Dow, S&P end day higher as jobs data boost hopes for Fed pause
U.S. stocks closed mostly higher on Friday, capping off a week...
U.S. stocks closed mostly higher on Friday, capping off a week of gains before the Labor Day holiday.The Dow Jones Industrial AverageDJIA rose about 116 points, or 0.3%, ending near 34,838, while the S&P 500 IndexSPX gained 0.2% and the Nasdaq Composite IndexCOMP ended virtually flat. Investors cheered signs of slowing in the labor market, with an August jobs report showing the U.S. added more jobs for the month, but the unemployment rate ticked up to 3.8% from 3.5% a month before. So far, the U.S. has added almost 26 million jobs in roughly three years, a figure that’s about equivalent to the size of Australia’s economy, according to BlackRock. For the week, the Dow gained 1.4%, the S&P 500 added 2.5% and the Nasdaq climbed 3.3%, according to FactSet.
Global wind turbine orders hit 69.5 GW high in 1H23
Global wind turbine order intake reached new highs in 1H23, with...
Global wind turbine order intake reached new highs in 1H23, with 69.5 GW of activity, a 12% increase year-over-year, according to a new analysis from Wood Mackenzie.
A big driver of this activity was orders from outside of China, which saw more than 25 GW of order demand for a 47% increase year-over-year through 1H23. North America saw orders reach 7.7 GW, more than quadrupling 1H22’s total of 1.9 GW, with two offshore orders accounting for 49% of the total. China overwhelmingly remains the largest market, with 44 GW of activity in 1H23, but demand was flat year-over-year.In total, orders accounted for US$25.3 billion in 2Q23, and US$40.5 billion in 1H23.
Natural Gas Storage Build Exceeds Analyst Estimates
On August 31, EIA released its Weekly Natural Gas Storage Report....
On August 31, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by 32 Bcf from the previous week,compared to analyst consensus of +25 Bcf.
At current levels, stocks are 484 Bcf higher than last year and 249 Bcf above the five-year average of 2,866 Bcf.
Pickering Energy Partners Launches Oil & Gas Investment Banking Unit
By: Reuters...
By: Reuters - Pickering Energy Partners (PEP) is launching a financial advisory unit for oil and gas dealmaking, the investment firm said on Friday, doubling down on traditional fossil fuels as some banks are becoming wary about the industry and ramping up their bets on clean energy.
The launch of the investment banking unit marks a return to oil and gas advisory services for Dan Pickering, the veteran energy financier who helped form Tudor, Pickering, Holt & Co, an energy boutique bank that was acquired by Perella Weinberg Partners (PWP.O) in 2016.
Marathon Petroleum's 596,000 barrel-per-day (bpd) Garyville, Louisiana refinery resumed normal operation on Thursday after production was cut back nearly a week ago, a company spokesperson said.
