Wednesday, 18 October 2017 12:32

Business report Wednesday October 18th Featured

Written by 

BANGOR - Gains by health care companies helped lead stock indexes mostly higher on Tuesday.

The Dow Jones briefly topped 23,000 for the first time on Tuesday. The index climbed to 23,002 before retreating, eventually closing at 22,997. A 40 point gain for the day. The S&P 500 index rose one tenth of a percent to finish the day at 2,559 while the NASDAQ slipped less than a point to close at 6,623.


The Transportation Department released its monthly air travel consumer report which found the dozen airlines it covers canceled 2.2 percent of their flights in August, up from 1.4 percent the same month last year. 77.1 percent of flights arrived on time, down slightly a year ago. Hawaiian Airlines had the best rating among the 12 largest U.S. airlines. Virgin America had the worst rate.


Home builders are optimistic. The National Association of Home Builders/Wells Fargo Builder Sentiment Index rose four points this month to 68, the highest reading since May. Any reading above 50 is a sign builders see sales conditions as good. The index has been above 60 since September of last year.


And autonomous vehicles could soon be headed to the Big Apple. Cruise Automation, a San Francisco-based self-driving software company owned by general motors, hopes to begin testing in New York City early next year. If approved this will be the first time fully self-driving vehicles will be allowed to operate in New York.