Storms keep slamming California. President Biden declared an ...
Storms keep slamming California. President Biden declared an emergency in California yesterday after a slew of winter storms drenched the state, causing at least 12 deaths, widespread power outages, and flooding. The declaration will allow federal agencies to coordinate relief efforts as atmospheric rivers and cyclones keep pummeling the northern part of the state. As of yesterday, about 34 million Californians, or ~10% of the US population, were under a flood watch, according to CNN, and Montecito was ordered to evacuate.
Markets: Stocks ended the day mostly flat yesterday, despite spending the morning looking like they were going to keep Friday’s big rally energy going (investors’ enthusiasm waned after two Fed officials made discouraging noises about interest rates). Still, recently hard-hit tech stocks like Tesla and several semiconductor companies started getting scooped up once again, pushing the Nasdaq into positive territory.
Dow ends lower as stocks struggle to extend rally; Nasdaq gains
U.S. stocks finished mostly lower Monday, with the Dow Jones...
U.S. stocks finished mostly lower Monday, with the Dow Jones Industrial Average giving up gains earlier in the session while a rise in technology shares failed to keep the S&P 500 in positive territory. The Dow DJIA, -0.34% ended 0.3% lower, while the S&P 500 SPX, -0.08% edged down 0.1% and the technology-heavy Nasdaq Composite COMP, +0.63% gained 0.6%, according to preliminary data from FactSet. The S&P 500's information technology sector booked the biggest gains in the index, at around 1.1%, while the healthcare sector suffered the largest losses with a 1.7% slide.
U.S. natural gas bounces 9% on profit-taking, higher demand outlook
Natural gas futures are surging Monday as traders take profits after prices ...
Natural gas futures are surging Monday as traders take profits after prices plunged to a one-year low last week and as forecasts indicate a return to colder conditions in the U.S. later this month.
Front-month U.S. natural gas futures (NG1:COM) for February delivery recently +9.2% to $4.052/MMBtu, after falling last Friday to as low as $3.52/MMBtu, its lowest level since July 2021.
Energy Department rejects oil inventory restock bids
The Department of Energy has rejected bids from oil suppliers to restock the nation's Strategic Oil...
The Department of Energy has rejected bids from oil suppliers to restock the nation's Strategic Oil Reserve with as much as 3 million barrels of crude during February. "Following review of the initial submission, DOE will not be making any award selections for the February delivery window," the agency told Reuters.
