U.S. stocks finish lower ahead of April inflation data
U.S. stocks ended lower Tuesday as investors awaited a key inflation reading and fretted over...
U.S. stocks ended lower Tuesday as investors awaited a key inflation reading and fretted over the debt ceiling, while regional bank stocks saw renewed pressure. The April consumer-price index reading is due Wednesday morning, while a meeting between President Joe Biden and congressional leaders late Tuesday afternoon wasn’t expected to produce a breakthrough on the debt ceiling. The SPDR S&P Regional Banking ETFKRE fell 0.4%. The Dow Jones Industrial Average DJIA fell around 57 points, or 0.2%, to end near 33,562, according to preliminary figures, while the S&P 500 SPX declined 0.5% and the Nasdaq Composite COMP lost 0.6%.
No debt-limit breakthrough forecast as Biden hosts party leaders at White House
As President Joe Biden prepares to host a much-anticipated meeting on the U.S. debt ceiling with the...
As President Joe Biden prepares to host a much-anticipated meeting on the U.S. debt ceiling with the country’s four top lawmakers, analysts are predicting there won’t be a deal yet on this issue.
If the meeting at the White House, scheduled for around 4 p.m. Eastern time Tuesday, were to conclude with an agreement, that would be very surprising, said Chris Krueger, managing director at TD Cowen’s Washington Research Group, in a note on Tuesday.
The best-case outcome from the parley would be a “short-term punt,” Krueger said, referring to a limited suspension of the federal borrowing limit to provide the Biden administration and Congress with more time to come up with a long-term solution.
The energy sector is set for a lower start, tracking losses in crude contracts...
The energy sector is set for a lower start, tracking losses in crude contracts and the broader market futures. U.S equities are down in the pre-market amid downbeat earnings forecasts from Skyworks and PayPal and as investors await key inflation data tomorrow. Earnings continued across the energy sector, with several operators reporting 1Q results, capex, production, and updated guidance.
WTI and Brent crude oil futures are lower on weak Chinese trade data and as market participants remain cautious ahead of the release of April CPI data. China’s crude oil imports fell in April to their lowest level since January as high inventories, refinery maintenance and a weaker domestic economic rebound weighed on demand. Elsewhere, wildfires in Alberta Canada are lending support as the events have forced energy producers to shut in at least 280K bpd, or more than 3% of the nation’s output.
Berkshire not seeking control of Occidental Petroleum
Warren Buffett said that Berkshire Hathaway doesn't plan on taking full control of Occidental Petroleum....
Warren Buffett said that Berkshire Hathaway doesn't plan on taking full control of Occidental Petroleum. "There's speculation about us buying control... We're not going to buy control," the 92-year-old legendary investor said at Berkshire's annual shareholder meeting in Omaha, Nebraska on Saturday.
US stock futures fall early Tuesday, as traders brace for a week of key inflation reports. April's...
US stock futures fall early Tuesday, as traders brace for a week of key inflation reports. April's consumer price index report is due Wednesday, while the producer price index data is scheduled for Thursday.  Check out the latest market moves.
Earnings on deck: Airbnb, Twilio, and Aramco, are all reporting.
