The Dow Jones Industrial Average on Tuesday closed at the lowest level in a week, as...
The Dow Jones Industrial Average on Tuesday closed at the lowest level in a week, as worries about the debt ceiling negotiations in Washington outweighed data suggesting economic growth remains resilient, while yields on Treasury bills maturing between early and mid-June climbed toward 6% on Tuesday.
The DowDJIA finished 231.07 points, or 0.7% lower, at 33,055.51, posting the third consecutive trading day of decline
The S&P 500SPX ended down 47.05 points, or 1.1%, to 4,145.58
The Nasdaq CompositeCOMP dropped 160.53 points, or 1.3%, to 12,560.25
On Monday, the Dow fell 140 points, or 0.42%, to 33287, the S&P 500 increased 1 points, or 0.02%, to 4193, and the Nasdaq Composite gained 63 points, or 0.5%, to 12721.
ExxonMobil reportedly has spent $100 million for 120,000 acres...
ExxonMobil reportedly has spent $100 million for 120,000 acres in Arkansasto use as its testing ground for mining lithium, a key component in batteries for electric vehicles. Work could begin within a few months and, if successful, might mean further diversity and a slice of EV the power pie for ExxonMobil.
The three lower basin states of the Colorado River—...
The three lower basin states of the Colorado River—California, Nevada, and Arizona—agreed to cut their water usage by 3 million acre-feet through 2026 in a boost to the system's historically low levels (see chart). The proposal, which comes after a historic winter of precipitation provided some relief, caps a year of negotiations between a federal agency and the impacted states.
All seven states approved the latest agreement ahead of a May 30 deadline triggering federal mandatory cuts, the first ever. Negotiations are expected to begin later this year on a longer-term deal to reach system stability. See a timeline of the Colorado River's history here.
US stock futures fall early Tuesday, following a debt-ceiling meeting between President...
US stock futures fall early Tuesday, following a debt-ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy. Investors will also be watching for data on the manufacturing and services sectors as well as new home sales, due out this morning.Check out the latest market moves.
Earnings on deck: Lowe's Companies, Shell, and Dick's Sporting Goods, all reporting
U.S. oil refinery margins have halved since the middle of 2022 but they are still at...
U.S. oil refinery margins have halved since the middle of 2022 but they are still at historically high levels and will be supported through the summer of 2023 by high operating rates and low fuel stocks.
Gross margins for producing two barrels of gasoline and one barrel of distillate fuel oil from three barrels of crude have retreated to $33 per barrel from a record $60 at the start of June 2022.
Even at this reduced level, however, margins are in the 95th percentile for all trading days since 2001, which is underpinning refinery profitability and encouraging high levels of capacity utilization.
