MarketWatch: U.S. initial jobless claims edged upward in early March
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early...
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early March, but businesses are trying to avoid layoffs as they confront an extremely tight labor market and try to fill a record number of open positions.
Economists polled by The Wall Street Journal had forecast initial jobless claims to total a seasonally adjusted 216,000 in the seven days ended March 5.
Oil prices plunge from 14-year highs; Exxon, Chevron slip after eight straight gains
Energy stocks (...
Energy stocks (XLE-3.1%) comprise Wednesday's five biggest losers on the S&P 500, as crude futures plunged by the most since November after the United Arab Emirates and Iraq signaled OPEC may have greater willingness to raise production, as well as hopes for a de-escalation of the Russia-Ukraine conflict.
April WTI crude oil(CL1:COM) closed -12.1% to settle at $108.70/bbl, after ending Tuesday at its highest since August 2008, and May Brent crude (CO1:COM)-13.2%to $111.14/bbl, after closing at its best level since July 2008.
At the close:PSX-5.9%, XOM-5.7%, SLB-5.6%, HAL-5.2%, VLO-3.7%.
Dow ends 650 points higher as investors track Russia-Ukraine war developments
U.S. stocks ended sharply higher Wednesday, bouncing as investors continued to track the Russia-Ukraine...
U.S. stocks ended sharply higher Wednesday, bouncing as investors continued to track the Russia-Ukraine war and its potential economic fallout. The Dow Jones Industrial AverageDJIA, +2.15%rose around 653 points, or 2%, to end near 33,285, while the S&P 500SPX, 2.57%gained 2.6% to finish near 4,278. The Nasdaq Composite COMP, 3.59% jumped 3.6% close near 13,256. The bounce came as news reports said foreign ministers from Russia and Ukraine plan to meet Thursday in Turkey. Oil futures retreated, pulling back from nearly 14-year highs amid volatile activity across financial markets.
