Home' Trinidad and Tobago Guardian : December 20th 2015 Contents A39
December 20, 2015 www.guardian.co.tt Sunday Guardian
A.P.I. Pipeline Construction Company Limited is seeking
applications for a qualified and experienced Project Manager.
The ideal candidate will be involved in initial bidding and
estimation, planning and scheduling, document preparation,
design analysis, staffing projects, implementation and execution,
project control and evaluation, commissioning and project
closeout. The ideal candidate must possess extensive field
experience, prominent leadership ability, a team player and be
able to complete projects within budget and schedule.
Qualification and Experience:
• A University Graduate with at least 6 years of experience
in pipeline, civil and structural construction management.
Candidates with Diplomas will be considered with a
minimum of 8 years of experience and PMP Certification.
Proficient in Project Management Software and Microsoft
Terms & Conditions
Competitive salary commensurate with qualification and experience.
Applications should include a Cover Letter and Resume along
with relevant credentials and references. Completed applications
should be forwarded to the Human Resource Department, 51A
Siparia Old Road, Fyzabad, Trinidad W.I. or applications can be
submitted via email at email@example.com
Stocks plunged across all sectors
in the heaviest trading of the year
Friday as enthusiasm over a long-
awaited increase in US interest
Several other negative factors combined to
give the market its second big loss in a row,
bringing the indexes lower for the week.
Bank stocks, which investors had bid up in
hopes they would become more profitable as
loan rates climbed, fell the most. Technology
shares suffered more declines as a bad Decem-
ber got worse for Apple. The world s most
valuable publicly traded company sank again,
bringing its monthly loss to 10 per cent.
Overseas, Japan s market sank after that
country s central bank made changes to a stim-
ulus program that fell short of what investors
were hoping for. Another drop in energy prices
sent oil stocks lower again, and worries about
weak global growth weighed on shipping and
other transportation companies.
The Dow Jones industrial average dropped
367.29 points, or 2.1 per cent, to 17,128.55. The
S&P 500 index fell 36.34 points, or 1.8 per
cent, to 2,005.55. The Nasdaq composite sank
79.47 points, or 1.6 per cent, to 4,923.08. All
10 Standard & Poor s 500 sectors fell.
US stock trading was even more volatile
than usual Friday because of the simultaneous
expiration of several kinds of futures and other
contracts that investors use to place bets on
indexes and individual stocks.
As a result Friday was the busiest trading
day of the year for stocks.
The market ended a tumultuous week slightly
lower. Stocks had rallied over the first three
days and jumped Wednesday after the Federal
Reserve raised interest rates for the first time
in almost a decade.
The move was a vote of confidence in the
US economy. But over the next two days stocks
were hit by some of the worries that have
dogged them all year, like weakness in the
Chinese economy, slowing global growth, and
skidding prices for energy and metals.
While the Bank of Japan plans to spend a
bit more on exchange-traded funds for com-
panies that increase hiring and investment,
investors were hoping for more, according to
Ryan Larson, head of US equity trading for
RBC Global Asset Management.
"They were looking for more, and when
the market s disappointed, this is what you
get," he said.
The global market went into a similar slide
two weeks ago, when the European Central
Bank ramped up its stimulus efforts but didn t
do nearly as much as expected. Stocks rallied
after ECB President Mario Draghi said the bank
is ready to expand its stimulus program further
Those slumps show that investors will con-
tinue keeping an eye on the words and deeds
of central banks in struggling Europe and Japan
as well as the US for the foreseeable future.
The Federal Reserve had kept interest rates
near zero for seven years. Fed Chair Janet Yellen
emphasised that despite the boost, interest
rates will remain low for some time. That
pleased investors overall, but it eventually put
pressure on bank stocks. Banks will benefit
from higher interest rates and have and have
rallied over the last few months, but the initial
benefits won t be great.
Tech stocks also slumped. Apple fell US$2.95,
or 2.7 per cent, to US$106.03. The stock has
fallen 10 per cent in December and has risen
only three days this month. Microsoft fell
US$1.57, or 2.8 per cent, to US$54.13.
The news wasn t all bad. Darden Restaurants,
the owner of Olive Garden and other chains,
climbed after the company raised its outlook
for the year. Olive Garden sales rose and the
company s profit was better than analysts were
expecting. The stock added US$4.11, or 7.0
per cent, to US$62.50.
US crude fell 22 cents to US$34.73 a barrel
in New York. Oil is trading at its lowest level
in almost seven years and has slumped over
the last two days. Brent crude, a benchmark
for international oils, slipped 18 cents to
US$36.88 a barrel in London. Natural gas,
which has sunk to 16-year lows as demand
fell, picked up 1.2 cents to US$1.767 per 1,000
US government bond prices rose. The yield
on 10-year Treasury note fell to 2.21 per cent
from 2.23 per cent. The euro rose to US$1.0863
The dollar dipped to 121.25 yen from 122.85
yen. The dollar had climbed Thursday and is
expected to gain strength as the Fed raises
interest rates while central banks in Europe
and Japan reduce interest rates.
People are reflected on the electronic board of a securities firm in Tokyo,Thursday, December
17, 2015. Asian stocks posted broad gains Thursday after the Federal Reserve ended
protracted uncertainty in markets by raising interest rates for the first time in nearly a decade
and signaling that further increases will be gradual. AP
How the Dow Jones industrial average fared
The Dow Jones industrial average skidded 367.29 points,
or 2.1 per cent, to 17,128.55.
The Standard & Poor's 500 index lost 36.34 points, or 1.8
per cent, to 2,005.55.
The Nasdaq composite dropped 79.47 points, or 1.6 per
cent, to 4,923.08.
For the week:
The Dow fell 136.66 points, or 0.8 per cent.
The S&P slipped 6.82 points, or 0.3 per cent.
The Nasdaq shed 10.38 points, or 0.2 per cent.
For the year:
The Dow is down 694.52 points, or 3.9 per cent.
The S&P is down 53.35 points, or 2.6 per cent.
The Nasdaq is up 187.03 points, or 4 per cent.
US stocks tumble
on global worries;
financial stocks skid
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