U.S. stocks finished mostly down Friday after investors weighed the latest data from the Federal...
U.S. stocks finished mostly down Friday after investors weighed the latest data from the Federal Reserve’s preferred inflation gauge at the tail end of a turbulent month for stocks.
The Dow Jones Industrial Average DJIA fell 158.84 points, or 0.5%, to close at 33,507.50.
The S&P 500 SPX shed 11.65 points, or 0.3%, to finish at 4,288.05.
The Nasdaq Composite COMP edged up 18.05 points, or 0.1%, to end at 13,219.32.
For the week, the Dow fell 1.3%, the S&P 500 dropped 0.7% and the Nasdaq Composite eked out a 0.1% gain. All three benchmarks booked both monthly and quarterly losses.
Energy stocks are set to close out the final session of the third quarter in the green, tracking higher broader index futures and oil prices. Rates are backing off, with the 10-year back below 4.6%, trading around 4.53%. Sector news flow is light as quiet periods are set to commence ahead of earnings season next month.
Oil prices rose on Friday and were headed for a gain of about 3% for the week, driven by tight U.S. supply and expectations of strong fuel demand in China. A backdrop of tight supplies in the U.S. provided further price support, with storage at Cushing, Oklahoma, the delivery point for U.S. crude futures, already at its lowest since July 2022. "Any additional decline would threaten to bring them down to a critical level, which could make further withdrawals difficult," said Commerzbank analyst Carsten Fritsch.
Natural gas futures are lower by 3%, consolidating gains after touching 7-week highs yesterday.
U.S. stocks opened higher on Friday, on track to rise for a third straight day after an inflation gauge...
U.S. stocks opened higher on Friday, on track to rise for a third straight day after an inflation gauge favored by the Federal Reserve showed price pressures easing to their slowest pace in two years, a welcome sign for the market at the close of what has been a difficult September. The DJIA rose 100 points, the S&P 500 SPX gained 25 points and the Nasdaq Composite COMP rose by 144 points,
The United Auto Workers union reportedly plans to expand strikes at GM, Stellantis, and Ford again if talks don’t progress today.
FC Barcelona has been charged with sending more than $7 million in bribery payments to companies linked to the former vice president of Spanish football’s refereeing committee.
Epic Games, the maker of Fortnite, is laying off 870 employees, or 16% of its workforce.
McMurdo Station in Antarctica will soon ban its bars from serving alcohol amid growing concerns over sexual misconduct at the remote research facility.
If there were ever a morning for a continental breakfast, this would be it. While you were sleeping,...
If there were ever a morning for a continental breakfast, this would be it. While you were sleeping, American golfers began their Ryder Cup title defense against Europe at Marco Simone Golf and Country Club on the outskirts of Rome. Team USA dominated the 2021 tournament in Wisconsin—however, the US has not won a Ryder Cup in Europe since 1993.
The beloved golf tournament began in 1927 and is played every two years, alternating between the US and Europe.
California Gasoline Tops $6 as Newsom Directs Smog Rule Waiver
(Bloomberg) -- Summer is over but gasoline prices are heating up in California, prompting Governor Gavin...
(Bloomberg) -- Summer is over but gasoline prices are heating up in California, prompting Governor Gavin Newsom to lift an anti-smog rule for relief at the pump.
Regular gasoline cost an average of $6.03 in California Wednesday, the highest since October and almost $2.20 a gallon above the national average, up from $1.20 in early August. That already was the highest level ever for this time of year, data from the American Automobile Association show.
The governor directed the state’s Air Resources Board to allow winter-grade gasoline earlier than usual, a move that could bring spot prices down by nearly $1.50 a gallon, according to Denton Cinquegrana, chief oil analyst at Oil Price Information Service LLC.
