Dow closes lower, while Big Tech powers S&P 500 and Nasdaq to gains
U.S. stocks ended mostly higher on Monday, with Big Tech...
U.S. stocks ended mostly higher on Monday, with Big Tech stocks lifting the Nasdaq Composite, after OpenAI and Amazon.com Inc. on Monday announced a $38 billion deal to utilize Amazon's computing power to power OpenAI's artificial intelligence-related workloads.
Investors will also be watching Palantir Technologies Inc.'s third-quarter earnings report after the closing bell.
The Dow Jones Industrial Average went down 226.19 points or 0.5% to end at 47,336.68, according to Dow Jones Market Data.
The S&P 500 edged up 11.77 points or 0.2% to finish at 6,851.97.
The Nasdaq Composite rose 109.77 points or 0.5% to close at 23,834.72.
Both the S&P 500 and the Nasdaq Composite logged back-to-back gains.
BP Sells Large Stakes in Permian, Eagle Ford Midstream to Sixth Street for $1.5B
BP Plc has agreed to sell non-controlling...
BP Plc has agreed to sell non-controlling Permian Basin and Eagle Ford Shale midstream assets to private global investment firm Sixth Street for $1.5 billion.
BP said early Nov. 2. the agreement will unlock while its U.S. upstream oil and gas business, BPX Energy, retains operatorship and control of strategic midstream assets
The transaction comes as the major looks to pay down debt and, by year-end 2027, reach a targeted divestment of $20 billion.
After the transaction closes, BPX’s ownership interest in the Permian midstream assets will drop to 51% from 100%. BPX’s ownership interest in the Eagle Ford midstream assets will fall to 25% from 75%.
Sixth Street will hold the remaining, non-operating interests.
🏛️Government shutdown enters fifth week, with more consequences
More than 65,000 children are at risk of ...
More than 65,000 children are at risk of losing access to Head Start, the national childcare and early childhood learning program for low-income families, as more funding lapses hit centers in multiple states. Local Head Start programs receive their annual funding at different times of the year. Those who receive their annual budget on Oct. 1 have already been disrupted. Now, those scheduled to receive funding on Nov. 1 have been impacted, as will those with Dec. 1 funding dates if the shutdown continues. And yesterday, on CBS’s Face the Nation, Transportation Secretary Sean Duffy said that he would not fire air traffic controllers who do not show up to work without pay during the government shutdown, and “We will slow traffic down, you’ll see delays, we’ll have flights canceled to make sure the system is safe” if there aren’t enough ATCs to cover shifts. And on CNN’s State of the Union, Treasury Secretary Scott Bessent said that the Trump administration “could” make SNAP payments by Wednesday. If the shutdown continues until Wednesday, it will be the longest ever.
President Trump’s tariffs are before the Supreme Court
Justices will hear arguments on Wednesday over whether the bulk of the president’s sweeping tariffs...
Justices will hear arguments on Wednesday over whether the bulk of the president’s sweeping tariffs pass legal muster. The US Constitution says it’s up to Congress to set taxes and duties, but the White House argues that trade deficits with other countries are a national emergency, and that clears the way for the president to have broad tariff powers. If the court ends up ruling against the administration, it won’t wipe away all of Trump’s tariffs, but it could water down one of his most powerful trade weapons.
Election Day is Tuesday: The Big Apple looms especially...
Election Day is Tuesday: The Big Apple looms especially large in politics this week as democratic socialist Zohran Mamdani and former Democratic Governor Andrew Cuomo (running as an independent) vie for New York City mayor. Keep an eye on Republican Curtis Sliwa, who could play spoiler in the race, which has been billed as a fight for the future of the Democratic Party. Elsewhere in the country, gubernatorial races are taking place in New Jersey and Virginia, a redistricting measure is on the ballot in California, and a special election is being held in Texas to fill its 18th Congressional District. The district, which represents the Houston area, is predominantly Democratic.
A Michigan lawyer representing one of the young people suspected of plotting a Halloween weekend terrorist attack by FBI Director Kash Patel disputed the allegations and said he doesn’t expect charges to be filed.
In a 60 Minutes interview, President Trump said that he has received assurances from Xi Jinping that China will not intervene in Taiwan while Trump is in office.
New Mexico launched free childcare for all, a first for a US state.
Martha Stewart is releasing a facsimile edition of her first book, Entertaining, from 1982, to capitalize on Gen Z’s interest in her.
Fast-casual dining is experiencing a fallout due to economic conditions. And maybe also Martha?
