From Twitter: Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up
Oil prices dropped 6% on Thursday after...
Oil prices dropped 6% on Thursday after OPEC+ accelerated its plan to increase oil output in May, compounding losses from US President Trump’s new tariffs, with Brent futures falling by $4.51 to $70.44. In today’s OPEC+ ministers’ meeting, countries decided to raise output by… pic.twitter.com/TRRrNnknEZ
Roughly 60 S&P 500 stocks are down 10% or more — that's 12% of the index
Another ominous factoid has arrived courtesy of Farzin...
Another ominous factoid has arrived courtesy of Farzin Azarm, a managing director at Mizuho Americas.
Azarm pointed out in an email shared with MarketWatch that roughly 60 stocks in the S&P 500 were down 10% or more on Thursday. That's 12% of the entire index.
S&P 500 Plunges Over 3% as Markets Reel From Shock of Trump’s Tariffs
Wall Street opened sharply lower on Thursday, following...
Wall Street opened sharply lower on Thursday, following a slump in global markets, after President Trump announced a major round of tariffs on U.S. imports. The world’s biggest economies reacted swiftly to the new levies, which significantly escalated trade tensions with the United States, and some countries warned of retaliation.
For weeks, Mr. Trump said he would impose “reciprocal tariffs” on allies and adversaries. Still, the tariffs announced on Wednesday were far higher than experts had expected, likely driving up prices for American consumers and manufacturers.
Investors flocked to the safety of government bonds as stocks plummeted this morning, pushing up prices and lowering yields, reflecting the interest rate the government pays to borrow from investors. The 10-year yield, which underpins interest rates on things like mortgages and some business loans, is now close to 4 percent, down from nearly 4.8 percent in January.
ConocoPhillips Shopping Marathon's Anadarko Assets for $1B
ConocoPhillips is considering a sale of Midcontinent assets picked up...
ConocoPhillips is considering a sale of Midcontinent assets picked up through its Marathon Oil acquisition last year.
The company said last year that ConocoPhillips assumed approximately 250,000 net acres in the Anadarko Basin through the $22.5 billion Marathon Oil deal, giving the E&P a stronger foothold in U.S. gas.
Production from Marathon’s Oklahoma assets averaged 40,000 boe/d in the third quarter of 2024, according to investor filings. Anadarko gas output averaged 122 MMcf/d.
Tesla vehicle sales fell 13% last quarter. The EV-maker...
Tesla vehicle sales fell 13% last quarter. The EV-maker said it delivered 336,681 vehicles in Q1, making it Tesla’s worst quarter since early 2022. The lackluster sales come amid global backlash against CEO Elon Musk becoming the face of DOGE’s government spending cuts in the US and backing right-wing political parties in Europe, which has sparked protests at Tesla showrooms. The company’s output also took a hit because it partially shut down some factories for upgrades during the quarter to prepare for a Model Y redesign. Plus, it continues to face fierce competition in the Chinese market. Tesla’s stock initially tumbled on the delivery news. Still, it climbed after Politico reported that Musk may soon be leaving his position at DOGE, freeing up more of his time to focus on his businesses.
The Supreme Court unanimously backed the FDA’s decision to refuse to authorize the sale of fruit-flavored vapes due to concerns about their popularity with teens.
Israel said it planned to seize “large areas” of land in Gaza.
UFC and Meta have reached a multimillion-dollar, multiple-year sponsorship deal.
A former employee of Rippling has admitted to spying on behalf of rival HR software company Deel, according to court documents.
Voter turnout was higher in every county in Wisconsin during Tuesday’s Supreme Court election than in the state’s last one after Elon Musk brought national attention to the race by supporting the conservative candidate, who ultimately lost.
Val Kilmer, known for his roles in “Top Gun,” “Batman Forever,” and “The Doors,” has died at age 65.
