U.S. stocks snap two-day winning streak with positive earnings news offset by rising bond yields
U.S. stocks ended a choppy session lower on Wednesday as another...
U.S. stocks ended a choppy session lower on Wednesday as another batch of mostly positive corporate earnings was offset by an ongoing rise in Treasury yields.
The Dow Jones Industrial Average DJIA, -0.33% was down 99.99 points, or 0.3%, to finish at 30,423.81.
The S&P 500 SPX, -0.67% was off 24.82 points, or 0.7%, ending at 3,695.16.
The Nasdaq Composite COMP, -8.76% finished 91.89 points lower, or 0.9%, at 10,680.51.
On Tuesday, the Dow rose 551 points, or 1.9%, while the S&P 500 rose 2.7% and the Nasdaq Composite gained 3.4%. The S&P 500 was up 4% from its 2022 closing low through Tuesday but remained down 22% for the year to date.
Benchmark U.S. crude oil for November delivery rose $2.73 to $85.55 a barrel Wednesday. Brent crude for December delivery rose $2.38 to $92.41 a barrel.
Wholesale gasoline for November delivery rose 10 cents to $2.65 a gallon. November heating oil fell 9 cents to $3.90 a gallon. November natural gas fell 29 cents to $5.46 per 1,000 cubic feet.
Continental Resources Agrees to Harold Hamm’s Boosted Take-private Offer
Continental Resources Inc. agreed to be acquired by its founder,...
Continental Resources Inc. agreed to be acquired by its founder, Harold G. Hamm, in a $4.3 billion cash acquisition that would take the U.S. shale giant private.
The Oklahoma City-based company said on Oct. 17 it entered a merger agreement to be acquired by Omega Acquisition Inc., an entity owned by Hamm, for $74.28 per share. The offer price represents a 15% premium to the closing price on June 13—the day before Hamm’s family disclosed their initial $70 per share proposal.
Crude oil prices slipped today after the U.S. Energy Information...
Crude oil prices slipped today after the U.S. Energy Information Administration reported crude oil inventories had shed 1.7 million barrels in the week to October 14.
This compared with an inventory build of 9.9 million barrels for the previous week and an API estimate of declines in both crude and fuels for the week to October 14.
In gasoline stocks, the EIA reported a draw of 100,000 barrels, which compared with a build of 2 million barrels for the previous week.
Gasoline production averaged 9.4 million bpd in the week to October 14, which compared with 9.2 million bpd during the previous week.
In distillate fuels, the EIA reported an inventory increase of 100,000 barrels for last week. This compared with two consecutive weekly draws of a combined 8.3 million barrels.
Coterra Energy Schedules Third-Quarter 2022 Results Conference Call for Friday, November 4, 2022
HOUSTON, ...
HOUSTON, Oct. 18, 2022 /PRNewswire/ -- Coterra Energy Inc. ("Coterra" or the "Company") (NYSE: CTRA) announced it will host a conference call on Friday, November 4, 2022, at 9:00 AM CT (10:00 AM ET) to discuss third-quarter 2022 financial and operating results. The Company plans to announce third-quarter 2022 results after the market closes on Thursday, November 3, 2022.
