Dow ends up 320 points for best day in a month as Wall Street awaits Fed's call
U.S. stocks finished higher in a volatile session on Tuesday as investors...
U.S. stocks finished higher in a volatile session on Tuesday as investors geared up for the Federal Reserve's interest-rate decision tomorrow.
The Dow Jones Industrial Average was up around 320 points, or 0.8%, to finish near 39,110. The blue-chip index also booked its largest one-day point and percentage gains since February 22, according to Dow Jones Market Data.
The S&P 500 was up 0.6%, to end near 5,178, its new record high, while the Nasdaq Composite rose 0.4%, to finish around 16,166, according to FactSet data.
The Federal Reserve Open Market Committee kicked off its two-day policy meeting on Tuesday. Policymakers will announce their rate decision on Wednesday at 2 p.m. Eastern time. Fed Chair Jerome Powell will hold a press conference at 2:30 p.m. to discuss the decision and provide information on the central bank's outlook.
Hong Kong Adopts Sweeping Security Laws, Bowing to Beijing
Hong Kong on Tuesday passed national...
Hong Kong on Tuesday passed national security laws at the behest of Beijing, thwarting decades of public resistance in a move that critics say will strike a lasting blow to the partial autonomy the city had been promised by China.
The new legislation, which was passed with extraordinary speed, grants the authorities even more powers to crack down on opposition to Beijing and the Hong Kong government, establishing penalties — including life imprisonment — for political crimes like treason and insurrection, which are vaguely defined. It also targets offenses like “external interference” and the theft of state secrets, creating potential risks for multinational companies and international groups operating in the Asian financial center.
The numbers: Construction of new U.S. homes rebounded...
The numbers: Construction of new U.S. homes rebounded 10.7% in February to an annual pace of 1.52 million units, the Commerce Department said Tuesday. That is the biggest gain in nine months. Despite the increase, starts are still below December’s level.
Economists on Wall Street were expecting a 7.4% rise in housing starts in February to 1.43 million. All numbers are seasonally adjusted.
The number of housing starts in January was revised slightly higher, to a drop of 12.3% to 1.37 million, from an initial reading of a 14.8% drop to 1.33 million. It is still the biggest drop since May 2022.
ConocoPhillips CEO says Biden administration needs to lift LNG export freeze
The top man at ConocoPhillips, Ryan Lance, has joined the list of those...
The top man at ConocoPhillips, Ryan Lance, has joined the list of those urging the Biden administration to lift its freeze on LNG export licenses. In an interview with Bloomberg TV this week, Lance said the pause should end after the November presidential election.
“Customers are getting uncertain about where the future stands and gas producers are saying, ‘Am I going to have an outlet for my gas?’
Bloomberg reported that Lance contends the administration’s pause is only feeding the next cycle that will result in higher gas prices.
Good morning and happy first day of spring! One step...
Good morning and happy first day of spring! One step closer to Walgreens running out of Claritin, neighborhood dads judging each other’s lawns, and the Mets being mathematically eliminated from the playoffs.
A report backed by the UN said famine is “imminent” in Northern Gaza as the Israel–Hamas war continues.
The EPA has banned the last form of asbestos that was legal in the US, more than 30 years after a court overturned its first attempt to ban the cancer-causing substance.
Sports Illustrated’s print edition will live on: A new deal will let Minute Media, which owns The Players’ Tribune and Fansided, publish the struggling magazine for at least 10 years.
Volkswagen employees at a plant in Tennessee have filed a petition for a vote on joining the United Auto Workers union.
Dan Schneider, who created Nickelodeon TV hits like iCarly, told Variety he never intentionally sexualized kids’ shows, responding to allegations of misconduct in a new documentary.
