U.S. stocks end sharply higher Friday to cap winning week
U.S. stocks rose sharply Friday to book big weekly gains,...
U.S. stocks rose sharply Friday to book big weekly gains,shrugging off earlier weakness as Treasury yields eased back from their highs of 2023. The S&P 500 index SPX rose about 1.6% on Friday, its best daily percentage gain since Jan. 20, according to FactSet data. The Dow Jones Industrial Average DJIA gained 1.2%, or about 386 points, ending near 33,386, based on preliminary figures. The Nasdaq Composite Index COMP rose 2%. The pullback in the benchmark 10-year Treasury rate on Friday helped stocks gain momentum while breaking a string of weekly losses, with the Dow ending up 1.8% for the week, the S&P 500 up 1.9% and the Nasdaq advancing 2.6% for the week.
The probability of a disastrous US debt default has more than tripled since the start of the...
The probability of a disastrous US debt default has more than tripled since the start of the year, MSCI wrote in a note. Trading activity in US government credit card swaps has surged as investors buy insurance on a potentially catastrophic event. Get the full details.
US stock futures edge higher early Friday, as investors see glimmers of hope for more-moderate...
US stock futures edge higher early Friday, as investors see glimmers of hope for more-moderate rate hikes in Fed official Bostic's comments. Meanwhile, the 10-year Treasury is clinging on at just above 4%. Here are the latest market moves.
Earnings on deck: Lufthansa, Pearson, and more, all reporting.
Aramco Acquires Valvoline Global Operations for $2.65 Billion
Saudi Arabia’s Aramco has acquired Valvoline Inc.’s global...
Saudi Arabia’s Aramco has acquired Valvoline Inc.’s global products business Valvoline Global Operations for $2.65 billion, Aramco announced in a press release on March 2.
Headquartered in Lexington, Kentucky, Valvoline Global Operations is in the lubricants market and provides automotive and industrial solutions. Aramco’s acquisition of the 157-year-old brand advances its international lubricants growth strategy and base oils production.
As part of their agreement, Aramco will own Valvoline’s brand for its products business and Valvoline Inc. will own the Valvoline brand for retail services
Equinor Buys Suncor Energy UK in $850 Million Deal
Equinor said on March 3 it will acquire the British oil and gas business of Canada's Suncor Energy for...
Equinor said on March 3 it will acquire the British oil and gas business of Canada's Suncor Energy for $850 million, giving the Norwegian company stakes in several key North Sea petroleum assets.
Equinor said the deal includes a 29.9% stake in the Buzzard oilfield, an additional 40% stake in the Rosebank development and will also see the Norwegian firm taking on Suncor's U.K.-based employees who work with these assets. The transaction will add approximately 15,000 boe/d to Equinor's production in 2023, the Norwegian company said.
Equinor is already the operator of the planned offshore Rosebank oil and gas project, some 130 km (80 miles) northwest of the Shetland Islands and one of the largest developments in the aging North Sea basin.
