Dow sheds 170 points, stocks post losses as bond selloff resumes
Stocks closed lower on Thursday for the first time in five sessions...
Stocks closed lower on Thursday for the first time in five sessionsas a selloff in U.S. bonds resumed and a gauge of consumer prices came in hotter in September than expected. The Dow Jones Industrial AverageDJIA shed about 173 points, or 0.5%, ending near 33,631, according to preliminary FactSet data. The S&P 500 IndexSPX shed 0.6% and the Nasdaq Composite Index COMP also fell 0.6%. A resumed selloff in longer-duration government bonds was viewed as pressuring stocks lower, with yields on the 10-year Treasury TMUBMUSD10Y and 30-year Treasury note securing their biggest daily gains in more than a week.
U.S. and Qatar Block Iran’s Access to $6 Billion From Prisoner Deal
The United States and Qatar...
The United States and Qatar have agreed to block Iran’s access to $6 billion in funds recently transferred to the nation as part of a deal between Washington and Tehran that led to the release of five imprisoned Americans from Iran last month.
Wally Adeyemo, the deputy Treasury secretary, told House Democrats on Thursday that Iran would no longer have access to the funds, according to a person familiar with the matter. The money was under close supervision and strict conditions that it be used only for humanitarian purposes.
U.S. sanctions two entities and vessels for allegedly violating Russian oil price caps
The U.S. government Thursday sanctioned two entities and identified two vessels as blocked property for...
The U.S. government Thursday sanctioned two entities and identified two vessels as blocked property for alleged violation of Russian crude oil price caps. Both the vessels named in the sanctions used U.S.-based service providerswhile transporting Russian-origin oil, according to Treasury.
The Treasury Department announced the penalties against Lumber Marine SA and Ice Pearl Navigation Corp for carrying crude oil priced above the $60 per barrel cap that was imposed in December 2022 by a coalition of nations including the United States, the EU, G7 nations and Australia. READ MORE
Key measures of consumer prices cooled in September
American consumers experienced more moderate...
American consumers experienced more moderate price increases across several key measures in September as costs climbed only gradually across a range of goods and services, the latest evidence that inflation is continuing to fade toward the Federal Reserve’s goal.
The Consumer Price Index climbed 3.7 percent from a year earlier, a report released Thursday showed. That matched the August reading, and it was slightly higher than the 3.6 percent that economists had predicted.
EIA: US crude oil exports soared in first half of 2023
The US exported an average 3.99 million barrels per day of crude oil in the first six months of 2023,...
The US exported an average 3.99 million barrels per day of crude oil in the first six months of 2023, marking a 19% increase from the same period last year, as well as the highest first-half level since 2015, according to the Energy Information Administration. Europe and Asia were the top destinations for US oil, collectively accounting for 3.43 million bpd of the exported volumes.
