S&P 500 scores new record close as stocks climb ahead of Friday’s jobs report
The S&P 500 scored a fresh record finish...
The S&P 500 scored a fresh record finish on Thursday, while both the Dow Jones Industrial Average and Nasdaq ended just shy of their own peak closes.
Investors were bullish ahead of Friday's monthly jobs report for August, hopeful that it would bolster the case for the Federal Reserve to cut interest rates in September.
The Dow gained 350.06 points, or 0.8%, ending at 45,621.29 — only 0.03% away from its prior record close, according to Dow Jones Market Data.
The S&P 500 rose 53.82 points, or 0.8%, ending at 6,502.08, a new record close. Along with the Dow, the index booked its best day since Aug. 22.
The Nasdaq Composite rose 209.97 points, or 1%, closing at 21,707.69, just 0.03% away from its record close of Aug. 13.
BW LPG India to Sell Gas Carrier BW Lord for $61MM
BW LPG India has agreed to sell BW Lord, a very large gas carrier (VLGC)...
BW LPG India has agreed to sell BW Lord, a very large gas carrier (VLGC) built in 2008 for continued operating and transporting, according to a Sept. 2 press release.
The sale is expected to generate a net book gain of approximately US$25 million and net cash proceeds of approximately US$61 million, BW said.
BW Lord is scheduled for delivery to the undisclosed buyer before the end of 2025, enabling BW LPG India to continue earning income from the asset until the handover.
This transaction follows the company’s purchases of the 2015-built BW Chinook and BW Pampero. BW’s fleet in India is currently comprised of eight VLGCs, which collectively handle approximately 20% of India’s LPG imports.
Shelly Lambertz Named Continental Resources’ Executive Chair
Shelly Lambertz, part of Continental Resources’ namesake founding...
Shelly Lambertz, part of Continental Resources’ namesake founding as Shelly Dean Oil, has been named the estimated $30 billion shale E&P’s executive chairman.
Continental currently operates across the Lower 48, primarily in the Permian, Anadarko, Powder River and Williston basins, and recently signed a deal to explore in Turkey.
Lambertz, who has been on Continental’s board since 2018, was executive vice president, chief culture, and administrative officer.
She joined the E&P in 2018 and held the post of chief culture officer and senior vice president, human resources. Her roles also included responsibility for HSE, government relations, investor and public relations, and legal.
She received her bachelor’s in business administration from Oklahoma State University.
Job openings declined in July and employers remain cautious, according to new data
The Bureau of Labor Statistics released last month’s JOLTs data, which...
The Bureau of Labor Statistics released last month’s JOLTs data, which tracks hiring, layoffs, and quits. The employers surveyed reported 7.2 million job openings, down from 7.4 million in June, but other key data points remained unchanged from the prior month. However, the decline in “help wanted” signs points to a softening labor market, which could influence the Federal Reserve’s rate-cut decision due later this month. “This job market is frozen and it’s difficult for anyone to get a job right now,” the chief economist of the Navy Federal Credit Union said of the findings.
Amazon nixes Prime perk that let members share free shipping. The...
Amazon nixes Prime perk that let members share free shipping. The company said its Prime Invitee program, which lets Prime members share free shipping benefits with people outside their household, is ending on Oct. 1. It’s encouraging the customers who benefited from it to get their own Prime subscriptions by offering them one for $14.99 for their first year (after that, it’s $139 annually). Amazon also encouraged current Prime members to check out Amazon Family, which lets them extend free shipping privileges, Prime Video, and other offerings to one adult, as well as teens and children, in their household.
A funicular in Lisbon, Portugal, derailed, killing at least 15 and injuring at least 18 more.
The Harvard funding freeze, which the Trump administration implemented to withhold $2.2 billion from the university, violated the First Amendment, according to a federal judge.
The Philadelphia Eagles open the NFL season tonight as they host the Cowboys. Philly’s public transit system, SEPTA, is so snarled that the team advised fans to practice “consolidated” tailgating to make more parking available, and FanDuel brokered a public-private partnership to restore train service.
ConocoPhillips said it would lay off up to 25% of its workforce by the end of the year, as the oil company seeks major cost reductions.
Kim Ju Ae, the daughter of Kim Jong Un, traveled with him to Beijing, sparking speculation that she may become his successor.
