Dow closes up over 200 points as stocks rally ahead of inflation data
U.S. stocks finished higher on Monday as investors look ahead...
U.S. stocks finished higher on Monday as investors look ahead to inflation data and corporate earnings later in the week.The Dow Jones Industrial Averagesnapped a four-day losing streak, gaining 211.37 points, or 0.6%, to 33,946.25, according to preliminary closing data from FactSet. The Nasdaq Composite lagged as mega-cap tech largely missed out on Monday’s gains. The tech-heavy index rose 24.77 points, or 0.2%, to 13,685.48. The S&P 500rose by 10.77 points, or 0.2%, to 4,409.72, with industrial stocks emerging as the index’s best-performing sector. Small-cap stocks also saw strong gains on Monday, with the Russell 2000 rising 27.56 points, or 1.5%, to 1,892.15.
More than a dozen people have been injured in the opening days of northern Spain's iconic "running of the bulls"—though no participants have been gored or killed as of this morning. The event is held each morning during the weeklong Festival of San Fermín in the city of Pamplona.
The origins of the festival date back to the Middle Ages, though its modern form was made famous by author Ernest Hemingway's description in "The Sun Also Rises."Other parts of the celebration include fireworks, bullfighting, and parades. While between 50 and 100 injuries are reported each year from the bull runs, deaths are far less common. Fifteen people have been killed during the event since 1910—14 from the horns of bulls and one from being trapped in a crowd pileup.
The festival attracted 1.7 million visitors last year, following two years of cancellations due to the pandemic. See the video from yesterday's chase here.
Former Ring Executives Start IPO for E&P Rise Oil & Gas
Kelly Hoffman and Daniel Wilson’s names probably ring a bell in the Permian...
Kelly Hoffman and Daniel Wilson’s names probably ring a bell in the Permian Basin. Once executives at Ring Energy, the two Texas oilmen are laying the groundwork for an IPO of their Permian Basin E&P startup, Rise Oil & Gas.If successful, it would be the fifth energy IPO this year.
Government filings say that in 2022 the company acquired 2,480 contiguous undeveloped leasehold acres in the Texas portion of the Permian Basin. On March 31, 2023, Rise acquired an additional 1,859 gross undeveloped leasehold acres in the same area. The company anticipates drilling one or two wells on its acreage by the end of the year.
As of March 31, Rise had $1.7 million in cash and cash equivalents and $3.2 million in total capitalization. The company switched from a Texas corporation to a Nevada corporation in March but lists Austin as its headquarters.
New challenge filed against Mountain Valley Pipeline
Environmental groups are making a last stand against the Mountain Valley Pipeline with a motion asking...
Environmental groups are making a last stand against the Mountain Valley Pipeline with a motion asking US Court of Appeals for the 4th Circuit to bar its construction through the Jefferson National Forest. The groups argue that allowing the pipeline to pass through the forest would violate several standards in the forest management plan, "inflicting irreparable harm on petitioner, its members, and the environment absent a stay."
Expanded liquefaction capacity and rising liquefied natural gas demand in Europe helped drive global...
Expanded liquefaction capacity and rising liquefied natural gas demand in Europe helped drive global LNG trade up by 5% year over year to a record average of 51.7 Bcf/d in 2022, according to CEDIGAZ data cited by the Energy Information Administration. US LNG exports hit 10.2 Bcf/d last year, up 16% from 2021 -- the largest growth among exporting nations, while Europe experienced a 65% surge in LNG imports compared to the previous year.
