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BUSINESS Saturday 1 december 2018
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US stocks are mixed before Trump-Xi trade meeting

By MARLEY JAY els.
Associated Press TESTING, TESTING: Medi-
NEW YORK (AP) — Stocks cal lab company LabCorp
are wavering Friday ahead skidded 10.4 percent to
of the highly anticipated $145.04 after cutting its
trade meeting between profit and sales forecasts.
President Donald Trump On Thursday LabCorp fell
and President Xi Jinping of 2 percent and rival Quest
China. Investors have long Diagnostics dropped 9.3
hoped the two will use their percent after Quest did
meeting at the Group of 20 the same, saying testing
summit to start resolving the volumes were down. Quest
trade dispute between the rose 0.3 percent to $88.21
two countries. Friday.
Tech and health care com- GAME OVER: Video game
panies are making small retailer GameStop skid-
gains while internet com- ded 7.7 percent to $13.51
panies are down. Energy after it cut its annual profit
stocks slipped as crude oil and sales forecasts. The
briefly dropped under $50 company said some key
a barrel for the first time titles didn't sell as well as
since October 2017. it hoped, and promotions
KEEPING SCORE: The S&P and sales of used games
500 index added 10 points, In this Nov. 20, 2018, file photo pedestrians walk past the New York Stock Exchange. weren't as strong as ex-
or 0.4 percent, to 2,748 at Associated Press pected.
1:49 p.m. Eastern time. The BONDS: Bond prices rose
Dow Jones Industrial Aver- technology policy and oth- biggest-selling drug in the The Attorney General of further. The yield on the 10-
age rose 43 points, or 0.2 er trade issues. The U.S. has world by revenue, and it's New York said she is open- year Treasury note fell to
percent, to 25,387. The announced tariffs on $250 responsible for about two- ing an investigation into the 3.01 percent from 3.03 per-
Nasdaq composite rose billion in Chinese imports thirds of AbbVie's total breach. Marriott stock lost cent.
24 points, or 0.3 percent, so far, with the tax rate on sales. 6.1 percent to $114.44. CURRENCIES: The dollar
to 7,298. The Russell 2000 many products set to rise Other biotech drugmakers ENERGY: Benchmark U.S. rose to 113.66 yen from
index of smaller-company Jan. 1, while China put new also traded higher. Gilead crude fell more than 3 per- 113.43 yen. The euro fell to
stocks was little changed taxes on $110 billion in U.S. Sciences rallied 2.9 percent cent in morning trading $1.1310 from $1.1389.
at 1,525. More stocks fell goods. Wall Street is con- to $71.71 and Amgen rose and briefly slipped below METALS: Gold lost 0.4 per-
than rose on the New York cerned that the lingering 2.2 percent to $206.80. $50 a barrel. Later it was cent to $1,226 an ounce.
Stock Exchange. questions about tariffs and UNWANTED GUESTS: Mar- down 0.2 percent to $51.34 Silver fell 1.3 percent to
Stocks have rallied this other trade issues will keep riott said the information a barrel in New York. Brent $14.22 an ounce. Cop-
week after falling to a six- businesses from spending of as many as 500 million crude lost 0.3 percent to per held steady at $2.79 a
month low last Friday. The money. guests at Starwood hotels $59.71 a barrel in London. pound.
S&P 500 is up 1.1 percent THE LEADERS: Health care has been compromised by U.S. crude has nosedived OVERSEAS: The FTSE 100 in-
this month, but it's still 6.5 companies climbed. Bio- a data breach that started 21.5 percent this month, its dex in Britain shed 0.8 per-
percent away from the tech drugmaker AbbVie in 2014 and September biggest loss in a decade. cent and Germany's DAX
all-time high it set in late rose 3.3 percent to $92.84 2018. The company said Oil prices have been falling lost 0.4 percent. France's
September. Among other after it said Pfizer agreed to the credit card information since early October as sup- CAC 40 fell less than 0.1
issues, that drop reflects in- wait until November 2023 of some guests may have plies have built up, partly percent.
vestors' pessimism that the before it starts selling a ge- been taken, along with because the U.S. agreed Japan's Nikkei 225 index
U.S. and China will resolve neric version of AbbVie's other personal details. The to hold off on sanctions climbed 0.4 percent and
their differences without inflammatory disease drug affected brands include W for countries that import oil the Hang Seng in Hong
causing damage to the Humira in the U.S. The Hotels, St. Regis, Sheraton, from Iran. Investors are also Kong added 0.2 percent.
global economy. agreement is part of a li- Westin, Element, Aloft, The worried that a slowdown in South Korea's Kospi fell 0.8
The two sides have been censing deal between the Luxury Collection, Le Méri- global economic growth percent.q
sparring for months over companies. Humira is the dien and Four Points. will reduce demand for fu-

Vatican enters European bank system in new sign of progress

By NICOLE WINFIELD Vatican City State and can's Institute for Religious Europe that has long been
Associated Press Holy See are now included Works and have weath- suspicious of the Holy See's
VATICAN CITY (AP) — The in the Single Euro Payments ered years of scandal and murky finances and its rep-
Vatican has made more Area, known as SEPA. That reform, the development utation as an offshore tax
progress in its path to allows the Vatican bank to means faster and cheaper haven.
greater financial transpar- have its own IBAN code — transactions. Tommaso Di Ruzza, di-
ency by securing approval the unique numerical iden- The approval by the Euro- rector of the Vatican's fi-
to join the European bank- tifier that facilitates wire pean Payments Council to nancial watchdog agen-
ing system that harmo- transfers between banks. bring the Vatican into the cy, said the Vatican's
nizes electronic payments For the religious orders, SEPA zone, announced entrance into SEPA was "a
across the continent. Vatican embassies, em- Friday by the Vatican, step forward" that consoli-
With the endorsement of ployees and diplomats amounts to something of dates progress made over
the European Council, the who are clients of the Vati- a vote of confidence by a the past several years.q