Energy stocks continue their recent strong performance, with the benchmark energy index higher by more...
Energy stocks continue their recent strong performance, with the benchmark energy index higher by more than 1%. Further gains in energy prices, with oil up around 1%, and S&P 500 futures up 0.22% as better-than-expected earnings outside of mega-cap technology and third-quarter U.S. GDP has risen by a better-than-expected 2.6% are underpinning risk sentiment. Energy earnings continue to ramp up.
Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China. Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose
Markets: Plunging tech stocks dragged the market ...
Markets: Plunging tech stocks dragged the market down with them yesterday, snapping a three-day winning streak. Up next for the economy: The third-quarter GDP report drops today, which is sure to set off another frantic round of investors’ favorite game, “try to read Jerome Powell’s mind.”
ExxonMobil, Chevron, New Fortress Energy and other energy companies have recently unveiled plans to pursue...
ExxonMobil, Chevron, New Fortress Energy and other energy companies have recently unveiled plans to pursue hydrogen projects in the US that may qualify for tax credits under the Inflation Reduction Act. ExxonMobil's hydrogen site in Baytown, Texas, is expected to be among the largest in the world.
Exxon strikes oil again in Guyana, raises output target
Exxon Mobil Corp has made two new discoveries at the Sailfin-1...
Exxon Mobil Corp has made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, the oil major said on Wednesday, adding more barrels to one of the most closely watched new oil discoveries.
Exxon did not disclose how much crude oil or gas it estimates the new discoveries to contain, but it also hiked a previous output forecast for the third quarter from older discoveries in the region.
Guyana amounts for one-third of the crude discovered in the world since Exxon first hit oil in the country in 2015, according to Rystad consultancy firm.
U.S. stocks finish mostly lower with Nasdaq tumbling 2%
Stocks ended mostly lower, though the Dow Jones Industrial Average appeared to cling to a tiny gain Wednesday,...
Stocks ended mostly lower, though the Dow Jones Industrial Average appeared to cling to a tiny gain Wednesday, with the market unable to fully shake off weak earnings from tech behemoths Microsoft Corp. MSFT, -7.72% and Google parent Alphabet Inc. GOOG, -9.63%GOOGL, -9.14%. The Dow DJIA, +0.01% ended with a gain of just over 3 points, or less than 0.1%, according to preliminary figures. If the gain holds, the blue-chip gauge will have extended its winning streak to four sessions. The S&P 500 SPX, -0.74% ended with a loss of 0.7%, while the Nasdaq COMP, -2.04% shed 2%. Microsoft ended the day with a loss of 7.7%, while Alphabet shares dropped more than 9%. The tech sector fell 2.2%, while communications services, which includes Alphabet, dropped 4.7% to lead the way lower.
