The energy sector is off to a lower start, pressured by weakness...
The energy sector is off to a lower start, pressured by weakness in the crude complex and the major market futures. U.S equities are expected to open lower amid fears of further interest rate hikes by the Federal Reserve. As earnings season ramps up, Baker Hughes announced first-quarter earnings that beat Wall St expectations as strong oil prices continue to support demand for their services and equipment. UBS analyst Josh Silverstein initiated coverage across 19 oil & gas stocks and assumed coverage over CVX, SLB and XOM.
Oil futures are extending their weekly losses as traders remain focused on the possibility of another modest rate hike. Concerns over a slowing economy and fuel demand outweighed positive Chinese economic data and a draw in crude inventories according to the API. Markets are now pricing in an 86% chance of the Fed raising rates by 25 basis points at its May policy meeting. As anticipated, China's GDP grew by more than expected at 4.5%, for the first quarter and surpassed analyst expectations. Their refinery throughput also rose to record levels in March. Investors will be keeping an eye out for EIA data which will be released later as last night’s API data showed crude stocks fell by 2.68 million barrels last week.
Natural gas futures are lower amid forecasts for cooler temperatures and lower heating demand than previously expected.
The major US cities with the lowest property taxes
LendingTree found out how much homeowners pay for property taxes in 50 of the nation's largest cities....
LendingTree found out how much homeowners pay for property taxes in 50 of the nation's largest cities. Insider broke down the 10 US metropolitan areas with the lowest property taxes, including Charlotte and New Orleans. Find them here.
Benchmark U.S. crude oil for May delivery rose 3 cents to $80.86 a barrel Tuesday. Brent crude for June delivery rose 1 cent to $84.77 a barrel.
Wholesale gasoline for May delivery fell 2 cents $2.75 a gallon. May heating oil fell 1 cent to $2.60 a gallon. May natural gasrose 9 cents to $2.37 per 1,000 cubic feet.
S&P 500 ekes out gain, stocks drift as earnings pick up
U.S. stocks drifted, closing mostly lower on Tuesday, as investors waited for earnings season to gather...
U.S. stocks drifted, closing mostly lower on Tuesday, as investors waited for earnings season to gather more steam. The Dow Jones Industrial Average DJIA, -0.03% ended down 10 points, or less than 0.1%, near 33,976, while the S&P 500 index SPX, +0.09% gained 0.1%, according to preliminary figures from FactSet. The Nasdaq Composite Index COMP, -0.04% fell less than 0.1%. Bank of America BAC, +0.63% and Goldman Sachs GS, -1.70% were among the major banks to report quarterly results, while streaming giant Netflix Inc. NFLX, +0.29% was on deck after the bell. It is ending its red-envelope DVD rental service after 25 years.
Mexico's LNG sector could alleviate Permian gas glut
Mexico's burgeoning liquefied natural gas export industry could develop into a significant demand market...
Mexico's burgeoning liquefied natural gas export industry could develop into a significant demand market for surplus Permian Basin natural gas supplies, potentially easing some of the pressure on Waha hub gas prices, which linger below $1 per million British thermal units. Analysts expect existing cross-border pipelines and the upcoming expansion of cross-border capacity to offer new opportunities for moving gas from the Permian to the global LNG market via Mexico.
