Page 25 - ARUBA TODAY

BUSINESS Thursday 23 March 2017
A25

Indexes inch back upward as tech stocks rise; Nike plunges

Trump’s agenda, such as Microsoft rose 82 cents,
tax cuts and increased in- or 1.3 percent, to $65.03
frastructure spending will while chipmaker Nvidia
be delayed. The Repub- added $2.16, or 2 percent,
lican-backed American to $108.07. The S&P 500’s
Health Care Act appeared technology index is up 11
to be in trouble ahead of percent in 2017, more than
a House of Representa- double the gain for the
tives vote on Thursday. broader S&P 500.
Terry Simpson, a multi-asset Bond prices rose. The yield
strategist for BlackRock, on the 10-year Treasury
says it’s noteworthy that note fell to 2.40 percent
even though the bill’s fate from 2.42 percent. Lower
is unclear, stocks didn’t fall bond yields mean lower
any further on Wednesday. interest rates, and those re-
“The market really wants duce the profits banks can
to believe in the new ad- make from lending.
ministration,” he said. But if Investors snapped up high-
the bill falters in the House dividend utilities and real
on Thursday or the Sen- estate investment trusts
ate later on, investors will as bond yields fell. Exelon
have “increased doubt in picked up 34 cents to
the ability to pass the pro- $36.30 and Consolidated
Takung Art Co., Ltd. CFO Leslie Chow, left, watches as a ceremonial gong is rung to mark the up- growth agenda.” Edison gained 77 cents, or
listing of his Hong Kong-based company on the floor of the New York Stock Exchange, Wednes- The Standard & Poor’s 1 percent, to $78.11. Utilities
day, March 22, 2017. 500 index picked up 4.43 are the best-performing
(AP Photo/Richard Drew) points, or 0.2 percent, to part of the S&P 500 over
2,348.45. Nike dragged the last month. Sears said
MARLEY JAY lower, then rallied around took its biggest one-day down the Dow Jones in- in a regulatory filing that
AP Markets Writer midday and wandered loss in five years as inves- dustrial average, which fell there is “substantial doubt”
NEW YORK (AP) — After between gains and losses tors were disappointed by 6.71 points to 20,661.30. The it will be able to remain
a shaky start, U.S. stocks for several hours before a its quarterly sales and out- Nasdaq composite rose in business. In recent years
finished mostly higher late-afternoon push. Tech- look, and 130-year-old re- 27.82 points, or 0.5 percent, the parent company of
Wednesday as technol- nology companies led the tailer Sears plunged after it to 5,821.64. The Russell 2000 Sears and Kmart has closed
ogy and industrial com- market, as they’ve done said it may not be able to index of smaller companies more than 2,000 stores and
panies rose. Banks fell with throughout this year. Gains stay in business. A day ago sank 0.95 points, or 0.1 per- slashed spending and jobs,
interest rates as the market for shipping company Fe- stocks dropped as Wall cent, to 1,345.60. and it has sold brands and
came off its biggest loss in dEx helped take industrial Street wondered if key as- Apple gained $1.58, or 1.1 split off its real estate assets
five months. Stocks started companies upward. Nike pects of President Donald percent, to $141.42 and to raise cash.q
Starbucks CEO stands by pledge to hire refugees

CANDICE CHOI ily banning refugees from Starbucks to make good where, it is appealing to ev- office himself.
AP Food Industry Writer seven Muslim majority na- on its commitment to us- erybody,” she said. Since he returned as chief
NEW YORK (AP) — Star- tions, and had prompted ing recyclable cups, while Schultz, a Democrat, had executive in 2008, the com-
bucks CEO Howard Schultz some calls for a boycott of employees called for the endorsed Hillary Clinton pany has expanded its
presided over his last an- Starbucks. same parental leave ben- for president last year, and footprint globally and seen
nual shareholder meeting “This is not about politics,” efits as managers. didn’t rule out running for sales growth at home.q
as head of the company said Schultz. He said the “I think my baby is just as
Wednesday by standing by company’s decisions were important as the corporate
its pledge to hire refugees based on “humanity and office babies,” said Kris-
and expanding on previ- compassion” and there ten Picciolo, a 22-year-old
ously announced goals to was “absolutely no evi- Starbucks employee from
hire veterans and at-risk dence whatsoever” that Ohio who was at the meet-
youth. Starbucks has suffered as ing in Seattle. Picciolo said
The moves underscored the a result. Under Schultz, the she believes the company
progressive image Schultz company has waded into is starting to “hear what
has helped cultivate for sometimes-heated sub- we’re saying.”
Starbucks as he prepares jects, such as when it had It’s not clear what impact
to cede the CEO job next baristas write “Race To- Starbucks’ decision on so-
month to Starbucks Presi- gether” on cups amid pro- cial issues have had on
dent Kevin Johnson. tests over police shootings sales. Laura Ries, president
Schultz, who will remain ex- of unarmed black men. of a marketing firm, said
ecutive chairman, defend- Those kinds of moves were it’s risky for big brands to
ed the promise on refugees seen by opportunistic by take positions on divisive is-
to a shareholder who criti- some, but kept the compa- sues that could potentially
cized his willingness to have ny in the spotlight and won alienate half their custom-
the company’s reputation praise among others. Its im- ers, particularly on issues
“take a beating” over it. age has helped make it a that are not relevant to the
The pledge came after focus of criticism, and pro- company.
President Donald Trump’s testers outside the share- “Starbucks is like McDon-
executive order temporar- holder meeting called on ald’s these days. It’s every-