Dow ends nearly 400 points higher as tech rally leads stocks to highest close since September
U.S. stocks ended sharply higher Friday, more than shaking off weakness seen in the previous session...
U.S. stocks ended sharply higher Friday, more than shaking off weakness seen in the previous session in the aftermath of a poor Treasury bond auction and fresh signs that interest rates may stay higher for longer.
Technology stocks drove the bounce, with the Nasdaq Composite leading major indexes to the upside as it and the S&P 500 logged their highest finishes since September.
The Dow Jones Industrial AverageDJIA rose 391.16 points, or 1.2%, to close at 34,283.10. The S&P 500 SPX ended with a gain of 67.89 points, or 1.6%, at 4,415.24. The Nasdaq Composite COMP advanced 276.66 points, or 2%, to finish at 13,798.10.
The rally left the Dow with a weekly gainof 0.7%, while the S&P 500 advanced 1.3% and the Nasdaq booked a rise of 2.4%. The Dow saw its highest close since Sept. 20, while the S&P 500 ended at its highest since Sept. 19 and the Nasdaq at its highest since Sept. 14.
The energy sector is moving higher this morning, supported by strength in the crude...
The energy sector is moving higher this morning, supported by strength in the crude complex and in the major equity futures. Wall Street futures inched higher as investors assessed Federal Reserve Chair Jerome Powell's hawkish commentary and looked forward to key economic data next week for more cues on the monetary policy path.
WTI and Brent crude oil futures are trading higher for the second-consecutive session due to comments made by the US Fed Chair on more interest rate hikes and on Israel's ongoing attacks on Gaza, fueling supply fears. However, weakening China's Price Index, which fell 2.7 percent yearly and 0.2 percent monthly in October, and the rise in US crude oil stockpiles by an estimated 11.9 million barrels limited price upswings. Meanwhile, OPEC+ is set to meet on Nov. 26 to establish production policy, and the focus will be on whether Saudi Arabia extends a 1 million barrel-per-day voluntary cut set to expire at the end of this year.
Natural gas futures slid for the fifth-straight day on record output and forecasts for mild weather through late November that should limit heating demand and allow utilities to keep injecting gas into storage for a couple more weeks.
Are the markets observing Veterans Day on Friday? What about USPS and banks?
There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed,...
There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed, exactly?
It’s a question spurring plenty of Google searches. Saturday, Nov. 11, marks Veterans Day, a federal holiday in which Americans recognize those who have served in the U.S. armed forces.
In some instances, businesses and offices will have revised operating hours on Friday as well as on Saturday.So if you’re wondering whether banks, post offices, federal offices or the stock market will be running as usual on Friday, MarketWatch has you covered. READ MORE [Note: Almost everything is open on Friday, with limited exceptions]
Midland's beleaguered school system gets $1.4B relief
Residents in Midland, Texas, have voted in favor of the Midland...
Residents in Midland, Texas, have voted in favor of the Midland Independent School District's $1.4 billion bond sale proposal to revamp the city's strained education infrastructure. Oil companies endorsed the proposal, with Diamondback Energy Chief Financial OfficerKaes Van't Hof calling the vote's outcome an "accomplishment [that] will benefit future generations of this town for decades to come."
Oil, gas firms oppose Holtec plan for N.M. waste storage
Concho Resources, Diamondback Energy, Fasken Oil and Ranch, and Occidental Petroleum, along with other...
Concho Resources, Diamondback Energy, Fasken Oil and Ranch, and Occidental Petroleum, along with other oil and gas companies and local governments, have signed a letter from the Permian Basin Coalition that opposes Holtec International's proposal to build a temporary nuclear waste storage facility near the cities of Carlsbad and Hobbs, N.M. The organizations want Sen. Martin Heinrich, D-N.M., to pursue legislation to block the proposal.
