gains and Apple shares declines

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NEW YORK, May 12 (Xinhua) -- U.S. stocks traded in a range on Thursday, as oil prices pared earlier gains and Apple shares declines weighed the market.


At midday, the Dow Jones Industrial Average was down 45.51 points, or 0.26 percent, to 17,665.61. The S&P 500 shed 7.18 points, or 0.35 percent, to
2,057.28. The Nasdaq Composite Index lost 39.46 points, or 0.83 percent, to
4,721.23.


Oil prices struggled for gains Thursday after U.S. crude oil topped 47 U.S. dollars a barrel before the opening bell.


Shares of Apple dropped over 2 percent in the morning session, and all three major indexes turned lower with tech lagging.


On the economic front, in the week ending May 7, the advance figure for seasonally adjusted initial claims was 294,000, an increase of 20,000 from the
previous week's unrevised level of 274,000, the U.S. Labor Department said
Thursday. This is the highest level for initial claims since Feb. 28, 2015 when
it was 310,000.


Meanwhile, investors also kept a close eye on some U.S. Federal Reserve voting members scheduled to speak later Thursday for clues on the future path of
interest rate hike by the central bank.


U.S. stocks pulled back Wednesday as Wall Street assessed a batch of disappointing corporate earnings reports.

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Olympic chief Thomas Bach conceded that major sporting events like the 2018 Winter Games will always carry some form of security risk but said Wednesday he
was confident that South Korean authorities would keep athletes safe in
-Pyeongchang.


The South Korean alpine town will host Asia's first -Winter Games outside of Japan in less than three year's time.


Relations with volatile North Korea are often strained and tension between Seoul and Pyongyang has been rising recently after two South Korean soldiers
were injured by a landmine in the heavily fortified -demilitarized
zone Nike Air VaporMax 2.0 Womens , which has divided the two Koreas since the end of their 1950-53 war.


""Security is a top priority for the Olympic Games,"" Bach told reporters at a news conference in Seoul. ""Unfortunately, we are living in a world where
every big event Nike Air VaporMax CS Womens , be it sport or otherwise, has challenges with regard to security. So do the Olympic Games.""


Bach said he was confident South Korea's security forces would coordinate closely with other countries' authorities to do ""everything in their power to
protect the athletes and the Olympic Games.""


Bach will next travel to Beijing for the start of the athletics world championships.


Concerns about costs and construction setbacks had raised speculation late last year that some of the events might have to be moved away from Pyeongchang,
perhaps even to Japan.


But preparations are now in full swing Nike Air VaporMax 97 Womens , with construction on venues coming along and major South Korean companies such as Samsung, Korean Air and LG agreeing to pour
in funds to support the Games.


South Korea's two biggest automakers, Hyundai Motor Co and its affiliate Kia -Motors Corp Nike Air VaporMax Moc Womens , also signed on as sponsors this week, providing -vehicles and pumping in cash to help with the running of the
multi-sport event.

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Posted 07 Aug 2018

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