S&P 500 books 3rd straight weekly gain as U.S. stocks notch down Friday
U.S. stocks closed mostly lower Friday as technology stocks slumped,...
U.S. stocks closed mostly lower Friday as technology stocks slumped, but major equity indexes still rose for the week.
The Dow Jones Industrial Average eked out a less than 0.1% gain Friday, while the S&P 500 fell 0.2% and the technology-heavy Nasdaq Composite shed 0.2%, according to preliminary data from FactSet. The S&P 500’s tech sector finished 0.8% lower Friday.
The preliminary data show that for the week, the Dow climbed around 1.5%, the S&P 500 rose 0.6%, and the Nasdaq finished about flat. The S&P 500 logged a third straight week of gains.
A report by the U.S. Energy Information Administration points out that...
A report by the U.S. Energy Information Administration points out that U.S. refinery capacity grew by 2% last year, or 324,000 barrels a day, according to the recently published Refinery Capacity Report.
The 2% increase marks the second consecutive year of U.S. refinery capacity growth, but the 18.4 million-b/d capacity as of the beginning of 2024 remained slightly less than the record of 19.0 million b/d set on January 1, 2020.
Much of the increase in U.S. refining capacity in 2023 was due to a 240,000-b/d expansion project at ExxonMobil’s Beaumont refinery in Texas, which brought the refinery’s capacity to 609,000 b/d.
Ukraine has been systematically targeting Russian energy infrastructure...
Ukraine has been systematically targeting Russian energy infrastructure to try to disrupt Russia’s economy and its ability to fund its military efforts. Ukrainian officials say attacks have been carried out in retaliation for Russian strikes on the Ukrainian energy system.
Oil, gas companies adapt to stricter methane rules
As federal and state methane emissions regulations tighten, oil and natural...
As federal and state methane emissions regulations tighten, oil and natural gas companies face the imperative to improve data collection and adopt advanced technologies such as optical gas imaging cameras, continuous monitoring, aerial surveillance and satellite detection, experts said during the SUPER DUG Conference & Expo. However, the complexity of these regulations and the often slow and cumbersome approval process for new technologies threaten to hinder timely compliance and increase operational costs.
SCOTUS upheld a tax on foreign income. The Supreme...
SCOTUS upheld a tax on foreign income. The Supreme Court’s 7–2 ruling to validate a Trump-era tax provision on US businesses’ foreign profits was overshadowed by a decision it didn’t make on the wealth tax. Experts thought the court might use the foreign income case to preemptively rule on the constitutionality of a tax on Americans’ net worths, which the Biden administration and other Democrats have proposed. But the justices made a narrow ruling, punting on the wealth tax issue for now. Some saw that as a win for Biden, as it keeps alive the possibility of a tax on wealthy Americans’ estates. The court still has a number of significant cases to decide this session, including one on Trump’s demand for total immunity.
McDonald’s announced that its $5 meal deal—a McDouble or McChicken sandwich, small fries, four-piece Chicken McNuggets, and small soft drink, all for five bucks—will launch on June 25 for a limited time.
Sony Music bought the Queen music catalog for ~$1.3 billion, making it one of the most valuable rock songbooks.
Rapper Travis Scott was arrested yesterday in Miami on charges of trespassing and disorderly intoxication.
Snap agreed to pay $15 million to settle a gender discrimination lawsuit that alleged the social media platform paid women less and offered them fewer promotions.
The Los Angeles Lakers reportedly hired former NBA player and current podcaster JJ Redick to be its next head coach, despite his having no coaching experience.
