Page 11 - BNK DEC 21

Wednesday 21 december BUSINESS
A24

Euro slips further toward one-to-one with dollar

DAVID McHUGH The euro, used by 19 coun- A major factor has been thorities — meaning the Fawad Razaqzada, market
AP Business Writer tries, was down 0.1 percent the prospect of more inter- European Central Bank in analyst at Forex.com, said
FRANKFURT, Germany (AP) at $1.0390 late-afternoon est rate hikes by the U.S. Frankfurt — have widened that the disparity between
— The dollar’s upward Tuesday, having earlier Federal Reserve following a the rate gap further by U.S. and European central
march has sent the euro fallen to $1.0352, its lowest quarter-point increase in its extending stimulus efforts bank policies was the “driv-
currency to its lowest level level since early 2003. benchmark rate last week. aimed at pushing mar- ing force” behind the eu-
in 14 years, easing the fi- Over recent days, the eu- Higher interest rates in the ket rates down. The ECB’s ro’s slide toward so-called
nancial pressure on trav- ro’s descent to the psycho- U.S. increase returns on dol- benchmark remains at a parity. He said the ex-
eling Americans but giv- logically important level of lar investments and spur record low of zero com- change rate could reach
ing European exporters a one euro per dollar, has ac- demand for the currency. pared with the Fed’s range parity “possibly before the
boost. celerated. European monetary au- of 0.5-0.75 percent. year is out. ” q
Banks and travel stocks rise as Dow inches close to 20,000

MARLEY JAY the presidential election
AP Markets Writer and the Dow has risen al-
NEW YORK (AP) — Big gains most 1,000 points in under
for banks and companies a month, and some inves-
focused on travel helped tors think that means stocks
propel U.S. stock indexes won’t move much in 2017.
to record levels on Tues- “We’re at fair value,” said
day. The Dow Jones indus- Scott Wren, a senior glob-
trial average moved closer al equity strategist at the
than ever to 20,000, but Wells Fargo Investment In-
the symbolic threshold re- stitute. The Dow gained
mained just out of reach. 91.56 points, or 0.4 per-
Banks once again led the cent, to a record close at
way Tuesday as bond yields 19,974.62. The Standard &
and interest rates bounced Poor’s 500 index picked up
higher. Strong earnings 8.23 points, or 0.4 percent,
from cruise line opera- to 2,270.76. The Nasdaq
tor Carnival and gains for composite also finished at
a record as it added 26.50
travel website TripAdvisor points, or 0.5 percent, to
led consumer companies 5,483.94. The Russell 2000
higher. Household goods index of small-company
makers fell after Cheerios stocks jumped 12.27 points,
maker General Mills cut or 0.9 percent, to 1,383.96.
its sales projections for the Bond prices reversed A stock trader follows stock information on electronic screens at the New York Stock Exchange,
Tuesday, Dec. 20, 2016, in New York. Big gains for banks and companies focused on travel helped
year, and energy compa- course and fell after climb- propel U.S. stock indexes to record levels on Tuesday.
nies fell for the second day ing higher Monday. The (AP Photo/Mark Lennihan)
in a row. That hadn’t hap- yield on the 10-year Trea-
pened three weeks. The sury note rose to 2.56 per- rates, which let them make Cruise line operator Car- year. It said both ticket
Dow came within 13 points cent from 2.54 percent. more money from lend- nival reported profit and sales and prices are up.
of the 20,000 mark around Bond yields have risen ing. Regions Financial rose sales that were stronger Carnival stock rose $1.17, or
10 a.m. Trading remained sharply of late, and that’s 30 cents, or 2.1 percent, than expected. The com- 2.3 percent, to $52.49 and
light as the Christmas holi- good for banks because to $14.58 and Citigroup pany said bookings for trips competitor Royal Carib-
day approached. higher bond yields are gained $1.14, or 1.9 per- in 2017 are stronger than bean gained $2.85, or 3.4
Stocks have soared since linked to higher interest cent, to $60.80. they were at this time last percent, to $85.40. q
Disney among 6 retailers to

stop on-call shift scheduling

WHY WE CREATED ALBANY, N.Y. (AP) — Dis- says the retailer started
LOCK N ROLL
TIMESHARE STORAGE? ney and Aeropostale are phasing out on-call sched-
Because many guest expressed among six retailers that uling in July 2015.
an interest in having storage space have agreed to stop using Rounding out the six com-
available for their personal on-call scheduling follow- panies are Carter’s, David’s
belongings. ing an inquiry by nine attor- Tea, PacSun and Zumiez.
• As low as $6.50 per month. neys general. They’re among 15 retailers
• Pricing includes pickup and New York Attorney Gener- who received a joint letter
delivery al Eric Schneiderman says from the attorneys general.
• Saves you time and money, about 50,000 workers na-
year after year tionwide will benefit. The other nine companies
• Avoid extra luggage fees On-call scheduling requires — American Eagle, Payless,
• Affordable storage pricing Coach, Forever 21, Vans,
• Convenience & peace of mind. employees to call before a Justice Just for Girls, BCBG
For more information: scheduled shift to find out if Maxazria, Tilly’s Inc. and
Call :297-5684393 they have to work that day. Uniqlo — say they don’t use
Visit our web page : It affects workers who must on-call scheduling or have
locknrollarubastoragetimeshare.simplesite.com arrange child care.
https://www.facebook.com/l1cknroll A Disney spokeswoman recently ended it.q