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BUSINESS Saturday 25 February 2017
A25

US stocks eke out last-minute gain as utilities rise

since just after the presi- commercial tech gear to
dential election, though it’s big organizations, slumped
down sharply from last sum- after it cut its profit esti-
mer. Silver added 22 cents, mate for the year. Its busi-
or 1.2 percent, to $18.34 an ness was hurt by the strong
ounce and copper picked dollar, expenses, and other
up 4 cents, or 1.4 percent, problems that it said will
to $2.70 a pound after a be “near-term.” HP En-
steep loss the previous day. terprise’s quarterly sales
Benchmark U.S. crude oil dropped 10 percent and
fell 46 cents to $53.99 a weren’t as strong as ana-
barrel in New York. Brent lysts hoped. Its stock skid-
crude, the standard for ded $1.70, or 6.9 percent,
pricing international oils, to $22.96.q
fell 59 cents, or 1 percent,
to $55.99 a barrel in Lon-
don.
Energy companies con-
tinued to trade lower.
They’ve fallen sharply over
the last month. The S&P 500
energy company index is
down about 7 percent this
Trader Craig Spector, center, works in a crowd on the floor of the New York Stock Exchange. A late year while the broader S&P
push helped U.S. stocks finish higher Friday after indexes spent most of the day lower. 500 is up almost 6 percent.
(AP Photo/Richard Drew) Nordstrom jumped after
MARLEY JAY it will take that package The yield on the 10-year it disclosed a better-than-
AP Markets Writer to pass,” said Lucas. “The Treasury note slid to 2.32 expected quarterly profit
NEW YORK (AP) — A late markets don’t like all of this percent from 2.39 percent. with help from strong sales
push helped U.S. stocks uncertainty.” Investment banks and in- online and at Nordstrom
finish higher Friday after The Dow fell as much as surers traded lower as well. Rack. Its shares gained
indexes spent most of the 76 points during the day Investors bought utility $2.52, or 5.7 percent, to
day lower. There was far but recovered to gain stocks and phone compa- $46.46. Kohl’s also rose
more selling than buying 11.44 points, or just under ny stocks, which pay large $2.08, or 5.1 percent, to
on Wall Street overall, but 0.1 percent, to 20,821.76. dividends similar to bonds. $42.99. That helped con-
the Dow Jones industrial The Standard & Poor’s 500 Exelon gained $1.20, or sumer-focused companies
average managed to ex- index rose 3.53 points, or 3.3 percent, to $37.18 and climb higher.
tend its winning streak to 0.1 percent, to 2,367.34. NextEra Energy rose $2.77, Hewlett Packard Enter-
an 11th day. Both indexes are at all-time or 2.2 percent, to $130.96. prise, which sells data-cen-
Energy companies and highs. The Nasdaq com- AT&T picked up 41 cents, ter hardware and other
banks struggled. Investors posite rose 9.80 points, or or 1 percent, to $42.36.
continued to buy safer 0.2 percent, to 5,845.31. The Gold and silver continued
assets like government Russell 2000 index, which to rise. Gold picked up
bonds, gold, and stocks tracks smaller companies, $6.90, or 0.6 percent, to
that pay large dividends, slid 0.1 points to 1,394.52. $1,258.30 an ounce. Gold is
such as utility and tele- Bond prices sank again. trading at its highest price
phone companies. That’s
been a familiar pattern
over the last few days.
After a long string of gains
earlier in February, stocks
wobbled this week and
bond prices jumped, which
sent yields down. That hurts TIME SHARE BY OWNER
banks by forcing rates on DIVI ARUBA PHOENIX
mortgages and other kinds 1 bedroom unit 706
of loans lower. Sunset Views
Strategist Jerry Lucas of Week 6 (24 yearS LeFt)
UBS Wealth Management $15,000 uSd
said a number of factors Call: 1-760-825-9112
weighed on stocks Friday. email:
That includes political richardcraddock@verizon.net
considerations in the U.S., _________________________________206784
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