Page 25 - ARUBA TODAY

BUSINESS Wednesday 5 april 2017
A25

Stocks tread water as energy companies rise and banks fall

4.4 percent, to $43.77. But 79 cents, or 1.6 percent, to
their online nemesis Ama- $51.03 per barrel in New
zon gained $15.32, or 1.7 York.
percent, to $906.83. Ama- Brent crude, used to price
zon stock is up 21 percent international oils, added
this year. $1.05, or 2 percent, to
Handbag and accesso- $54.17 a barrel in London.
ries maker Kate Spade Anadarko Petroleum add-
slumped after Reuters said ed 92 cents, or 1.5 percent,
the company will take to $62.71.
more time to negotiate a The price of natural gas
possible sale. jumped 4.6 percent to
The report cited anony- $3.27 per 1,000 cubic feet,
mous sources and said that and Southwestern Energy
if Kate Spade is sold to a climbed 70 cents, or 8.9
buyer like Michael Kors or percent, to $8.59 while
Coach, it will likely be for Range Resources gained
less than the company’s $1.19, or 4.2 percent, to
recent valuation of $2.9 bil- $29.76. Wholesale gasoline
lion. Kate Spade sank $3.34, rose 3 cents to $1.72 a gal-
or 14.6 percent, to $19.46. lon and heating oil added
Peabody Energy Corp. President & CEO Glenn Kellow, second from right, is applauded as he
rings the New York Stock Exchange opening bell, Tuesday, April 4, 2017. The nation’s largest coal Benchmark U.S. crude rose 3 cents to $1.59 a gallon.q
producer, Peabody Energy Corp., said Monday that it has emerged from bankruptcy protection
after a year. The St. Louis company said it reduced costs and slashed its debt load by more than
$5 billion in the past year.
(AP Photo/Richard Drew)
MARLEY JAY sales of other goods. lost 1.49 points, or 0.1 per-
AP Markets Writer Eric Wiegand, senior portfo- cent, to 1,368.18.
NEW YORK (AP) — U.S. lio manager at U.S. Bank’s This week investors will
stocks hardly moved Tues- Private Client Reserve, pore over reports on the
day as investors were slow said consumers are very U.S. economy, including
to dip a toe back into the confident in the economy the monthly jobs report on
market, although energy according to surveys, but Friday. Trade agreements
companies did climb with considering high levels of will be in focus as President
the price of oil and natu- employment and hiring, Donald Trump and Chinese
ral gas. Banks and retailers they’re not spending that President Xi Jinping meet
took losses. much. Thursday and Friday.
Stock indexes flickered be- “We would like to see that Ralph Lauren dropped
tween tiny gains and losses confidence reflected in $3.63, or 4.5 percent, to
throughout the day before their actual consumption $77.73 after it said it will
they mounted a small rally and that’s been somewhat close stores and cut jobs
over the last half hour of mixed,” he said. in an effort to save money.
trading. Energy companies The Standard & Poor’s The company will close its
rose the most, and com- 500 index picked up 1.32 Fifth Avenue store in Man-
panies that make drinks, points, or almost 0.1 per- hattan less than three years
packaged foods, and cent, to 2,360.16. The Dow after it opened. Urban Out-
other household items also Jones industrial average fitters lost 7 cents, or 3.1
rose. Retailers and depart- rose 39.03 points, or 0.2 percent, to $22.49 after it
ment stores slumped after percent, to 20,689.24. The said sales at older stores
Urban Outfitters warned Nasdaq composite added have fallen over the last
of weak first-quarter sales 3.93 points, or 0.1 percent, two months.
and Ralph Lauren said it will to 5,898.61. Other retailers also lost
close stores and cut jobs. Slightly more stocks fell than ground. Department store
That came a day after rose on the New York Stock Nordstrom fell $2.56, or 5.5
car makers reported weak Exchange, and the Russell percent, to $43.92 and L
sales for March, which 2000 index, which contains Brands, the owner of Victo-
raised concerns about smaller-company stocks, ria’s Secret, shed $2.03, or