U.S. stocks finish mostly lower as investors weigh Fed minutes
The S&P 500 ended lower for a fourth straight session on Wednesday after the release of the ...
The S&P 500 ended lower for a fourth straight session on Wednesday after the release of the Federal Reserve’s minutes of its February policy meeting bolstered expectations for higher interest rates to tame inflation. The Dow Jones Industrial Average DJIA fell about 83 points, or 0.3%, ending near 32,046, while the S&P 500 index SPX closed 0.2% lower, cementing a fourth session in a row of declines. The Nasdaq Composite Index COMP turned positive in the final leg of the trade, ending up 0.1%. The Fed minutes showed unanimous backing for continued interest-rate hikes in coming meetings. Importantly, the latest jobs report and inflation data since the Fed meeting also point to the potential need for higher rates for longer. Investors hoping for a pivot away from restrictive interest rates this year helped fuel a rally in stocks to kick off 2023 that has been fading in recent sessions, with the Dow now in the red for the year, the S&P 500 up 4%, and the Nasdaq higher by 10%, according to FactSet data.
US refinery capacity expansion may not turn out as planned
Proposed US refinery capacity additions totaling about 807,000...
Proposed US refinery capacity additions totaling about 807,000 barrels per day have little chance of being finished on time, if at all, with energy consultancy IRR seeing low completion probability for more than half of the planned projects. "IRR Energy has all of these at low probability right now and they will not be increasing probability until they [the refineries] reach final investment decision," said IRR's Hillary Stevenson at the Argus Americas Crude Summit.
Don Lemon is returning as co-host of CNNThis Morning today after taking several days off following his controversial remarks about women in their “prime.”
Tesla’s Model 3 sells for $4,930 less than the average new vehicle sold in the US, per Bloomberg. That’s the cheapest it’s ever been relative to other new cars.
145,000 cans of Enfamil ProSobee baby formula are being recalled over potential bacterial contamination.
The EPA took its most aggressive action yet against the company whose train derailed in East Palestine,...
The EPA took its most aggressive action yet against the company whose train derailed in East Palestine, Ohio, in early February. The agency ordered Norfolk Southern to identify and clean up contaminated soil and water, and reimburse the EPA for the cleanup it does on its own. The head of the EPA, Michael Regan, vowed that Norfolk Southern will “pay for cleaning up the mess they created and for the trauma they’ve inflicted on this community.”
U.S. stocks struggle toward modest gains at opening bell after 2023’s worst day
U.S. stocks opened marginally higher on Wednesday after suffering their worst drop of 2023 a day earlier...
U.S. stocks opened marginally higher on Wednesday after suffering their worst drop of 2023 a day earlier as investors awaited minutes from the latest meeting of the Federal Reserve. The S&P 500 SPX, +0.23% gained 3.5 points, or 0.1%, to 4,000, the Dow Jones Industrial Average DJIA, +0.16% increased by 39 points, or 0.1%, to 33,172, the Nasdaq Composite COMP, +0.48% added 36 points, or 0.3%, to 11,530. The Dow dropped roughly 700 points a day earlier as U.S. stocks tumbled in the face of rising Treasury yields, a stronger U.S. dollar and downbeat forward guidance from Home Depot Inc. HD, +0.96% and Walmart Inc. WMT, -0.54%.
