Dow ends up 235 points as U.S. stocks climb ahead of Trump’s tariff announcement
All three major U.S. stock indexes closed higher on Wednesday...
All three major U.S. stock indexes closed higher on Wednesday after shaking off a lower open, with investors and traders tuning into President Donald Trump's announcement of reciprocal tariffs.
The Dow Jones Industrial Average rose 235.36, or almost 0.6%, to 42,225.32, based on preliminary data.
The S&P 500 rose 37.90 points, or 0.7%, to 5,670.97.
The Nasdaq Composite climbed 151.16 points, or 0.9%, to 17,601.05.
Excelerate to Buy LNG, Power Assets from New Fortress for $1.055B
Excelerate Energy has agreed to buy New Fortress Energy’s (NFE) Jamaica...
Excelerate Energy has agreed to buy New Fortress Energy’s (NFE) Jamaica LNG assets, including an import terminal in Montego Bay and power infrastructure business, for $1.055 billion cash, the companies said March 27.
The deal provides Excelerate, based in The Woodlands, Texas, with exposure to the natural gas market in the Atlantic basin. It includes NFE’s offshore floating storage and regasification terminal in Old Harbour, a 150 megawatt combined heat and power plant in Clarendon, and associated infrastructure.
Waterous Raises $1B PE Fund for Canadian Oil, Gas Investments
Waterous Energy Fund (WEF) closed its third private equity fund at CA$1.4...
Waterous Energy Fund (WEF) closed its third private equity fund at CA$1.4 billion (~US$1 billion).
The Calgary-based firm said March 31 that with the third fund, Waterous Energy Fund III, it will continue to focus on investment in the Canadian oil and gas sector.
To date, WEF III has invested about a third of its capital in Greenfire Resources Ltd., a producer in the Athabasca oil sands. WEF also backs Canadian E&P Strathcona Resources, which operates thermal oil, heavy oil and shale assets.
According to WEF's website, between 2017 and 2023, WEF invested about CA$2 billion (US$1.4 billion) in 10 acquisitions to build Strathcona Resources.
OpenAI closes record $40 billion funding round. Led...
OpenAI closes record $40 billion funding round. Led by Japan’s SoftBank, the round—the largest ever private tech deal, per CNBC—increases OpenAI’s valuation to $300 billion. That puts the AI behemoth behind only SpaceX as the most valuable private company in the world, less than a decade after it was founded. Almost half of the new funding will be used for Stargate, a joint venture announced by President Trump earlier this year to boost the US’ AI infrastructure. The cash injection reportedly hinges on OpenAI fulfilling its pledge to become a for-profit company.
Twenty-three Democrat-led states sued the Trump administration, alleging that its $11 billion in cuts to public health funding was illegal.
The Trump administration acknowledged that an innocent man was mistakenly deported to El Salvador due to a clerical error, but said it does not have the power to bring him back to the US.
Airline stocks fell yesterday after analysts downgraded several carriers due to weakening travel demand.
The NFL voted to change its regular-season overtime rules so that both teams will get an offensive possession.
Oil eases off five-week highs as traders weigh impact of imminent Trump tariffs
Oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that U.S....
Oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that U.S. President Donald Trump is due to announce on Wednesday. These tariffs could intensify a global trade war.
However, Trump's threats to impose secondary tariffs on Russian oil and to attack Iran fueled supply worries, limiting losses.
Brent futures settled down 28 cents, or 0.37%, at $74.49a barrel. The session high was above $75 a barrel. U.S. West Texas Intermediate crude futures fell 28 cents, or 0.39%, to $71.20.
On Monday, the contracts settled at five-week highs.
The White House provided no details about the size and scope of tariffs that it confirmed Trump will impose on Wednesday.
"The market is getting a little jittery with less than 24 hours to go," said Bob Yawger, director of energy futures at Mizuho. "We may lose some Mexican, Venezuela and Canadian supplies, but there is definitely a chance that demand destruction could outpace those barrels," he added.
