MarketWatch: Dow ends up 430 points Tuesday, after Fed's Powell says a 'softish' economic landing is possible
U.S. stocks finished sharply higher Tuesday after Federal Reserve Chairman Jerome Powell said a "softish...
U.S. stocks finished sharply higher Tuesday after Federal Reserve Chairman Jerome Powell said a "softish landing" for the economy still was possible. The Dow Jones Industrial Average DJIA, 1.34% advanced about 431 points, or 1.3%, ending near 32,655, up for a third straight day in a row. It also marked the biggest daily percentage jump for the blue-chip index since its 1.5% gain on Friday, according to FactSet. The S&P 500 index SPX, 2.02% rose 2%, while the Nasdaq Composite Index COMP, 2.76% closed 2.8% higher. Powell said there are a number of plausible paths to slowing inflation without sparking a recession, even if it causes Americans some pain, while speaking in an afternoon talk at The Wall Street Journal's Future of Everything event. U.S. retail sales also painted a picture of a healthy economic backdrop, rising 0.9% in April, slightly below the 1% advance forecast by economists surveyed by The Wall Street Journal. But shares of Walmart Inc. WMT, -11.35% shed more than 11% after the retail giant reported fiscal first-quarter profit that missed expectations.
The energy sector is pointing to a higher start, backed by some mild strength in the crude complex and...
The energy sector is pointing to a higher start, backed by some mild strength in the crude complex and major equity futures which were sharply higher this morning as the market tried to bounce after a punishing bear market for the tech-heavy Nasdaq and a 19% pullback for the S&P 500.
WTI and Brent crude oil futures extended their advance this morning for the fifth consecutive session, touching their highest mark in seven weeks. Futures are supported by the European Union's ongoing push for a ban on Russian oil imports that would tighten supply and as investors focused on higher demand from an easing of China's COVID lockdowns.
Natural gas futures carried over yesterday’s rally into this morning’s session, backed by higher European prices keeping U.S. LNG exports strong even though Europe has more gas in storage compared with normal than the United States.
West Texas rancher pours $2 million into Sarah Stogner’s campaign for oil and gas board seat
Ashley Watt, who owns a 75,000-acre ranch in the Permian Basin, is helping bankroll...
Ashley Watt, who owns a 75,000-acre ranch in the Permian Basin, is helping bankroll a substantial TV ad buy in the final two weeks before Sarah Stogner faces the Railroad Commission’s chair, Wayne Christian, in the runoff.
It is another striking twist in a race that Stogner, an oil and gas attorney, previously shook up in the primary when she released a campaign ad of herself riding a pumpjack nearly naked.
🔥From Twitter: Permian natural gas production volumes up
Permian natural gas production averaged...
Permian natural gas production averaged 14.96 Bcf/d last week, about 0.2 Bcf/d ahead of our forecast for May. Gas volumes are up about 2 Bcf/d when compared to this time last year. https://t.co/OVoZv7k72Qpic.twitter.com/7JcGLU37kv
West Texas Intermediate crude for June delivery,...
West Texas Intermediate crude for June delivery, considered the benchmark U.S. price, rose $3.71 or 3.36% and closed at $114.20 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for July delivery went up $2.69 or 2.41% and finished the day at $114.24 a barrel on ICE Futures Europe.
June natural gas rose 30 cents or 3.82% to $7.96 per 1,000 cubic feet.
