N.D. oil output bounces back in Jan. after Dec. dip
The North Dakota Department of Mineral Resources has reported that the state's oil production surged...
The North Dakota Department of Mineral Resources has reported that the state's oil production surged by 11% to almost 1.1 million barrels per day in January, rebounding from a 13% drop in December that pushed output below the 1-million-bpd mark for the first time since April. Natural gas production rose by 7% to around 2.8 billion cubic feet per day in January, with producers exceeding the state's 91% gas capture target.
Dow falls 200 points on losses in shares of JPMorgan Chase, Goldman Sachs
Shares of JPMorgan Chase and Goldman Sachs are retreating Friday morning, sending the Dow Jones Industrial...
Shares of JPMorgan Chase and Goldman Sachs are retreating Friday morning, sending the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.72% was most recently trading 199 points (0.6%) lower, as shares of JPMorgan Chase JPM, -2.76% and Goldman Sachs GS, -2.24% have contributed to the index's intraday decline. JPMorgan Chase's shares are off $3.52, or 2.7%, while those of Goldman Sachs have dropped $8.17, or 2.6%, combining for an approximately 77-point drag on the Dow. Other components contributing significantly to the decline include American Express AXP, -2.17%, Travelers TRV, -2.46%, and Caterpillar CAT, -1.71%. A $1 move in any one of the 30 components of the index equates to a 6.59-point swing.
China’s top leader, Xi Jinping, will travel to Russia to meet with President Vladimir V. Putin next week in a visit that could have broad implications for Moscow’s war in Ukraine and the troubled relationship between Beijing and Washington.
Mr. Xi is expected to make a state visit to Russia from Monday to Wednesday, China’s Foreign Ministry and the Kremlin said in statements. It will be his first visit to Russia since the country launched its full-scale invasion of Ukraine more than a year ago.
Stocks of 11 banks that pumped $30 billion into First Republic Bank all lower premarket
The stocks of the 11 banks that ...
The stocks of the 11 banks that contributed $30 billion in uninsured deposits to embattled lender First Republic Bank on Thursday were all lower in premarket trade Friday, amid concerns the unprecedented action had failed to prop up the regional bank’s stock. First Republic Bank stock FRC, -18.65% was down 4% premarket, after it said it would suspend its dividend to conserve cash. JP Morgan analysts said the move by banks to help a smaller rival was a positive; “however, news late last night of post market drop in First Republic’s stock price is likely to rattle investors as markets remain fragile,” they wrote early Friday. JP Morgan Chase JPM, -2.78%, one of four big banks to contribute $5 billion as part of the $30 billion deal, was down 0.7%, Citigroup C, -2.75% was down 1%, Bank of America BAC, -2.93% was down1.2% , and Wells Fargo WFC, -3.50% fell 0.8%. Goldman Sachs GS, -2.94% and Morgan Stanley MS, -2.18%, each providing $2.5 billion to the package, were down 0.6% and 0.7% respectively. Bank of New York Mellon BK, -3.45% and State Street STT, -3.37% were down 0.2%, Truist TFC, -4.56% was down 1.5% and and US Bancorp USB, -5.14% was down 1.4% Those four are providing $1 billion each. PNC Financial Services PNC, -3.77% was down 0.9%.
U.S. stocks finish sharply higher as First Republic gets rescue from banks
U.S. stocks finished sharply higher on Friday, erasing losses from earlier in the session, as a group...
U.S. stocks finished sharply higher on Friday, erasing losses from earlier in the session, as a group of big banks deposited $30 billion with troubled lender First Republic Bank. The S&P 500SPX gained 68.36, or 1.8%, to close at 3,960.28, according to preliminary closing data from FactSet. The Dow Jones Industrial AverageDJIA rose 371.98 points, or 1.2%, to 32,246.55. The Nasdaq Composite COMP gained 283.22 points, or 2.5%, to 11,717.28.
