Stocks jump, with buffett helping apple to new highs – naples herald gas welder salary

Apple rose 3.9 percent to $183.83 after Warren Buffett told CNBC his company boosted its investment in Apple to more than 240 million shares altogether. Buffett told CNBC about the purchase ahead of Berkshire Hathaway’s annual meeting this weekend. Berkshire stock rose 2.1 percent to $195.64.

After better-than-expected reports, burger chain Shake Shack surged 18 percent to $55.95 while music streaming company Pandora Media advanced 19.8 percent to $6.89. Video game maker Activision Blizzard gained 4.5 percent to $69.84. The stock had dipped Thursday afternoon after Activision’s results were released early.

U.S. employers stepped up hiring modestly in April, and the hiring estimate from March was revised higher. That’s evident the economy remains resilient even though some businesses are concerned about a possible trade war. While many employers say it’s difficult to find qualified workers, they have yet to significantly boost pay in most industries, a trend that continued last month.

The Trump administration asked China to reduce its trade deficit with the U.S. by $200 billion by the end of 2020, striking an assertive stance in talks aimed at averting a trade war between the world’s largest economies. It also wants China to immediately stop providing subsidies to certain industries listed in a key industrial plan and end some of its policies related to technology transfers, a key source of tension underlying the dispute. While the trade tensions have rattled investors, many market watchers think the two sides will eventually come to a deal that doesn’t disrupt trade much.

Engineering and construction company Fluor plunged after it slashed its profit forecast because a gas-fired power project suffered “continued challenges.” The company took an unexpected loss in the first quarter and now expects a profit of $2.10 to $2.50 per share for the year, down from 2$3.10 to $3.50 per share. The stock dropped 22.4 percent to $45.76.

Bond prices rose early, but later gave up that gain. The yield on the 2-year Treasury note rose to 2.49 percent from 2.48 percent. The yield on the 10-year Treasury note remained at 2.95 percent. That helped banks recover from an early loss. Lower bond yields mean lower rates for mortgages and other types of loans, which reduces profits for banks. Companies that pay big dividends didn’t rise as much as the rest of the market.

Britain’s FTSE 100 rose 0.9 percent and the DAX in Germany added 1 percent. France’s CAC 40 gained 0.3 percent. The South Korean Kospi sank 1 percent and Hong Kong’s Hang Seng index lost 1.3 percent. Markets in Japan remained closed for a public holiday.

Apple rose 3.9 percent to $183.83 after Warren Buffett told CNBC his company boosted its investment in Apple to more than 240 million shares altogether. Buffett told CNBC about the purchase ahead of Berkshire Hathaway’s annual meeting this weekend. Berkshire stock rose 2.1 percent to $195.64.

After better-than-expected reports, burger chain Shake Shack surged 18 percent to $55.95 while music streaming company Pandora Media advanced 19.8 percent to $6.89. Video game maker Activision Blizzard gained 4.5 percent to $69.84. The stock had dipped Thursday afternoon after Activision’s results were released early.

U.S. employers stepped up hiring modestly in April, and the hiring estimate from March was revised higher. That’s evident the economy remains resilient even though some businesses are concerned about a possible trade war. While many employers say it’s difficult to find qualified workers, they have yet to significantly boost pay in most industries, a trend that continued last month.

The Trump administration asked China to reduce its trade deficit with the U.S. by $200 billion by the end of 2020, striking an assertive stance in talks aimed at averting a trade war between the world’s largest economies. It also wants China to immediately stop providing subsidies to certain industries listed in a key industrial plan and end some of its policies related to technology transfers, a key source of tension underlying the dispute. While the trade tensions have rattled investors, many market watchers think the two sides will eventually come to a deal that doesn’t disrupt trade much.

Engineering and construction company Fluor plunged after it slashed its profit forecast because a gas-fired power project suffered “continued challenges.” The company took an unexpected loss in the first quarter and now expects a profit of $2.10 to $2.50 per share for the year, down from 2$3.10 to $3.50 per share. The stock dropped 22.4 percent to $45.76.

Bond prices rose early, but later gave up that gain. The yield on the 2-year Treasury note rose to 2.49 percent from 2.48 percent. The yield on the 10-year Treasury note remained at 2.95 percent. That helped banks recover from an early loss. Lower bond yields mean lower rates for mortgages and other types of loans, which reduces profits for banks. Companies that pay big dividends didn’t rise as much as the rest of the market.

Britain’s FTSE 100 rose 0.9 percent and the DAX in Germany added 1 percent. France’s CAC 40 gained 0.3 percent. The South Korean Kospi sank 1 percent and Hong Kong’s Hang Seng index lost 1.3 percent. Markets in Japan remained closed for a public holiday.