The energy sector is off to a lower start, pressured by further weakness...
The energy sector is off to a lower start, pressured by further weakness in the underlying commodities and in the major equity futures fell as the search for a debt ceiling resolution continues and will advance to the House of Representatives for debate today.
WTI and Brent crude oil are trading sharply lower on weak economic data from China and a stronger dollar. China’s manufacturing data contracted more than expected and stayed below the 50-point mark that separates expansion from contraction as demand weakened. Additionally, the U.S dollar rose to its highest in over two months which saw support from cooling European inflation and progress on the U.S. debt ceiling negotiations. The market will be keeping an eye on Friday’s U.S. may non-farm payrolls data which may increase the possibility of further rate hikes if it comes in stronger than expected.
Natural gas futures are extending their losses on record output and forecasts for milder weather than previously expected.
US stock futures fall early Wednesday as investors await a debate...
US stockfutures fall early Wednesday as investors await a debate in the House of Representatives on a deal to raise the debt ceiling. Check out the latest market moves.
Earnings on deck: Salesforce, Nordstrom, and more, all reporting.
New Mexico officials appeared before Congress last week...
New Mexico officials appeared before Congress last week to express support for a federal proposal to allow conservation leases on public lands. Addressing concerns about the possible adverse effects on fossil fuel extraction and ranching, New Mexico Public Lands Commissioner Stephanie Garcia Richard clarified that the proposed rules aim to expand land use options, foster pollution reduction and protect natural resources.
New malware called "CosmicEnergy" can take out electric...
New malware called "CosmicEnergy" can take out electric grids and other critical infrastructure, similar to the Industroyer program that disabled Ukraine's power supply in 2016. Mandiant researchers say that Russia's national telecom operator Rostelecom may have developed CosmicEnergy, which works by controlling remote terminal units, for training purposes.
US LNG cargo cancellations loom as global prices fall
Traders are sounding the alarm over the growing...
Traders are sounding the alarm over the growing likelihood of US LNG cargo cancellations in the coming months as global LNG prices continue to plummet. While current price spreads remain favorable for US LNG exports, cancellations may occur if LNG spot prices dip into the low single digits, which would lead to price declines and an oversupply in the US market.
