Page 25 - ARUBA TODAY 1 MAART, 2017

BUSINESS Wednesday 1 March 2017
A25

Stocks edge lower, breaking a 12-day win streak for the Dow

year Treasury yield rose to made some investors ner- including disappointing
2.39 percent from 2.37 per- vous. guidance for 2017 and the
cent late Monday. “(The market) has priced company’s decision to sell
Trump was scheduled to in all the positive aspects its royalty rights to a mul-
deliver his first speech to of some of his campaign tiple sclerosis drug for as
a joint session of Congress promises, but what it hasn’t much as $2.85 billion. Per-
Tuesday evening. On Mon- done is price in the nega- rigo said the sale will hurt
day the president told a tives that could result from its earnings, but noted it
group of governors that health care, trade poli- plans to use the proceeds
his budget would propose cies, border taxes, things to pay down some of its
increasing defense spend- like that which are a little debts. The stock slid $9.91
ing by $54 billion while cut- bit less clear,” said Lindsey to $74.77.
ting domestic programs Bell, investment strategist Improved earnings and
and foreign aid by the at CFRA Research. outlooks gave weight loss
same amount. He also Traders weren’t entirely fo- company Nutrisystem a
said “We’re going to start cused on Washington on big boost. The stock vault-
spending on infrastructure Tuesday. They continued to ed $7.30, or 18.6 percent,
Specialist Gregg Maloney works at his post on the floor of the
New York Stock Exchange. A slide led by Target and other big big.” size up the latest company to $46.50.
retailers pulled U.S. stock indexes lower Tuesday, snapping a Since the election in No- earnings and outlooks. Shares in Priceline climbed
12-day winning streak for the Dow Jones industrial average. vember, expectations of Target plunged 12.2 per- 5.6 percent after the online
(AP Photo/Richard Drew) tax reform, deregulation cent after the retail chain’s booking company posted
ALEX VEIGA ing to be very much driven and ramped up spending latest quarterly profit fell strong quarterly earnings.
AP Business Writer by the ability of the admin- on defense and infrastruc- short of Wall Street’s fore- The stock gained $92.12 to
A slide led by Target and istration to start putting into ture projects has pushed casts. The company also $1,724.13.q
other big retailers pulled action some of the things the stock market higher. issued a weak outlook.
U.S. stock indexes lower that the market has gotten Investors are looking for The stock was lost $8.14 to
Tuesday, snapping a 12- excited about, mainly tax more clarity on business- $58.77.
day winning streak for the reform more than anything friendly policies, but also Perrigo slumped 11.7 per-
Dow Jones industrial aver- else,” said Rob Eschweiler, on trade, immigration and cent after investors react-
age. global investment special- other Trump administration ed to several disclosures
Industrial stocks and phone ist at J.P. Morgan Private policy initiatives that have by the Irish drugmaker,
companies were also Bank.
among the big decliners. The Dow fell 25.20 points, or
Energy companies fell as 0.1 percent, to 20,812.24.
crude oil prices edged low- The Standard & Poor’s 500
er. Utilities stocks eked out index slid 6.11 points, or 0.3
a gain. percent, to 2,363.64. The FOR - RENT
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WASHINGTON (AP) — U.S. business group.Americans on island until 3/22 obo
e-mail: don310@netscape.net
consumer confidence have been in a sunny mood _________________________________207121
climbed to the highest lev- since the Nov. 8 election Time Share Resale
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good news for the econo- divisive presidential cam- 1Br deluxe WK 2/17 $12k
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sumer confidence index repeal of President Barack Optional all inclusive
rose to 114.8 in February Obama’s health care law. call:(297) 630-1307
from 111.6 in January and The stock market has also johnnypaesch@gmail.com
the highest since July 2001. surged since the election. _______________________________________
The index measures both The Dow Jones industrial Time Share Resale
consumers’ assessment of average closed Monday at Divi Links Golf
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Franco, director of eco- q _______________________________________