S&P 500 books weekly loss as U.S. stocks fall on Trump’s Feb. 1 tariffs
Major U.S. stock indexes ended down Friday, after the...
Major U.S. stock indexes ended down Friday, after the market appeared startled by confirmation by the White House that President Donald Trump planned to implement new tariffs on Canada, Mexico and China on Saturday.
The Dow Jones Industrial Average dropped 337.47 points Friday, or 0.8%, to close at 44,544.66.
The S&P 500 fell 30.64 points, or 0.5%, to finish at 6,040.53.
The Nasdaq Composite shed 54.31 points, or 0.3%, to end at 19,627.44.
For the week, the S&P 500 fell 1% while the technology-heavy Nasdaq retreated 1.6%. The Dow had a modest weekly gain of 0.3%.
The stock market had been trading up Friday morning ahead of the latest tariff developments, as investors digested an inflation reading that was in line with Wall Street’s expectations. Later in the trading session, Treasury yields rose as investors braced for new tariffs this weekend.
The yield on the 10-year Treasury note climbed 5.1 basis points Friday to 4.566%, according to Dow Jones Market Data. Nearly all the S&P 500’s sectors closed lower Friday as the Cboe Volatility Index, known as Wall Street’s fear gauge, jumped after the tariff developments.
Still, the U.S. stock market closed out January with monthly gains. The Dow rallied 4.7% this month, while the S&P 500 saw a monthly climb of 2.7% and the Nasdaq rose 1.6% in January.
Camino Reportedly Seeking $2B Sale as Midcon M&A Heats Up
Based on reports from January...
Based on reports from January 30, 2025, Camino Natural Resources, a major private oil and gas producer in Oklahoma's Anadarko Basin, is seeking a potential sale that could be worth $2 billion. The company's private equity owner NGP Energy Capital Management has initiated a sales process through RBC Capital Markets. Key details:
Study: Large-scale EOR could bring tax windfall for N.D.
Wider adoption of CO2-enhanced oil recovery could unlock an additional...
Wider adoption of CO2-enhanced oil recovery could unlock an additional 5 to 8 billion barrels of oil from the Bakken Shale in the long term and generate up to $9 billion in new oil tax revenue for North Dakota over the next decade, according to a new report released by state Tax Commissioner Brian Kroshus. However, federal tax policies currently favor permanent CO2 storage over EOR recovery, creating a financial hurdle that state leaders argue must be addressed to attract industry investment.
Enverus: US O&G dealmaking sees 3rd highest total in 2024
US upstream oil and natural gas mergers and acquisitions reached $105...
US upstream oil and natural gas mergers and acquisitions reached $105 billion in 2024, marking the third-highest annual total despite a sharp slowdown in the last quarter of the year, according to Enverus. Gas-focused deals surpassed $20 billion for the first time since 2016, driven by growing LNG demand and expanding power needs. While the Permian Basin dominated dealmaking, mature shale plays such as the Williston Basin and Eagle Ford gained renewed attention as prime Permian targets dwindled.
Apple’s earnings report was a mixed bag. The iPhone-maker...
Apple’s earnings report was a mixed bag. The iPhone-maker reported its fiscal first quarter financials yesterday, and while overall sales were strong ($124.3 billion in revenue, beating estimates), iPhone sales missed the mark. Perhaps the company’s most closely watched figure, iPhone revenue was $69 billion, below expectations of $71 billion. An 11% drop in sales in China, which Apple said was due to production issues, was largely to blame. CEO Tim Cook told CNBC that sales of the smartphone were stronger in countries where Apple’s AI features are available.
MrBeast’s bid to buy TikTok, which includes several other investors, has secured more than $20 billion for the offer, Bloomberg reported.
The DOJ sued to block Hewlett Packard’s $14 billion purchase of Juniper Networks, marking the first antitrust action of President Trump’s second term.
Suni Williams and Butch Wilmore, the NASA astronauts who have been stuck on the International Space Station since June, performed their first spacewalk together yesterday.
SoftBank is reportedly in talks to invest up to $25 billion in OpenAI.
