S&P 500, Nasdaq score biggest 4-day rally of 2024 as inflation data buoys market
U.S. stocks finished higher on Tuesday, with the S&P 500 and the Nasdaq Composite...
U.S. stocks finished higher on Tuesday, with the S&P 500 and the Nasdaq Composite scoring their biggest four-day rally of 2024 after softer-than-expected producer-price data reinforced bets that the Federal Reserve will commence cutting interest rates in September.
The Dow Jones Industrial Average rose 408.63 points, or 1%, to end at 39,765.64, according to FactSet data.The S&P 500 gained 90.04 points, or 1.7%, to finish at 5,434.43, and the Nasdaq Composite advanced 407 points, or 2.4%, ending at 17,187.61.
The S&P 500 and the Nasdaq have posted gains for four consecutive trading sessions. Both indexes notched their biggest four-day percentage climb of 2024.
Tuesday’s advance added to the market's comeback from the stock selloff earlier this month, with the three major indexes further erasing their heavy losses from the Aug. 5 rout.
A blend of factors that includes soaring international demand and growing...
A blend of factors that includes soaring international demand and growing domestic production is turning natural gas liquids into the next big American export, according to East Daley Analytics Vice President of Analytics Rob Wilson. As existing US Gulf Coast NGL export terminals near capacity, dock expansions planned by midstream companies will help sustain the NGL export momentum, Wilson says.
Tropical Storm Ernesto drenches northeast Caribbean and takes aim at Puerto Rico
Tropical Storm Ernesto battered the northeast Caribbean on Tuesday, taking...
Tropical Storm Ernesto battered the northeast Caribbean on Tuesday, taking aim at Puerto Rico, where officials shuttered schools and government agencies.
On Tuesday morning, the storm was located about 300 miles (480 kilometers) east-southeast of San Juan, Puerto Rico. It had maximum sustained winds of 45 mph (75 kph) and was moving west at 18 mph (30 kph).
“It’s not a hurricane, but it will bring heavy rains regardless,” Gov. Pedro Pierluisi said as he urged people to seek shelter by early Tuesday evening.
Electrical blackouts in Texas also mean the state can’t get help from neighboring states
As renewable energy growth advances across Texas and more electricity is produced by wind and solar power,...
As renewable energy growth advances across Texas and more electricity is produced by wind and solar power, the state’s power grid faces a quandary.
Texas doesn’t share its renewable electricity with other states, avoiding any federal oversight. This also means that should Texas suffer intense power outages, like those during the 2021 Winter Storm Uri, it cannot rely on neighboring states to offer electrical help.
Federal rules slowing abandoned well cleanup efforts
Federal endangered species and historic preservation regulations are stalling the cleanup of roughly...
Federal endangered species and historic preservation regulations are stalling the cleanup of roughly 880,000 abandoned wells across the US, according to officials in oil and natural gas drilling states. The pace of well-plugging has significantly decreased in places like Texas as states struggle to navigate tougher Interior Department requirements tied to each new round of federal funding.
