Trump pledges to slap steep tariffs on Canada, Mexico, and China. In...
Trump pledges to slap steep tariffs on Canada, Mexico, and China. In posts on Truth Social yesterday evening, the president-elect vowed to place a 25% tariff on all products imported to the US from close allies Canada and Mexico, as well as an additional 10% tariff on all products imported by China. Trump suggested the tariffs would serve as punishment for migrants and illegal drugs, such as fentanyl, arriving in the US from some of those countries. Economists say blanket tariffs on the US’ biggest trading partners (Mexico is No. 1) would raise prices for American consumers and disrupt supply chains. Energy is Canada’s largest export to the US, and Mexico exports loads of autos, electronics, veggies, and plastics to its northern neighbor.
Drake sued Universal Music Group and Spotify, accusing the companies of conspiring to artificially inflate Kendrick Lamar’s diss track, “Not Like Us.”
Sixteen people are missing after a tourist boat sank in the Red Sea off the coast of Egypt, while 28 have been rescued.
The EU said Bluesky is violating rules around information disclosure, though it won’t regulate the platform like it does X because it’s not big enough yet.
Călin Georgescu, an obscure far-right Romanian politician, shockingly won the first round of the country’s presidential election after his campaign clips went viral on TikTok.
AMC Theatres banned moviegoers from singing along to screenings of Wicked, and if you have a problem with that, we can take this outside.
Dow logs record close as Wall Street welcomes Trump's Treasury secretary pick
It's not unusual for one person to help spark a rally, but when that...
It's not unusual for one person to help spark a rally, but when that happens, it's usually Federal Reserve Chairman Jerome Powell. Today, the market continued to climb and set new record highs, possibly thanks to someone less familiar, Treasury Secretary nominee Scott Bessent.
President-elect Trump's nomination of Bessent, who has a reputation as a deficit hawk, was likely a factor in today's sharp Treasury yield slide to nearly one-month lows. This, accompanied by hopes Bessent can help boost U.S. economic growth through lower taxes, appeared to help small-cap stocks and companies more exposed to the domestic market including homebuilders, retailers, auto makers, and freight handlers.
On the other hand, many companies with heavy exposure to foreign markets like semiconductors, health care, and certain retailers also climbed, possibly taking their cue from Bessent as well. The Treasury nominee supports Trump's tariff policy, but media reports said he may see tariff threats as more of a negotiating tactic. The U.S. dollar weakened today on hopes for less pressure on overseas economies if U.S. tariff policy is more nuanced, and that also appeared to lift multinational U.S. stocks. Here's where the major benchmarks ended:
The SPX rose 18.03 points (0.30%) to 5,987.37; the $DJIadded 440.06 points(0.99%) to 44,736.57; and the Nasdaq Composite®($COMP) gained 51.18 points(0.27%) to 19,054.84.
The 10-year Treasury note yield fell 15 basis points to 4.27%.
The CBOE Volatility Index® (VIX)dropped to 14.74, the lowest since November 14.
(Reuters) - Oil prices fell more than $2 a barrel on...
(Reuters) - Oil prices fell more than $2 a barrel on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials.
Brent crude futures settled at $73.01 a barrel, down $2.16, or 2.87%. U.S. West Texas Intermediate crude futures finished at $68.94 a barrel, down $2.30 or 3.23%.
Israel said on Monday it is moving toward a ceasefire in the war with Hezbollah but there are still issues to address, while Lebanese officials voiced guarded optimism but said Israeli Prime Minister Benjamin Netanyahu was not to be trusted.
US gas producers eye slice of the data center demand pie
As AI and data centers fuel energy demand, Permian Basin shale producers...
As AI and data centers fuel energy demand, Permian Basin shale producers see an opportunity to diversify revenue streams. Companies such as Devon Energy and Diamondback Energy are pursuing partnerships with data center operators and exploring carbon capture and storage solutions to attract sustainability-minded tech companies.
US gas production set for 2025 recovery after 2024 cuts
US natural gas drillers such as Coterra Energy, EQT and EOG Resources...
US natural gas drillers such as Coterra Energy, EQT and EOG Resources are preparing to reverse production cuts in 2025 amid expectations for rising demand from new US liquefied natural gas export facilities and higher prices. "The combination of growing LNG exports, increased electrical generation demand and the prospect of winter weather suggests a tighter supply-demand picture for natural gas in 2025 and beyond," said Coterra CEO Thomas Jorden.
