Stock retreat creates worst week for S&P 500, Nasdaq since March
U.S. stocks capped off a rocky week by finishing lower on Friday...
U.S. stocks capped off a rocky week by finishing lower on Friday after erasing their gains from earlier in the session as the Federal Reserve’s warning that it plans to keep interest rates higher for longer continued to reverberate across global markets.
The S&P 500SPX fell 10.17 points, or 0.2%, to finish Friday at 4,319.93. It marked the fourth straight session in the red, the longest streak of daily losses since early August. Also, the benchmark index fell 2.9% on the week, its biggest such drop since the week ended March 10, when the collapse of Silicon Valley Bank sparked a painful but short-lived selloff. The Nasdaq CompositeCOMP fell 12.18 points, or 0.1%, to 13,211.81, capping off a weekly loss of 3.6%, also the index’s worst since March 10. The Dow Jones Industrial Average DJIA fell 106.38 points, or 0.3%, to 33,964.44, falling 1.9% on the week, its worst in about a month. The S&P 500 and Nasdaq have now fallen during six of the last eight weeks.
In a sign of growing oil market tightness, oil inventories at...
In a sign of growing oil market tightness, oil inventories at the Cushing, Okla., oil hub have dipped to 22.9 million barrels after six consecutive weeks of declines, which is close to the facility's minimum operating range of 20-22 million barrels. A recent Keystone pipeline disruption has aggravated the situation, causing prices for both fuel and US sweet physical crude to rise.
Crude oil prices climb after Russia bans gas and diesel exports
Oil prices climbed on Friday, trading near the highest level in 10 months seen earlier this week, after...
Oil prices climbed on Friday, trading near the highest level in 10 months seen earlier this week, after news Thursday that Russia has banned the export of diesel and gasoline which has pushed up prices in Europe.
West Texas Intermediate crude futures for November delivery rose $1.43to $91.06 a barrel on the New York Mercantile Exchange.
November Brent crudefutures increased by $1.20, to $94.50 a barrel on ICE Futures Europe.
October gasoline rose by 0.7% to $2.59 a gallon, while October heating oilgained 0.6% to $3.386 a gallon.
November natural gas rose by 1.5% to $2.88 per million British thermal units.
Michael Bloomberg Wants to be the Nail in the Coffin on the Coal Industry
Former New York City Mayor Michael Bloomberg announced on Wednesday he...
Former New York City Mayor Michael Bloomberg announced on Wednesday he will release $500 million into the next phase of his energy transition campaign, aiming to shut down “every last” coal plant in the United States and slash gas-fired capacity in half by 2030, according to a published report by Reuters.
The $500 million infusion into his decade-long Beyond Carbon initiative aims to “finish the job on coal” by working with state and local organizations to force the closure of the roughly 150 coal plants that have not yet retired, slash current gas generation in half and block the construction of new gas-fired plants.
Historybook: President Abraham Lincoln issues preliminary ...
Historybook: President Abraham Lincoln issues preliminary Emancipation Proclamation (1862); Peace Corps formally authorized by Congress (1961); Iraq invades Iran, beginning the Iran-Iraq War (1980); “Friends” debuts on NBC (1994); Baseball great Yogi Berra dies (2015).
Michael Bloomberg outlined the succession plan for Bloomberg LP, saying that when he dies, the company will go to his foundation and then be sold within the first five years.
Google was sued by the widow of a man who died after driving off a collapsed bridge while following the company’s GPS directions, which had not been updated.
The Biden administration is granting temporary legal status to 472,000 Venezuelans already in the country following Democrats’ calls to provide more aid to asylum-seekers.
ChatGPT can now generate “shockingly detailed” images using OpenAI’s DALL-E art tool.
WWE’s SmackDown will move from Fox to USA Network in 2024 as part of a new five-year, $1.4 billion rights deal with NBCUniversal.
IPO update: Shares of chip designer Arm fell below their initial price just a week after debuting, as investors cooled from the early excitement.
