Dow ekes out 3rd straight day of gains, while S&P 500 retreats from record high
U.S. stocks finished mixed on Wednesday as investors digested gains from...
U.S. stocks finished mixed on Wednesday as investors digested gains from the previous session that had propelled the S&P 500 to its 17th record high of the year.
The Dow Jones Industrial AverageDJIA closed up by 0.1% at roughly 39,044, based on preliminary data. It had risen by almost 200 points to an intraday high of 39,201.94 earlier in the day.
The S&P 500SPX ended down by 0.2% at around 5,165.
The Nasdaq Composite COMP finished 0.5% lower at around 16,178.
On Tuesday,the three stock indexes had booked their largest one-day point and percentage gains since Feb. 22, according to Dow Jones Market Data. The S&P 500 added 1.1% to close at 5,175.27, while Dow industrials rose 0.6% and the Nasdaq climbed 1.5%.
Biden and Trump clinch nominations, setting up election rematch
WASHINGTON — President Joe Biden and former President Donald Trump...
WASHINGTON — President Joe Biden and former President Donald Trump clinched their parties’ presidential nominations Tuesday with decisive victories in a slate of low-profile primaries, setting up a general election rematch that many voters do not want.
There is no longer any doubt that the fall election will feature a rematch between two flawed and unpopular presidents. At 81, Biden is already the oldest president in U.S. history, while the 77-year-old Trump is facing decades in prison as a defendant in four criminal cases. Their rematch — the first featuring two U.S. presidents since 1912 — will almost certainly deepen the nation’s searing political and cultural divides over the eight-month grind that lies ahead.
Carbon capture and storage activities are making headway in East Texas,...
Carbon capture and storage activities are making headway in East Texas, with Chevron and Verde CO2 joining a growing list of companies that are drilling test wells and securing land deals. Enverus analyst Brad Johnston estimates break-even costs of $60 to $70 per ton for CCS projects in the Houston area, which would put profitability within reach when $85 per ton Inflation Reduction Act subsidies are factored in.
The Electricity Transmission Competition Coalition charged that the latest...
The Electricity Transmission Competition Coalition charged that the latest inflation data release confirms that electricity prices continue to outpace the Consumer Price Index with electricity prices increasing by 3.6% compared to 3.2% for the CPI over the last 12 months. With the Federal Energy Regulatory Commission (FERC) poised to finalize its transmission planning rule as early as next month, the latest inflationary data should remind them of the importance of competition for new transmission projects.
Paul Cicio, Chair of the Coalition called the report “especially damning because electricity generation costs have fallen due to low natural gas prices, but transmission costs continue to accelerate.”
Crude oil inventories in the United States fell this week by 5.521 million barrels for the week ending March 8, according to The American Petroleum Institute (API), largely contradicting analysts, who had predicted a 0.4 million barrel build. The API reported a 423,000-barrel rise in crude inventories in the week prior.
Cushing inventories rounded out the losses this week, falling 998,000 barrels after rising by 500,000 barrels in the previous week.
