U.S. stocks finish lower as investors await Tesla, Alphabet earnings
U.S. stocks finished lower on Tuesday as investors awaited earnings reports...
U.S. stocks finished lower on Tuesday as investors awaited earnings reports from Google parent Alphabet Inc. and electric-car maker Tesla Inc. after the closing bell.
According to FactSet data, the Dow Jones Industrial Average finished 57.35 points lower, or 0.1%, at 40,358.09.
The S&P 500 ended down 8.67 points, or 0.2%, to finish at 5,555.74.
The Nasdaq Composite shed 10.22, or 0.1%, ending at 17,997.35.
Small-cap stocks gained on Tuesday as a rotation out of megacap technology companies gathered more steam.
The Russell 2000 finished 1% higher on Tuesday to score its ninth move of 1% or move in the last 10 trading days. The last time the small-cap index moved 1% or more in at least nine of 10 trading days was March 23, 2023, according to Dow Jones Market Data.
After the closing bell, alphabet and Tesla were scheduled to report their quarterly results.
Bechtel Energy to build 2nd phase of Texas LNG terminal
Bechtel Energy has been signed to build the second phase of Sempra Infrastructure's...
Bechtel Energy has been signed to build the second phase of Sempra Infrastructure's Port Arthur, Texas, LNG export terminal, according to Sempra. Under the fixed-price agreement, Bechtel will be responsible for detailed engineering, procurement, construction, commissioning, startup, performance testing and operator training for the project, which is expected to produce 13 million metric tons of LNG annually.
Biden's pause not taking the wind out of US LNG's sails
US liquefied natural gas contracting remained robust in the first half...
US liquefied natural gas contracting remained robust in the first half of 2024, nearly equaling the previous year's level of activity despite the Biden administration's halt on new export approvals. US LNG exports also continued to expand, from 41.3 million tons in early 2023 to 42.7 million tons in the first six months of this year, Kpler data show.
Delta struggles to bounce back from the global IT outage
While other airlines were mostly back to normal yesterday...
While other airlines were mostly back to normal yesterday following the global IT fallout from CrowdStrike’s faulty software update, Delta was still stuck like a passenger on a canceled flight. The airline canceled at least 900 flights yesterday, accounting for about two-thirds of all cancellations worldwide (including most canceled US flights). The airline has been singled out by Transportation Secretary Pete Buttigieg, who said his agency received hundreds of complaints about Delta, and Delta’s CEO apologized to affected passengers. Delta’s difficulties stem from the outage impacting its crew tracking system, the same system that bedeviled Southwest when it stumbled after a storm.
Secret Service director refused to answer big questions before...
Secret Service director refused to answer big questions before Congress. Republicans and Democrats might not agree on much, but they were united yesterday, with lawmakers from both parties calling for Secret Service Director Kimberly Cheatle’s resignation. While testifying before the House oversight committee for more than four hours, Cheatle said she accepted responsibility for the failures that led to the attempted assassination of Donald Trump but declined to answer many questions seeking specifics about what had happened, citing an ongoing investigation.
Warner Bros. Discovery isn’t letting basketball go without a fight—the company said it plans to exercise its matching rights on Amazon’s prospective NBA broadcast deal, potentially setting up a legal battle with the league.
AMC struck a deal to restructure up to $2.45 billion of its debt, a win for the theater chain beloved by Reddit’s stock-pickers.
Ryanair said lower fares are coming after the budget European airline reported a 46% dip in profits last quarter.
Krispy Kreme sold its majority stake in dorm-room snack staple Insomnia Cookies but is holding onto a minority stake.
Priscilla Presley sued four of her former business partners, accusing them of elder abuse and plotting to steal “every last penny she had.”
A Florida man who called himself the “Wolf of Airbnb” was sentenced to more than four years in prison for defrauding landlords in NYC and a federal pandemic-relief program.
