Tariffs against Canada, Mexico, and China set to begin tomorrow
Barring a last-minute change of heart, the US will ...
Barring a last-minute change of heart, the US will impose 25% tariffs on most imports from its North American neighbors but a smaller 10% tariff on energy products from Canada. Universal tariffs on imports from China will increase another 10% on top of the existing 10% surcharge. Trump said on Thursday that illicit drugs are still coming into the US and the additional taxes will force these countries to crack down on the trafficking.
Donald Trump will address Congress tomorrow night: While...
Donald Trump will address Congress tomorrow night: While it sounds like a State of the Union, it won’t officially be considered one because Trump has only been back in office a short time, and the SOTU is reserved as an annual check-in during a presidency. As for what Trump may discuss, NPR expects him to “revel in his shakeup of Washington” and lay out plans for the next year. The AP believes Trump won’t sound anything like he did in a similar address in 2017 when he declared support for NATO and called for the government to do more for civil rights.
Mardi Gras is on Tuesday, followed by Ash Wednesday.
Hulu streamed the Academy Awards for the first time last night but metaphorically face-planted on the red carpet. Downdetector reported tens of thousands of people unable to access the livestream within the broadcast’s first hour, and the Hulu feed shut down abruptly before the final two awards were announced.
Chipotle CEO Scott Boatwright said the Mexican grill chain would absorb any additional costs that stem from tariffs.
Pope Francis was stable and off mechanical ventilation as of Monday morning. He released a written address on Sunday that said blessing is “hidden within frailty” because his condition allows him to understand the suffering of others.
Polymarket, a predictions market that lets users wager on eyebrow-raising hypotheticals, had taken in almost $600,000 in wagers on the question of “New Pope in 2025?” as of last night, sparking outrage in some corners.
Oil prices post a loss in February as U.S.-Ukraine tensions feed uncertainty
Oil futures declined on Friday, with worries about...
Oil futures declined on Friday, with worries about the global economic outlook and rising trade tensions from the Trump administration’s tariff plans prompting U.S. and global benchmark prices to post their biggest monthly losses since September.
Prices on Friday then finished off at the session’s lowest levels after a tense meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky dashed hopes for a Ukraine-Russia peace deal that might have eventually led to an end to sanctions on Russia’s oil sector.
West Texas Intermediate crude for April delivery fell 59 cents, or 0.8%, to settle at $69.76 a barrel on the New York Mercantile Exchange. Based on the front month, prices lost 0.9% for the week and ended 3.8% lower for the month, according to Dow Jones Market Data.
April Brent crude the global benchmark,declined by 86 cents,or 1.2%, at $73.18 a barrel on ICE Futures Europe, to lose 1.7% for the week and 4.7% for the month. The May contract which is now the front month, fell 76 cents, or 1%, to $72.81 a barrel.
March gasoline lost 1.3% to $1.9703 a gallon, down nearly 3.3% for the month, and March heating oilfell1.7% to $2.3549 a gallon, ending down 5.2% for the month. The March contracts expired at the session’s end.
Natural gas for April delivery settled at $3.834 per million British thermal units, down 2.5% Friday, with prices finishing 26% higher for the month.
U.S. stocks end sharply higher Friday, closing out a rough February
U.S. stocks ended sharply higher Friday, after a choppy...
U.S. stocks ended sharply higher Friday, after a choppy trading session in which investors appeared initially shaken by Ukraine President Volodymyr Zelensky’s tense meeting at the White House.
The Dow Jones Industrial Average rose 601.41 points Friday, or 1.4%, to close at 43,840.91.
The S&P 500 gained 92.93 points, or 1.6%, to finish at 5,954.50.
The Nasdaq Composite climbed 302.86 points, or 1.6%, to end at 18,847.28.
Investors also assessed on Friday the latest inflation reading from the personal-consumption expenditures price index, which was in line with Wall Street’s forecast. U.S. stocks ended the trading session, the last day of February, with a monthly loss as sticky inflation worries and growth concerns weighed on the market.
The Dow fell 1.6% in February, while the S&P 500 saw a monthly drop of 1.4% and the technology-heavy Nasdaq saw a 4% monthly loss. The Nasdaq snapped a three-month winning streak.
BP ramping up fossil fuels, cuts renewables investment
BP has announced a strategic...
BP has announced a strategic shift to increase annual investment in oil and gas to $10 billion through 2027 while reducing spending on renewables to $1.5 billion to $2 billion per year, more than $5 billion below previous guidance. "We will be very selective in our investment in the transition, including through innovative capital-light platforms. This is a reset BP, with an unwavering focus on growing long-term shareholder value," said CEO Murray Auchincloss.
