacking attacks that raising further questions
stole the email addresses, about Yahoo’s security
and-half-year tenure. In a Yahoo’s long-running birth dates, answers to se- controls and the timing of
curity questions, and other its disclosures.
sign of modest progress, slump culminated in the
Yahoo’s revenue fell 4 per- company’s agreement last
cent after subtracting ad summer to sell its email ser-
commissions, snapping a vice, websites and mobile
