Dow posts longest winning streak in nearly 6 years; Nasdaq slumps over 2%
U.S. stocks finished mostly lower Thursday, with the...
U.S. stocks finished mostly lower Thursday, with the Nasdaq and S&P 500 dragged down by disappointing earnings, while the Dow Jones Industrial Average rose for a ninth straight day for its longest winning streak in nearly six years.
The S&P 500 SPX fell 30.85 points, or 0.7%, to close at 4,534.87.
The Dow DJIA rose 163.97 points, or 0.5%, to finish at 35,225.18. The winning streak is its longest since a nine-day run that ended on Sept. 20, 2017, according to Dow Jones Market Data.
The Nasdaq Composite COMP ended at 14,063.31, down 294.71 points, or 2.1%.
The US bought around 825,000 barrels per day of Mexico's heavy...
The US bought around 825,000 barrels per day of Mexico's heavy Maya sour crude in June, the highest volume since November 2015, and is set to import another roughly 770,000 bpd this month,according to data. Rising global demand for sour crudes in the wake of OPEC+ production cuts has heightened interest in Mexico's oil grades, offering the US a strategic advantage due to its geographical proximity to the country.
The severance tax debate has resurfaced in Pennsylvania after...
The severance tax debate has resurfaced in Pennsylvania after the state House approved a resolution directing a nonpartisan committee to examine severance tax structures in other gas-producing states.While advocates argue for the merits of a severance tax on gas production, the American Petroleum Institute of Pennsylvania opposes any additional taxes on the natural gas industry, emphasizing the need for policies that promote economic competitiveness and attract investment.
HighPeak Plans $135.5MM Stock Offering to Stave Off Liquidity Crunch
HighPeak Energy Inc. seeks to raise millions of dollars through...
HighPeak Energy Inc. seeks to raise millions of dollars through a public offering to shore up its near-term liquidity.
The Midland Basin E&P priced an underwritten public offering to raise $135.5 million, before deducting discounts, commissions and other expenses, HighPeak said in a July 19 press release. The company plans to offer 12.9 million shares priced at $10.50 each. The offering is expected to close on July 21.
Russia intensified its assault on Ukraine’s food exports, attacking port facilities in Odesa and warning other countries that bypassing its Black Sea blockade would be an act of war.
The head of MI6, Britain’s spy agency, said Vladimir Putin had “cut a deal” with the Wagner group leader Yevgeny Prigozhin during last month’s rebellion to save face.
Ukraine allows soldiers displaced by Russia’s invasion to join the fight to liberate their hometowns.
