Page 25 - ARUBA TODAY

BUSINESS Tuesday 2 OcTOber 2018
A25

Stocks rise on Wall Street after US, Canada seal trade deal

By MARLEY JAY
Associated Press
NEW YORK (AP) — U.S.
manufacturers and car
companies are rising Mon-
day, helping send stocks
solidly higher after the U.S.
and Canada agreed to a
new trade deal that also
includes Mexico. U.S. crude
oil reached its highest price
in almost four years.
General Electric is surging
after it replaced Chairman
and CEO John Flannery,
who led the company for a
little more than a year. Tesla
is jumping after company
founder Elon Musk agreed
to a settlement with regu-
lators that will allow him to
remain CEO of the electric
car maker.
KEEPING SCORE: The S&P
500 index climbed 15
points, or 0.5 percent, to
2,929 as of 1:25 p.m. East-
ern time. The Dow Jones
Industrial Average jumped
213 points, or 0.8 percent,
to 26,672. The Nasdaq
composite rose 21 points,
or 0.3 percent, to 8,067.
Mexico's main stock index
rose 0.8 percent and while In this June 24, 2016, file photo, people walk by the New York Stock Exchange.
Canada's added 0.1 per- Associated Press
cent.
The Russell 2000 index of of companies in numerous was flawed, which forced Musk and Tesla are each azon rose 0.9 percent to
smaller-company stocks industries. Dairy producer the shutdown of two pow- paying $20 million to re- $2,021.61.
fell 12 points, or 0.8 per- Dean Foods gained 1.2 er plants. On Monday GE solve the lawsuit. BONDS: Bond prices fell.
cent, to 1,683 as investors percent to $7.19. General said it is taking a $23 billion ENERGY: Benchmark U.S. The yield on the 10-year
continued to move away Motors added 1.2 percent charge related to its power crude climbed 2.3 per- Treasury note rose to 3.07
from smaller and more U.S.- to $34.08 and Ford climbed business and will miss its an- cent to $74.92 a barrel in percent from 3.05 percent.
focused companies. The 1.5 percent to $9.39. nual profit target. New York and is on track CURRENCIES: The dollar rose
Russell is down 3.3 percent Industrial companies also Flannery will be replaced for its highest closing price to 113.99 yen from 113.58
since its most recent record advanced. Honeywell rose by H. Lawrence Culp, the since November 2014. yen. The euro dipped to
close at the end of August. 1.4 percent to $166.87 and CEO of industrial and medi- Brent crude, used to price $1.1579 from $1.1610. The
AFTER NAFTA: The new Boeing advanced 2.8 per- cal device company Dan- international oils, added Canadian dollar fell to
trade deal, dubbed the cent to $382.39. Among aher from 2000 to 2014. GE 1.9 percent to $84.29 per 1.2793 from 1.2922.
United States-Mexico-Can- materials companies, stock jumped 9.5 percent barrel in London. It's also OVERSEAS: Germany's DAX
ada Agreement, gives U.S. DowDuPont added 1.2 per- to $12.36. traded at four-year highs added 0.8 percent while
farmers greater access to cent to $65.07 ELON'S NOT GONE: Tesla recently. GASES RISING: the CAC 40 in France ad-
the Canadian dairy mar- GE CEO O-U-T: Flannery gained 16.2 percent to German conglomerate vanced 0.2 percent. Brit-
ket. But it keeps a NAFTA took over GE from Jeffrey $307.60 after Musk agreed Linde rose 0.5 percent and ain's FTSE 100 fell 0.2 per-
dispute-resolution process Immelt in 2017 and tried to give up the chairman's industrial gas company cent. After a sharp drop
that the U.S. wanted to to return the company to role for at least three years, Praxair jumped 4.9 percent Friday, Italy's FTSE MIB lost
eliminate and offers Can- its industrial roots by fo- while Tesla will appoint two to $168.53 after Linde said another 0.5 percent as the
ada protection if the U.S. cusing on aviation, health new, independent direc- Chinese regulators ap- country's finance minister
goes ahead with plans to care and power. Investors tors to its board. The stock proved the merger of the tried to reassure other Eu-
impose tariffs on cars, trucks weren't sure if those chang- plunged 14 percent Friday two companies. Regulators ropean nations about the
and auto parts imported es were radical enough, as after the Securities and Ex- in the U.S. and Europe have new government's plan to
into the United States. some thought the compa- change Commission said not yet cleared the deal. increase its spending. The
Mexico and the U.S. an- ny should split up. Musk misled investors in Au- LEADERS LEAP: The mar- index has fallen 16 percent
nounced a trade agree- The company has had sev- gust with a tweet saying he ket's recent leaders contin- in the last five months.
ment in late August and eral big missteps. In June had secured the funding to ued to rise. That included Japan's benchmark Nik-
experts expected Canada GE said it would pay $15 bil- take Tesla private. technology companies, as kei 225 gained 0.5 percent
would eventually join the lion to make up for miscal- In a court filing, the SEC Apple jumped 0.9 percent and South Korea's Kospi
pact, as Canada is the culations by an insurance said it wanted to bar Musk to $227.88. Insurer United- gave up 0.2 percent. Mar-
U.S.' second-largest trade division, and in September, from serving as an officer or Health gained 1.2 percent kets in Hong Kong and the
partner and a deal with- the stock fell to a nine-year director of a publicly trad- to $269.34 as health care Chinese mainland were
out Canada would have low after the company said ed company and called companies climbed as closed for National Day
affected the supply lines its marquee gas turbine his actions securities fraud. well. Among retailers, Am- holidays.q