Crude oil remains above $100 in US after modest gains on Wednesday
Concerns about tight worldwide crude oil supplies continue to bother investors and as a result, oil prices...
Concerns about tight worldwide crude oil supplies continue to bother investors and as a result, oil prices saw only modest gains in Wednesday’s trading while inventories of US distillate and gasoline dropped.
West Texas Intermediate crude for June delivery went up 32 cents to close at $102.02 a barrelwhile global benchmark Brent crude for June delivery managed a 33-cent increase and finished the day at $105.32 a barrel.
May natural gas rose 42 cents to $7.27 per 1,000 cubic feet.
Dow, S&P 500 end higher as Nasdaq finishes in the red
Stocks finished mostly higher, but off session highs, as a rebound attempt lost steam...
Stocks finished mostly higher, but off session highs, as a rebound attempt lost steam in afternoon trade. The Nasdaq Composite COMP, -0.01%, which attempted to bounce back after dropping 4% on Tuesday to post its lowest close since December 2020, gave up gains to end around 2 points lower, a loss of less than 0.1%, near 12,489, according to preliminary figures. The Dow Jones Industrial Average DJIA, 0.19% finished around 62 points higher, up 0.2%, near 33,302, while the S&P 500 SPX, 0.21% gained around 9 points, or 0.2%, to close near 4,184.
BofA Global Research analysts wrote in a recent report that...
BofA Global Research analysts wrote in a recent report that refiners are poised for "an extended period of elevated margins we characterize as a new regional 'Golden Age' for the US refining sector, with Valero Energy and PBF Energy seen taking the lead. Valero Energy on Tuesday reported a first-quarter adjusted net income of $944 million, compared with a $666 million net loss a year earlier, and a refining margin of $3.21 billion, more than double from the first quarter of 2021.
The energy sector is off to a mixed start, supported by strength in the major market futures despite...
The energy sector is off to a mixed start, supported by strength in the major market futures despite slight weakness in the crude complex. U.S stock index futures are up following a brutal selloff in the previous session, on strong earnings updates from Microsoft and Visa. As earnings season continues, Hess Corp reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine. Also, Asia's top oil refiner, also known as Sinopec, reported a 25% surge in net income for the first quarter of 2022, a level last seen in the third quarter of 2020, thanks to elevated crude oil prices.
MarketWatch: Stocks attempt bounce after Nasdaq-led tumble
Stocks opened higher Wednesday, attempting a bounce a day after a 4% slide for the Nasdaq Composite saw...
Stocks opened higher Wednesday, attempting a bounce a day after a 4% slide for the Nasdaq Composite saw the tech-heavy index post its lowest finish since December 2020. The Dow DJIA, 0.93% rose 130 points, or 0.4%, while the S&P 500 SPX, 1.28% gained 0.5% and the Nasdaq COMP, 1.51% advanced 0.8%. Investors were parsing results for tech heavyweights after results from Google parent Alphabet Inc. GOOGL, -2.42% and Microsoft Corp. MSFT, 5.41%. Alphabet shares sank more than 3% in the early going, while Microsoft rose nearly 5%.
