Page 12 - WEB

Tuesday 24 January 2017 BUSINESS
A24

US stock indexes close slightly lower; oil prices slide

“There was that huge rally meeting with busi-
postelection and things re- ness leaders, Trump repeat-
ally were running on opti- ed a campaign promise to
mism,” said Lisa Kopp, head cut regulations by at least
of traditional investments 75 percent. He also said
at U.S. Bank Wealth Man- there would be advantag-
agement. “What you’re es to companies that make
seeing now is people com- their products in the U.S.,
ing back to the idea that suggesting he will impose a
the policies aren’t exactly “substantial border tax” on
clear ... and (Trump’s) abil- foreign goods entering the
ity to actually push every- country.
thing through exactly the Trump also signed a mem-
way he wants is uncertain.” orandum announcing the
The Dow Jones industrial United States’ intention to
average fell 27.40 points, withdraw from the multi-
or 0.1 percent, to 19,799.85. nation trade agreement
The Standard & Poor’s 500 known as the Trans-Pacific
index slid 6.11 points, or Partnership, and said he
0.3 percent, to 2,265.20. would renegotiate the
The Nasdaq composite in- North American Free Trade
dex lost 2.39 points, or 0.04 Agreement.
percent, to 5,552.94. The Companies that issued re-
Trader Robert Charmak, center, and Peter Tuchman, right, work on the floor of the New York Stock Russell 2000, which tracks sults or outlooks that fell
Exchange, Monday, Jan. 23, 2017. Energy companies led U.S. stock indexes slightly lower Mon- smaller companies, gave short of Wall Street’s fore-
day as the price of crude oil fell. up 4.01 points, or 0.3 per- casts put traders in a selling
(AP Photo/Richard Drew) cent, to 1,347.84. mood.
ALEX VEIGA dividend stocks did better earnings and deal news. The major stock indexes McDonald’s fell 0.7 per-
AP Business Writer than the rest of the mar- They also had their eye on were down slightly early cent after the world’s big-
Energy companies led U.S. ket as bond yields headed Washington, where Presi- Monday and veered little gest hamburger chain
stock indexes slightly lower lower, making those sec- dent Donald Trump reaf- throughout the day as in- reported a fourth-quarter
Monday as the price of tors more appealing to in- firmed plans to slash regu- vestors sized up company drop in sales at established
crude oil fell. vestors seeking income. lations on businesses and news and developments U.S. locations. The decline
Real estate, phone com- Investors focused on the tax foreign goods entering out of Washington. snapped a streak of five
panies and other high- latest batch of company the country. At an early White House quarters of increases. q
Yahoo’s 4Q shows modest strides amid security breach fallout

MICHAEL LIEDTKE The Securities and Ex-
AP Technology Writer change Commission has
SAN FRANCISCO (AP) — opened an investigation
Yahoo’s financial perfor- into whether Yahoo should
mance improved slightly have announced the se-
during the fourth quarter curity breaches sooner
while the company dealt than it did, according to
with the fallout from mas- a report in The Wall Street
sive security breaches Journal that cited uniden-
that have jeopardized the tified people familiar with
$4.8 billion sale of its inter- the matter.
net operations to Verizon The SEC declined to com-
Communications. ment. Yahoo pointed to an
The fourth-quarter report SEC filing in November that
released Monday provid- acknowledged the com-
ed the latest snapshot of pany is cooperating with
a shrinking company that various government agen-
has been steadily losing cies, including the SEC,
ground in the digital ad- that are seeking informa-
vertising market that gen- tion and documents per-
erates most of its revenue. taining to the breaches.
Although cost-cutting Verizon has been doing its
helped Yahoo bounce own review to determine
back from a loss during the whether it should re-ne-
same time in the previous The logo of Yahoo appears on a smartphone in Frankfurt, Germany. Yahoo Inc. reported quarterly gotiate the sales price or
financial results after the market closes, Monday, Jan. 23, 2017.
year, the company’s net (AP Photo/Michael Probst) cancel the deal entirely on
revenue slipped yet again the premise that the news
to extend a downturn that streak of four consecutive applications to Verizon. personal information from of the security breaches
has lasted through most of quarters of double-digit de- But after striking the Verizon more than 1 billion user ac- will cause many people to
CEO Marissa Mayer’s four- clines. deal, Yahoo revealed that counts. The break-ins oc- become leery of using Ya-
and-half-year tenure. In a Yahoo’s long-running it had been hit by two sep- curred in 2013 and 2014, hoo’s email and other ser-
sign of modest progress, slump culminated in the arate hacking attacks that raising further questions vices in the future. A down-
Yahoo’s revenue fell 4 per- company’s agreement last stole the email addresses, about Yahoo’s security turn in traffic could make it
cent after subtracting ad summer to sell its email ser- birth dates, answers to se- controls and the timing of more difficult for Verizon to
commissions, snapping a vice, websites and mobile curity questions, and other its disclosures. sell ads.q