The energy sector is off to a higher start, backed by strength in both the crude complex...
The energy sector is off to a higher start, backed by strength in both the crude complex and major equity futures which gained this morning as treasury yields continued to fall. With a slew of earnings across the energy sector released this morning and after-market close yesterday, investors will have many data points to digest. Focal points remained capex discipline and shareholder returns, with a number of dividend increases and increased share repurchase totals announced.
Following three consecutive days of declines, WTI and Brent crude oil futures turned higher this morning on positive economic sentiment after the U.S. Federal Reserve again decided to keep benchmark interest rates unchanged. Lingering demand concerns in Europe and China continued to weigh on sentiment and overshadowed supply concerns in the Middle East. While markets remain fixated on the Israeli conflict, crude has now given up its war premium as fears the conflict would spread across the region and disrupt supply have failed to occur, with oil options now pricing in a smaller risk of escalation.
Bank of England matches Fed in holding line on interest rates
By a 6-to-3 vote, the Bank of England voted again to keep interest rates unchanged at 5.25%. Analysts...
By a 6-to-3 vote, the Bank of England voted again to keep interest rates unchanged at 5.25%. Analysts had forecast the vote to be 8-to-1 in favor of no change. Inflation has been coming down faster than the U.K. central bank has projected the last two months, while the economy may have contracted in the September-ending quarter. The Bank of England said, “The current monetary policy stance is restrictive.”
US Greenlights Dominion Energy’s Wind Project Offshore Virginia
The U.S. Bureau of Ocean Energy Management has approved Dominion Energy’s 2.6-gigawatt (GW) Coastal...
The U.S. Bureau of Ocean Energy Management has approved Dominion Energy’s 2.6-gigawatt (GW) Coastal Virginia Offshore Wind project, the largest of five commercial offshore wind developments approved by the U.S. to date, the agency said on Oct. 31.
Historybook: Marie Antoinette born (1755); Nobel Prize-winning playwright George Bernard...
Historybook: Marie Antoinette born (1755); Nobel Prize-winning playwright George Bernard Shaw dies (1950); First president of South Vietnam Ngô Đình Diệm assassinated (1963); Indian actor and "King of Bollywood" Shah Rukh Khan born (1965); Martin Luther King Jr. Day is created in the US (1983).
Jury hears prosecutors' closing arguments in the criminal fraud trial of FTX founder Sam Bankman-Fried, following three days of testimony from Bankman-Fried (More)
Foreign nationals, including US citizens, and injured Palestinians were allowed to cross the border from Gaza into Egypt yesterday for the first time since the Israel–Hamas war began. After a protester interrupted a speech he was giving, President Biden said he believed there should be a “pause” in the fighting “to get the prisoners out.” Here’s the latest on the conflict.
Disney will soon own all of Hulu, having agreed to buy out Comcast’s one-third stake in the streamer for at least $8.61 billion.
The infant mortality rate in the US rose last year for the first time in 20 years, according to the CDC.
Rangers capture first World Series in franchise history
The Texas Rangers are World Series champions for the first time in the franchise’s...
The Texas Rangers are World Series champions for the first time in the franchise’s 63-season history, defeating the Arizona Diamondbacks 5-0-Wednesday in Phoenix to secure the title in Game 5.
The Rangers’ win in Phoenix – giving them the best-of-seven series 4 games to 1– didn’t come easily.
The game was scoreless through six innings, and Diamondbacks starting pitcher Zac Gallen was dominating, not allowing a hit through those stanzas. READ MORE
