Dow closes at fresh record high, Nasdaq ends lower as tech stocks struggle
U.S. stocks closed mixed, with the S&P 500 eking...
U.S. stocks closed mixed, with the S&P 500 eking out a fresh record high alongside the Dow Jones Industrial Average as both indexes extended their winning streaks.
The Dow Jones Industrial Average gained 238.56 points, or 0.5%, to finish at 46,758.28.
The S&P 500 edged up 0.44 point, or less than 0.1%, to end nearly flat at 6,715.79.
The Nasdaq Composite fell 63.54 points, or 0.3%, to close at 22,780.51.
All three indexes booked weekly gains amid a U.S. government shutdown, with the Dow and S&P 500 each climbing a sixth straight day. The S&P 500 clinched its 31st record close of the year, after wobbling Friday afternoon as its information technology sector turned lower.
For the week, the S&P 500 and Dow each advanced 1.1%. The tech-heavy Nasdaq had a weekly gain of 1.3%, after snapping a five-day winning streak on Friday, according to Dow Jones Market Data.
Energy Dept. scoops up 5% interest in lithium assets
The Energy Department has taken a 5% interest in both Lithium Americas...
The Energy Department has taken a 5% interest in both Lithium Americas and its Thacker Pass project in Nevada, which is being developed through a joint venture with General Motors. The process involved restructuring a $2.26 billion loan agreement to support the US supply chain for lithium and reduce dependence on foreign sources. Energy Secretary Chris Wright noted that the deal will help ensure the mine is built and remains financially sound.
Shutdown stalls energy projects, but O&G permits roll on
The US government shutdown has immediately halted or delayed construction...
The US government shutdown has immediately halted or delayed construction projects that rely on federal funding, particularly in the energy sector, though fixed-price contracts with appropriated funds may largely continue. Some Interior Department staff will remain on duty to process oil, gas and coal permits and leases and to advance preparations for a December Gulf of America lease sale and the next oil and gas leasing plan. The Energy Information Administration, meanwhile, said it will continue publishing its weekly petroleum inventory report as scheduled.
Elon Musk’s automaker sold ~497k cars last quarter, up by 7.4% from...
Elon Musk’s automaker sold ~497k cars last quarter, up by 7.4% from last year and well ahead of Wall Street’s projections as consumers raced to buy electric vehicles before the federal government’s $7,500 EV tax credit expired on Sept. 30. That’s the good news. The bad news is it may be the company’s last good quarter for the foreseeable future, as EV sales are widely expected to plunge now that the tax credit has expired. Prior to the sales rush in Q3, Tesla had been struggling due to increased competition and Musk’s controversial foray into US politics. The CEO recently became the world’s first half-trillionaire.
Delta planes collided in low-speed collision on LaGuardia taxiway. Two...
Delta planes collided in low-speed collision on LaGuardia taxiway. Two regional Delta jets collided while taxiing at NYC’s LaGuardia Airport late Wednesday night. No passengers were hurt, but one flight attendant was taken to a hospital with non-life-threatening injuries. The wing of a plane departing for Roanoke, Virginia, reportedly clipped the nose and cockpit of a jet arriving from Charlotte, North Carolina, forcing passengers to deplane and take buses back to the terminal. While it’s unclear what caused the collision, it comes as a shortage of air-traffic controllers in the US has contributed to a number of aviation incidents this year.
The White House reportedly sent a letter to nine US universities asking them to sign a “compact” agreeing to President Trump’s higher education agenda in exchange for access to federal funds.
India and China are resuming direct flights for the first time in five years as diplomatic ties between the two powers improve.
Berkshire Hathaway bought the petrochemical company OxyChem for $9.7 billion, marking Berkshire’s largest acquisition since 2022.
Universal Music and Warner Music are reportedly close to making licensing deals with AI companies, in a move that could reshape the music industry.
Mountain Dew could soon be colored with carrots and purple sweet potatoes instead of artificial dyes, a PepsiCo executive said.
