U.S. stocks open higher, with S&P 500 heading for potential weekly gain
U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all...
U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all three major benchmarks head for potential weekly gains. The Dow Jones Industrial Average DJIA, 0.52% rose 0.4% soon after the opening bell, while the S&P 500 SPX, 0.63% gained 0.5% and the Nasdaq Composite COMP, 0.73% rose 0.7%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the cost of imported goods fell 1.4% in July, the first decline since December and the largest drop since April 2020. Investors will see a reading on 5-year inflation expectations from a University of Michigan survey at 10 a.m. Eastern Time. The S&P 500 is on track for a weekly gain of around 2%.
Working gas in storage was 2,501 Bcf as of August 5, a net increase of 44 Bcf from the previous week,...
Working gas in storage was 2,501 Bcf as of August 5, a net increase of 44 Bcf from the previous week, the EIA estimated in its Weekly Natural Gas Storage Report on Thursday. The net increase last week exceeded expectations of a 39-bcf build gas stocks build in a Reuters poll among analysts.
More natural gas has been available domestically in the U.S. since the outage at the Freeport LNG export terminal in early June, which has allowed more gas to be injected into storage than previously expected.
Natural gas stocks as of August 5 were 268 Bcf less than this time last year and 338 Bcf below the five-year average of 2,839 Bcf. Total working gas is within the five-year historical range, the EIA said.
Benchmark U.S. crude oil for September delivery rose $2.41 to $94.34 a barrel Thursday,...
Benchmark U.S. crude oil for September delivery rose $2.41 to $94.34 a barrel Thursday, while Brent crude for October delivery rose $2.20 to $99.60 a barrel.
Wholesale gasoline for September delivery was unchanged at $3.07 a gallon. September heating oil rose 7 cents to $3.48 a gallon. September natural gas rose 67 cents to $8.87 per 1,000 cubic feet.
Dow ekes out gain Thursday, but stocks end mostly lower in late-session retreat
U.S. stocks closed mostly lower on Thursday as a sharp equity rally that followed cooler inflation data...
U.S. stocks closed mostly lower on Thursday as a sharp equity rally that followed cooler inflation data for July took a breather. The Dow Jones Industrial Average DJIA, +0.08% still gained about 27 points, or 0.1%, ending near 33,337, a day after all three major stock indexes posted their highest close since early May, according to Dow Jones Market Data. The S&P 500 index SPX, -0.07% fell about 0.1% Thursday, closing just above the key 4,200 level, while the Nasdaq Composite Index COMP, -0.58% shed 0.6%, a day after it officially exited a bear market. While investors have cheered signs that surging U.S. inflation may be starting to slow, the risk remains that the Federal Reserve could hike interest rates until the economy buckles as it looks to wrestle inflation back to a more tolerable level. The benchmark 10-year Treasury yield rose 10.6 basis points Thursday to 2.886%, its highest yield in three weeks, according to Dow Jones Market Data. The bond-market bellwether set a high for the year of 3.482% in mid-June and then retreated.
Oil output halted at three Gulf of Mexico platforms on pipeline outage, Shell says
Top U.S. Gulf of Mexico oil producer Shell said it had halted production at three of its U.S. Gulf of...
Top U.S. Gulf of Mexico oil producer Shell said it had halted production at three of its U.S. Gulf of Mexico deepwater platforms after a leak shut pipelines connecting the platforms.
Shell said its Mars, Ursa, and Olympus platforms have been shut-in. The three are designed to produce up to 410,000 barrels of oil per day combined, according to data on the company's website.
The three platforms deliver Mars sour crude, a grade prized by oil refiners in the United States and Asia. Shell said it was evaluating "alternative flow paths" to move the oil to shore via other pipelines
