Dow Jones posts 200 point gain, S&P 500 snaps year’s longest losing streak
U.S. stocks bounced on Tuesday as a wave of big technology companies prepared to report earnings. The...
U.S. stocks bounced on Tuesday as a wave of big technology companies prepared to report earnings. The Dow Jones Industrial Average DJIA rose about 204 points, or 0.6%, to end near 33,140, posting its biggest daily percentage gain in about a week,. The S&P 500 IndexSPX gained 0.7% to snap a five-session skid, its longest so far in 2023. The Nasdaq Composite IndexCOMP closed up 0.9%.
Investors were focused on third-quarter earnings, including results from Microsoft MSFT Alphabet GOOG Visa V and Texas Instruments TXN after the closing bell Tuesday. Longer-duration Treasury yields also continued to retreat, with the 10-year rate TMUBMUSD10Y pegged at 4.82%, after briefly touching 5% a day earlier.
The energy sector is off to a mixed to higher start,...
The energy sector is off to a mixed to higher start, backed by low conviction strength in the crude complex while major equity futures steadied as traders digest a fresh slate of earnings reports and continue to closely monitor the latest moves in Treasury yields.
Following two consecutive days of sizeable declines, WTI and Brent crude oil futures are mostly flat, down less than 50 cents, as investors weigh diplomatic efforts in the Middle East that have eased some supply disruptions concerns against weak economic data out of the eurozone and the IEA’s latest outlook report. The IEA released its World Energy Outlook report where it cut its 2050 oil demand projection by 2.4M bpd and called the energy world fragile and undergoing major changes over the coming years. Attention will now start to shift to the U.S. inventory data cycle, beginning post-close with the release of API's report followed by the EIA data tomorrow.
Natural gas futures continued to gain momentum for the second day and are up ~1.5% in early trading, backed by cooler weather forecasts in key consuming regions that should boost heating demand through next week.
Earnings season is starting to heat up for the sector with Halliburton...
Earnings season is starting to heat up for the sector with Halliburtonreporting a 32% rise in third-quarter profits this morning as higher international drilling and equipment demand helped overcome weakness in North America. International revenue rose 3% sequentially to $3.2 billion in the quarter on the back of Latin America's strength, while revenue from North America fell 3% to $2.6 billion. Halliburton management commented that the " decline was primarily driven by decreased pressure pumping services in U.S. land and lower well intervention services in the Gulf of Mexico,"
Methane detection soars to new heights with AI, satellites
Momentum is building for advanced methane detection technology as artificial intelligence and more affordable...
Momentum is building for advanced methane detection technology as artificial intelligence and more affordable satellite monitoring empower the oil and natural gas industry to turn data into actionable insights that can improve its environmental performance. However, some experts caution that investing substantial resources in satellites and cloud computing to address a long-standing issue may result in an overemphasis on data collection without effective mitigation strategies.
World Series bound: The Texas Rangers crushed their in-state rivals, the Houston Astros, 11-4, to reach their first World Series in over a decade.
One more game: The Arizona Diamondbacks staved off elimination in the N.L.C.S., beating the Philadelphia Phillies, 5-1. Game 7 is tonight in Philadelphia.
NBA: The superstar forward Giannis Antetokounmpo and the Milwaukee Bucks agreed to a three-year, $186 million max extension. The league’s season tips off tonight.
