Page 25 - ARUBA TODAY

BUSINESS Wednesday 8 august 2018
A25

US stocks keep climbing; technology companies lead

By MARLEY JAY Rental car company Hertz
Associated Press also did better than Wall
NEW YORK (AP) — U.S. Street expected, and its
stocks are rising again Tues- stock soared 17.9 percent
day as strong company to $18.47.
earnings lift the market. The Technology stocks, which
benchmark S&P 500 index tumbled last month after
is up for the fourth day in a weak results from compa-
row and fifth out of the last nies including Facebook
six. Technology compa- and Twitter, continued to
nies and banks are making make a gradual recovery.
some of the largest gains. Alphabet, Google's parent
Overseas markets are also company, rose 1.5 percent
higher. to $1,256.30.
KEEPING SCORE: The S&P Among financials, Charles
500 index jumped 10 points, Schwab added 1.2 per-
or 0.4 percent, to 2,860 as cent to $50.99.
of 10 a.m. Eastern time. The BIG CAVITY: Dental prod-
Dow Jones Industrial Aver- ucts maker Dentsply cut
age gained 146 points, or its forecasts and took a
0.6 percent, to 25,648. The $1.26 billion charge con-
Nasdaq composite rose nected to its technology
26 points, or 0.3 percent, This Jan. 4, 2018, file photo shows the interior of the New York Stock Exchange. and equipment business.
to 7,886. The Russell 2000 Associated Press The company said sales
index of smaller-company and profit margins have
stocks climbed 7 points, or all-time high. After that hasn't materialized, but Etsy surged 11.2 percent been weaker than expect-
0.4 percent, to 1,691. it dropped 10 percent in trade fears have weighed to $47.20 after it reported ed and it plans to restruc-
The S&P 500 is trading at nine days as investors wor- on the market since then. stronger sales than ana- ture its business. The stock
its highest levels since Jan. ried about signs that infla- OFF TO THE RACES: Arts lysts anticipated and raised dropped 19.4 percent to
26, when it closed at an tion was accelerating. That and crafts marketplace its forecasts for the year. $39.04.q

Open jobs outnumber US unemployed for 3rd straight month

By CHRISTOPHER RUGABER June quarter, the fastest or when they already have
WASHINGTON (AP) — U.S. pace in four years. one, usually at higher pay.
employers posted slightly Last week, the government With job openings outnum-
more openings in June than said that employers added bering the unemployed,
the previous month, result- 157,000 jobs in July and the companies should be bid-
ing in more available jobs unemployment rate fell to ding up wages to attract
than unemployed people 3.9 percent, near an 18- and keep workers. Yet av-
for the third straight month, year low. That figure repre- erage hourly pay gains,
signaling a solid economy. sents a net gain, while Tues- while slowly grinding high-
The Labor Department said day's report, known as the er, remain modest.
Tuesday that job openings Job Openings and Labor Average hourly wages rose
barely increased, rising Turnover survey, or JOLTS, 2.7 percent in July from a
3,000 to 6.66 million. That's measures total hiring be- year earlier, the Labor De-
more than the 6.56 million fore quits, layoffs and retire- partment said last week.
people who were search- ments. Yet rising inflation has offset
ing for work in June. It's also The proportion of workers that gain: Consumer prices In this Tuesday, July 17, 2018, photo applicants talk to potential
employees during a jobs fair at Minneapolis International Air-
close to April's figure of 6.8 quitting their jobs is at the increased 2.9 percent in port in Minneapolis.
million, a record high. Over- highest level in nearly 13 June from a year ago, lifted Associated Press
all hiring slipped to 5.65 mil- years. That's a sign of con- in part by more expensive
lion from 5.75 million, and fidence in the economy, gas. that worker productivity — makes it harder to win high-
the number of people because workers typically There are many possible or output per hour worked er pay. Productivity can rise
quitting their jobs declined quit when they are sure reasons why pay isn't rising — is increasing at a histori- when companies invest in
slightly to 3.4 million from they can find a new job, faster. One explanation is cally sluggish rate. That sug- more machinery, comput-
nearly 3.5 million in May. gests workers aren't getting ers, and software to boost
The figures reflect a robust much more efficient, which employees' output.q
job market. The unem-
ployed typically outnum-
ber job openings, but that Salina Cerca 23-i
reversed this spring amid
strong demand from em- 4 Bedroom
ployers. Businesses are op- 3 bathroom
timistic about the outlook apt in the back
and stepping up hiring in in front of Marriott
anticipation of solid future Price $ 1.4 million
growth. The economy ex-
panded at a 4.1 percent
annual rate in the April-