“Things aren’t that bad” was the main takeaway from Delta’s quarterly...
“Things aren’t that bad” was the main takeaway from Delta’s quarterly earnings report yesterday. The airline reinstated its annual forecast, which it had pulled in April as a result of economic uncertainty. The new outlook isn’t as rosy as it once was, but it was enough to push Delta’s stock up and give airlines some much-needed optimism (United, American, and Southwest all jumped yesterday, too). Delta CEO Ed Bastian said consumers have become “a little numb” to tariff talk and are booking travel for later in the year, rather than holding off entirely. United and American report their earnings next week with hopes of adding to the sector’s momentum.
Musk says Grok is coming to Teslas by next week. Grok,...
Musk says Grok is coming to Teslas by next week. Grok, Elon Musk’s AI chatbot that had to be briefly shut down this week because it called itself “MechaHitler” as part of an antisemitic posting spree, will be available in Tesla vehicles by “next week at the latest,” the billionaire said yesterday. The news came shortly after xAI released Grok 4, the latest iteration of the chatbot that seemingly recommended a second Holocaust. Musk hopes integrating Grok into Teslas will help the company compete with automakers that already feature ChatGPT voice assistants, like Volkswagen.
Bitcoin notched another all-time record yesterday, beating the previous record that was set...two days ago.
Goldman Sachs plans to ask junior bankers to certify their loyalty every three months in order to prevent poaching by private equity firms, Bloomberg reported.
The video game strike officially ended after 11 months this week when SAG-AFTRA members voted to ratify a new contract for performance capture and voice actors.
Car trips to the US by Canadians plummeted 33% last month as some Canucks avoid the country in light of the White House’s threats to their sovereignty.
Oasis concert venues are beefing up security after videos giving advice on how to sneak into the reunion tour went viral on TikTok.
(Reuters) - Oil prices fell more than 2% on Thursday,...
(Reuters) - Oil prices fell more than 2% on Thursday, as investors weighed the potential impact of U.S. President Donald Trump'stariffs on global economic growth.
Brent crude futures settled at $68.64 a barrel, down $1.55,or 2.21%. U.S. West Texas Intermediate crude finished at $66.57 a barrel, down by $1.81,or 2.65%.
On Wednesday, Trump threatened Brazil, Latin America's largest economy, with a punitive 50% tariff on exports to the U.S., pressuring his Brazilian counterpart Luiz Inacio Lula da Silva over Brazil's trial of former President Jair Bolsonaro over charges of plotting a coup to stop Lula from taking office in 2023.
Higher interest rates make borrowing more expensive and can slow demand for oil.
OPEC+ oil producers are set to approve another big output boost for September, as they complete unwinding voluntary production cuts by eight members and the United Arab Emirates' move to a larger quota.
However, OPEC+ indicated it may pause output hikes in October because of a possible peak in oil demand, said Phil Flynn, senior analyst with Price Futures Group.
Two of three major U.S. stock market indexes closed at...
Two of three major U.S. stock market indexes closed at record levels of Thursday, as investors counted on corporate earnings to prevail over inflation risks and President Trump's tariffs.
The S&P 500 ended roughly 0.3% higher at about 6,280, a fresh record close, according to preliminary data.
The Nasdaq Composite gained about 0.1% to end near 20,630, also a record close.
The Dow Jones Industrial Average added about 0.4%.
EIA Backs up API With Shocking Rise of US Crude Oil Inventories
Crude oil inventories in the United States increased...
Crude oil inventories in the United States increased by 7.1 million barrels during the week ending July 4, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 426 million barrels, still 8% below the five-year average for this time of year.
The American Petroleum Institute (API) on Tuesday estimated a surprise 7.1-million-barrel build for the week ending July 4 after analysts had estimated a 2.8-million-barrel draw.
For total motor gasoline, the EIA reported a decline of 2.7 million barrels, with daily production rising to 9.9 million barrels. For middle distillates, inventories dipped by 800,000 barrels, with production increasing to 5.1 million barrels daily. Distillate inventories are now 23% below the five-year average.
Additionally, stocks at the Cushing, Oklahoma, delivery hub decreased by 464 thousand barrels.
