Dow falls over 400 points as stock market fails to build on Monday bounce ahead of megacap tech earnings
U.S. stocks fell sharply Tuesday, failing to build on the previous session’s intraday bounce,...
U.S. stocks fell sharply Tuesday, failing to build on the previous session’s intraday bounce, as investors sifted through a raft of corporate results and awaited earnings due after the bell from megacap tech giants, including Microsoft and Google owner Alphabet.
The Dow Jones Industrial Average DJIA was down 414 points, or 1.2%, at 33,636.
The S&P 500 SPX was down 69 points, or 1.6%, at 4,227.
The Nasdaq Composite COMP lost 362 points, or 2.8%, to trade at 12,643.
Monday saw the biggest intraday reversal since February for the Dow, which rose 238 points, or 0.7%, erasing a loss of nearly 500 points. The S&P 500 rose 0.6%, and the Nasdaq Composite gained 1.3%.
Dallas-based HXPN Pledges to Invest up to $100 Million in Mid-Con Energy
HXPN Inc. recently signed a letter of intent with Mid-Con Energy Operating LLC...
HXPN Inc. recently signed a letter of intent with Mid-Con Energy Operating LLC to invest up to $100 million in a variety of Mid-Con’s projects.
Mid-Con is a Tulsa, Okla.-based oil and gas exploration and exploitation company with projects located in oil-rich basins throughout the Midwest containing almost 10 million barrels of potentially recoverable reserves. The company’s expertise is secondary recovery in existing conventional oil fields that have lost reservoir pressure but still have significant remaining recoverable reserves.
According to a release by HXPN, Mid-Con has identified a number of projects and prospective fields that are excellent candidates for the secondary recovery method and it expects to move quickly to acquire the necessary lease acreage, and to begin to fully develop the projects.
U.S. home prices rose in February at a breakneck pace: Case-Shiller
The ...
The S&P CoreLogic Case-Shiller 20-city price index posted a 20.2% year-over-year gain in February, up markedly from 18.9% the previous month. On a monthly basis, the index increased 2.4% between January and February. Meanwhile, the Case-Shiller national home price index increased 19.8% between February 2021 and February, up from the previous month. This represented the third-largest pace of home-price appreciation in the Case-Shiller report's history. ~From MarketWatch
Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade
(Bloomberg) Asian oil refiners are shunning a major export-grade from the Russian Far East due to sanctions...
(Bloomberg) Asian oil refiners are shunning a major export-grade from the Russian Far East due to sanctions on a tanker company that ships the cargoes.
Buyers are now trying to back out of purchases of Sokol, which was sold out for May-loading two weeks ago, said people with knowledge of the matter. At least one shipment of the variety for loading in end-May has been canceled, with several other refiners trying to wind back purchases for June, said the people who asked not to be named due to the sensitivity of the information.
Sokol is being avoided due to the involvement of Sovcomflot PJSC, a Russian state-controlled firm that transports the crude produced at the Sakhalin-I project from the De-Kastri export terminal to customers in North Asia. The company’s tankers are struggling to get insurance from international firms after it was added to a list of U.K.-sanctioned entities, the people said.
Round raises $350M for startup bitcoin miner Crusoe
Crusoe Energy, a startup that powers its bitcoin mining with natural gas from oil wells that is usually...
Crusoe Energy, a startup that powers its bitcoin mining with natural gas from oil wells that is usually wasted by flaring it off, raised $350 million in a Series C funding round that will allow it to expand across the US and internationally. The startup was also awarded credit facilities that can go as high as $155 million.
