Dow ends down over 150 points after inflation data; Nasdaq rises
U.S. stocks traded mixed on Tuesday afternoon, with the Nasdaq Composite and S&P 500 ticking into...
U.S. stocks traded mixed on Tuesday afternoon, with the Nasdaq Composite and S&P 500 ticking into positive territory as January’s consumer price index data revealed a seventh straight month of slowing inflation, but not as quickly as economists had expected.
The S&P 500 SPX, -0.03% was up 5 points, or 0.1%, at 4,142
The Dow Jones Industrial Average DJIA, -0.46% dropped 70 points, or 0.2%, to 34,176
The Nasdaq Composite COMP, 0.57% gained 62 points, or 0.5%, to 11,955
The Nasdaq Composite is up 13% so far in 2023 but remains roughly 25% off its record high touched in November 2021 and it’s 16% year over year.
Marathon Oil Co. drilled two wells on a single pad in ...
Marathon Oil Co. drilled two wells on a single pad in Blaine County, Okla., that generated 2,616 barrels of oil per day and 25,440 Mcf of natural gas per day, per completion reports. Devon Energy produced 1,652 barrels of oil per day and over 15,000 Mcf of natural gas per day from a two-well pad in the same county.
Three were killed and five were critically injured in shootings at Michigan State University....
Three were killed and five were critically injured in shootings at Michigan State University. The suspect fatally shot himself, the police said. More here.
The national airline of Moldova said the country has closed its airspace, a day after President Maia...
The national airline of Moldova said the country has closed its airspace, a day after President Maia Sandu accused Russia of plotting to overthrow the government.
"At this moment, the airspace of the Republic of Moldova is closed," Air Moldova said on its Facebook account. "We are waiting for the resumption of flights."
Eurocontrol, which manages European air space, said in an operational statement that Moldovan airspace is temporarily closed due to "security issues". The airspace closure is currently set to last until 9 a.m. Eastern Time.
Odds of additional Fed rate hikes in May, June rise after CPI report
Odds that the Federal Reserve will deliver additional 25 basis point interest-rate hikes in May and June...
Odds that the Federal Reserve will deliver additional 25 basis point interest-rate hikes in May and June have risen following the release of the January consumer-price index on Tuesday, according to the CME’s FedWatch tool. Fed funds futures, a derivative product that traders use to place bets on fluctuations in the Fed’s policy rate, were pricing in 74.3% odds of a hike in May, a marginal increase from 72% a day earlier, according to the CME tool. Investors have been pricing in higher odds of additional Fed hikes following surprisingly strong readings on the state of the U.S. labor market and services sector earlier this month. The data have helped convince investors that the Fed would hike rates above 5% and keep them there until at least 2024.
