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10 November 2017
 |
| financial markets (The Total Investment & Insurance Solutions) |
U.S. stocks are falling Friday as health care companies skid. Technology
companies also slipped as investors continued to sell on news that Senate
Republicans want to delay a cut in U.S. corporate taxes by one year. Media
companies and retailers gained ground. Stocks have risen for eight weeks in a
row, their longest run in almost four years, but that streak is on track to
end.
KEEPING SCORE: The Standard & Poor's 500 index lost 7 points, or 0.3
percent, to 2,577 as of 10:10 a.m. Eastern time. The Dow Jones industrial
average slid 54 points, or 0.2 percent, to 23,407. The Nasdaq composite gave up
13 points, or 0.2 percent, to 6,736. The Russell 2000 index of smaller-company
stocks added 1 point, or 0.1 percent, to 1,476. The Total Investment & Insurance Solutions
The S&P 500 is down about 0.4 percent this week. It's been setting
records all year and climbed 5 percent over a winning streak that covered the
previous eight weeks. The Total
Investment & Insurance Solutions
TAKEN ILL: Health care companies have been falling since late October.
On Friday, prescription drug distributor Cardinal Health $1.39, or 2.3 percent,
to $59.17 and health care products maker Johnson & Johnson lost $1.67, or
1.2 percent, to $138.68. Medical device maker Medtronic slid $1.48, or 1.8
percent, to $79.33. The Total
Investment & Insurance Solutions
Among technology companies, which have soared
this year, video gamer maker Activision Blizzard dipped 89 cents, or 1.4
percent, to $62.64 and Microsoft lost 60 cents to $83.49. Software maker Adobe
Systems declined $1.64 to $180.28.
RETAIL ROCKETING: J.C. Penney leaped 46
cents, or 16.6 percent, to $3.21 after it said a closely-watched sales
measurement grew for the first time in more than a year. The company also took
a smaller quarterly loss than analysts had expected. Elsewhere Macy's built on
its jump a day ago and added another 34 cents, or 1.7 percent, to $19.84.
Competitor Kohl's rose $1.12, or 2.7 percent, to $42.29 and Foot Locker gained
38 cents, or 1.3 percent, to $30.99.
THE FORCE, AND SPORTS: Walt Disney rose
$2.47, or 2.4 percent, to $105.15. The entertainment giant said it received
bigger payments from cable companies for ESPN and offered more details about
its planned sports streaming services. The company also announced plans for
another "Star Wars" film trilogy. "Star Wars: The Force
Awakens," released in late 2015, grossed about $2 billion and investors
also have high hopes for next month's "The Last Jedi."
NewsCorp added 78 cents, or 5.4 percent, to
$15.14 after the publisher of The Wall Street Journal and the New York Post
reported a bigger profit and more revenue than analysts expected.
CHIPPED IN: Graphics chip maker Nvidia had
another strong quarter and Wall Street was pleased with results from the
company's data center business. The stock jumped $8.33, or 4.1 percent, to
$213.65. It's doubled in value this year.
BONDS: Bond prices slumped. The yield on the
10-year Treasury note rose to 2.38 percent from 2.34 percent.
CURRENCIES: The dollar slipped to 113.21 yen from 113.32 yen. The euro
rose to $1.1667 from $1.1643. The Total
Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude oil was unchanged at $57.17 a barrel in New
York. Brent crude, used to price international oils, rose 9 cents to $64.02 a
barrel in London. The Total Investment
& Insurance Solutions
OVERSEAS: The FTSE 100 index in Britain fell
0.7 percent. The French CAC 40 and the German DAX both dipped 0.2 percent.
Japan's benchmark Nikkei 225 index lost 0.8 percent and South Korea's Kospi
fell 0.3 percent. In Hong Kong, the Hang Seng dipped less than 0.1 percent.
___
AP Markets Writer Marley Jay can be reached at
http://twitter.com/MarleyJayAP His work can be found at
https://apnews.com/search/marley%20jayt.
The Total Investment & Insurance Solutions
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