Dow surges over 560 points as S&P 500 scores biggest gain since April
Stocks soared Thursday as Treasury yields retreated after the Federal Reserve a day earlier signaled...
Stocks soared Thursday as Treasury yields retreated after the Federal Reserve a day earlier signaled a wait-and-see approach to further rate hikes. The Dow Jones Industrial AverageDJIA surged 565 points, or 1.7%, to close near 33,839. The S&P 500SPX advanced 1.9%, for its biggest one-day gains since April 27, while the Nasdaq CompositeCOMP jumped 1.8%.
Natural Gas Futures Drop Ahead of Today's Storage Report.
Natural gas futures extended their slide lower for the second-straight session and are off a further...
Natural gas futures extended their slide lower for the second-straight session and are off a further 2.5% so far this morning, continuing to reel on reports showing record output and forecasts for milder weather over the next two weeks than previously expected. Traders will also be looking to today's storage report which analysts expect to show a build of 81 Bcf.
The energy sector is off to a higher start, backed by strength in both the crude complex...
The energy sector is off to a higher start, backed by strength in both the crude complex and major equity futures which gained this morning as treasury yields continued to fall. With a slew of earnings across the energy sector released this morning and after-market close yesterday, investors will have many data points to digest. Focal points remained capex discipline and shareholder returns, with a number of dividend increases and increased share repurchase totals announced.
Following three consecutive days of declines, WTI and Brent crude oil futures turned higher this morning on positive economic sentiment after the U.S. Federal Reserve again decided to keep benchmark interest rates unchanged. Lingering demand concerns in Europe and China continued to weigh on sentiment and overshadowed supply concerns in the Middle East. While markets remain fixated on the Israeli conflict, crude has now given up its war premium as fears the conflict would spread across the region and disrupt supply have failed to occur, with oil options now pricing in a smaller risk of escalation.
Bank of England matches Fed in holding line on interest rates
By a 6-to-3 vote, the Bank of England voted again to keep interest rates unchanged at 5.25%. Analysts...
By a 6-to-3 vote, the Bank of England voted again to keep interest rates unchanged at 5.25%. Analysts had forecast the vote to be 8-to-1 in favor of no change. Inflation has been coming down faster than the U.K. central bank has projected the last two months, while the economy may have contracted in the September-ending quarter. The Bank of England said, “The current monetary policy stance is restrictive.”
US Greenlights Dominion Energy’s Wind Project Offshore Virginia
The U.S. Bureau of Ocean Energy Management has approved Dominion Energy’s 2.6-gigawatt (GW) Coastal...
The U.S. Bureau of Ocean Energy Management has approved Dominion Energy’s 2.6-gigawatt (GW) Coastal Virginia Offshore Wind project, the largest of five commercial offshore wind developments approved by the U.S. to date, the agency said on Oct. 31.
