Blue chips lag as U.S. stocks edge upward ahead of Fed rate decision
U.S. stocks finished mostly higher on Tuesday as investors...
U.S. stocks finished mostly higher on Tuesday as investors prepared for the Federal Reserve’s first interest-rate cut since 2020.
The S&P 500 was up 1.49 points, ending flat at around 5,634.58. It briefly touched its previous all-time closing high of 5,667.20 in the morning session. The large-cap benchmark index has risen for seven straight days, scoring its largest seven-day point and percentage gain since August 21.
The Dow Jones Industrial Average lost 15.90 points, or less than 0.1%, to remain nearly flat at 41,606.18. This snapped the blue-chip index's four-day winning streak.
The Nasdaq Composite rose 35.93 points, or 0.2%, ending at 17,628.06.
The Federal Reserve is set lower interest rates on Wednesday at the conclusion of its two-day policy meeting. While a rate cut is widely expected, Wall Street is still split between predicting a 25-basis-point cut and one of 50-basis-point cuts.
Democrats demand stronger protections for the Arctic
A group of 55 Democratic lawmakers, led by Sen. Ed Markey of Massachusetts...
A group of 55 Democratic lawmakers, led by Sen. Ed Markey of Massachusetts and Rep. Jared Huffman of California, is pressing the Biden administration to bolster protections in the Arctic amid mounting climate threats. "This opportunity to take a renewed look at needed protections is especially timely, as the effects of climate change in the Arctic -- from declining sea ice, permafrost thaw, and record temperatures -- are felt more acutely than ever before and new extractive development encroaches more and more into important habitat and subsistence areas," they wrote in a letter to the Interior Department.
Court throws out price-fixing lawsuit against oil giants
The US Court of Appeals for the Ninth Circuit has dismissed a lawsuit...
The US Court of Appeals for the Ninth Circuit has dismissed a lawsuit accusing major oil companies and groups, including ExxonMobil, Chevron and the American Petroleum Institute, of conspiring with the Trump administration, Russia and Saudi Arabia to cut oil production and drive up prices. The court ruled that the case involved political matters beyond its jurisdiction and found no compelling evidence of price-fixing by the industry giants.
A magnitude 5.1 earthquake shook Midland just before 8 p.m. Monday evening, ...
A magnitude 5.1 earthquake shook Midland just before 8 p.m. Monday evening, according to the U.S. Geological Survey. USGS originally reported the earthquake at 4.8.
It was located about 20 miles west of Ackerly and about 20 miles south of Lamesa.
Earlier in the day, a 1.5 magnitude earthquake struck near Stanton, just a few miles southeast of Monday night’s quake.
With workers on strike, Boeing seeks to hoard its cash. While...
With workers on strike, Boeing seeks to hoard its cash. While dealing with a strike by 30,000 unionized factory workers that has shut down production of its 737 planes and could cost the company $500 million a week, Boeing has instituted a hiring freeze and other money-saving measures. The beleaguered aviation company said the strike could jeopardize its recovery following a safety scandal, and that it was also considering furloughing employees. Both Boeing and the union representing the workers have said they want to get back to the bargaining table quickly, though workers rejected their last contract deal.
Sean Combs, the music mogul also known as Diddy, was arrested after being indicted, the New York Times reports. The charges in the indictment weren’t immediately available, but Combs has been accused of sexual assault in several civil lawsuits.
Oracle Chairman Larry Ellison became the world’s second-richest person yesterday, pulling past Amazon founder Jeff Bezos as the software company’s stock surged. Elon Musk still sits at No. 1, per Forbes.
Floods caused by heavy rainfall have led to deaths and evacuations in Central and Eastern Europe. Meanwhile, Shanghai was hit by its biggest typhoon since 1949, and a storm dumped historic rain on North Carolina.
Stouffer’s is trying to take on Kraft’s blue box by getting outside the freezer and offering its own shelf-stable mac and cheese.
