Goldman Sachs' top economist warns the recent stock market rally fueled by
Goldman Sachs warns the recent stock market rally fueled by 'Fed pivot' hopes will die off despite...
Goldman Sachs warns the recent stock market rally fueled by 'Fed pivot' hopes will die off despite 'disinflation.' Its chief economist lays out why equities investors could be in danger despite the apparent boom in the jobs market
CPI report shows U.S.’s annual inflation rate slowing to 8.5% in July
The numbers: The consumer price index was unchanged in July, the Labor Department said...
The numbers: The consumer price index was unchanged in July, the Labor Department said Wednesday, a much slower pace compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July.
The rate of inflation in the 12 months ended in July retreated to 8.5% from a 41-year high of 9.1% in June.
The closely-watched “core” measure of inflation that omits volatile food and energy also rose 0.3 in July, down from a 0.5% gain in the prior month. The 12-month rate remained steady at 5.9%.
Key details: The big rise in inflation was the cost of food, which rose 1.1% in July. Over the past year, food prices are up 10.9%, the highest since May 1979.
Energy prices fell 4.6% in July, with gas prices down 7.7%.
MarketWatch: Elon Musk offloads nearly $7 billion in Tesla stock
Elon Musk sold almost $7 billion in Tesla Inc. stock in recent days, according to filings Tuesday with...
Elon Musk sold almost $7 billion in Tesla Inc. stock in recent days, according to filings Tuesday with the Securities and Exchange Commission.
According to the filings, the Tesla chief executive sold around 7.9 million shares between Friday and Tuesday, at prices ranging from $838.57 to $911.75 — roughly $6.88 billion in total.
Last week, Tesla shareholders approved plans for a 3-for-1 stock split, which will take place Aug. 24. Trading will begin on a stock split-adjusted basis on Aug. 25, the company said in a regulatory filing.
The American Petroleum Institute (API) reported a build this week for crude oil of 2.156 million...
The American Petroleum Institute (API) reported a build this week for crude oil of 2.156 million barrels, while analysts predicted a draw of 400,000 barrels. The build comes as the Department of Energy released 5.3 million barrels from the Strategic Petroleum Reserves in the week ending August 5, to 464.6 million barrels.
U.S. crude inventories have shed some 61 million barrels since the start of 2021, with a 2 million barrel gain since the start of 2020, according to API data.
Cushing inventories rose by 910,000 barrels this week. Last week, the API saw a build of 653,000 barrels. Official EIA Cushing inventories for the week ending July 29 were 24.466 million, up from 23.540 in the prior week.
A shift to gas-powered fracking equipment has allowed oil producer Comstock Resources to save between...
A shift to gas-powered fracking equipment has allowed oil producer Comstock Resources to save between $12,000 to $20,000 per fracking stage and slash well completion costs by about 15%. Moreover, the switch eliminated roughly 2,000 metric tons of greenhouse gas emissions and cut diesel use by about 1.4 million gallons, according to Comstock CFO Roland Burns.
