Page 24 - ARUBA TODAY

Wednesday 24 May 2017 BUSINESS
A24

Stocks claw back more lost ground with 4th straight gain

MARLEY JAY BB&T, which rose 63 cents,
AP Markets Writer or 1.5 percent, to $43.03.
NEW YORK (AP) — U.S. Sales of new homes fell 11
stocks rose for the fourth percent in April from the
day in a row Tuesday as month before, the biggest
they continued to recover drop in more than two
the ground they lost last years. Sales had reached
week. Major indexes ap- a nine-year high in March,
proached record highs and experts said the de-
again. cline was most likely a
Most of the gains went to blip. Homebuilder NVR fell
banks, which surged as $61.27, or 2.6 percent, to
bond yields jumped. That $2,296 and D.R. Horton lost
will allow them to charge 54 cents, or 1.6 percent, to
higher rates on loans. $33.37. Home improvement
Banks took steep losses last retailer Lowe’s lost $1.71, or
Wednesday, when stocks 2 percent, to $82.34 and
had their worst day since Home Depot also slipped.
September. Scientific in- Benchmark U.S. crude oil
strument companies and added 34 cents to $51.47
drugmakers also rose. How- a barrel in New York. Brent
ever auto parts companies crude, used to price inter-
were hammered after poor national oils, picked up 28
third-quarter results from cents to $54.15 a barrel in
AutoZone and home build- London.
ers fell after sales of new Wholesale gasoline re-
homes sank in April. Specialist Anthony Rinaldi, left, works with traders Robert Arciero, center, and James Conti at his mained at $1.66 a gallon
The four-day rally has re- post on the floor of the New York Stock Exchange, Tuesday, May 23, 2017. and heating oil finished
stored most of the mar- Associated Press where it started, at $1.61
ket’s losses and the Stan- a gallon. Natural gas sank
dard & Poor’s 500 index the political arena. composite rose 5.09 points, The yield on the 10-year 11 cents, or 3.3 percent, to
is almost back to record The S&P 500 added 4.40 or 0.1 percent, to 6,138.71. Treasury note rose to 2.28 $3.22 per 1,000 cubic feet.
highs. points, or 0.2 percent, to The Russell 2000 index of percent from 2.25 percent. Gold fell $5.90 to $1,255.50
Peterson says high stock 2,398.42. The Dow Jones in- small-company stocks That helped bank stocks an ounce. Silver lost 5 cents
prices and the calm mar- dustrial average edged up gained 3.84 points, or 0.3 like JPMorgan Chase, to $17.14 an ounce. Cop-
ket makes stocks more vul- 43.08 points, or 0.2 percent, percent, to 1,380.98. which gained $1.06, or 1.3 per remained at $2.60 a
nerable to surprises from to 20,937.91. The Nasdaq Bond prices turned lower. percent, to $85.76 and pound.q