MarketWatch: U.S. stocks end lower Tuesday, surrendering earlier gains
Stocks recorded their biggest blown lead in more than a month on Tuesday, as investors...
Stocks recorded their biggest blown lead in more than a month on Tuesday, as investors debated if the latest rise in the consumer price index could mean peak inflation. The Dow Jones Industrial Average DJIA, -0.26% fell around 88 points, or 0.3%, to close near 34,220, according to preliminary figures, after rising 362 points, or 1.1%, at its session high. That marks its biggest blown lead since March 11, according to Dow Jones Market Data. The S&P 500 SPX, -0.34% fell 0.3% after previously rising as much as 1.3%, while the Nasdaq CompositeCOMP, -0.30% gave up a 2% gain to end 0.3% lower. That's the biggest erased gains for those two indexes since March 8. Bond yields retreated after U.S. consumer prices rose 1.2% in March, for an 8.5% yearly gain, the fastest pace since January 1982.
Delek Logistics Partners has agreed to pay $624.7 million for 3BearDelaware Holding-NM's oil and natural gas gathering, processing and transportation assets, as well as water disposal and recycling operations in the Delaware Basin in New Mexico. 3Bear's portfolio includes a 485-mile pipeline network, 120,000 barrels of crude storage capacity, 88 million cubic feet per day of cryogenic natural gas processing capacity and 200,000 barrels per day of water disposal capacity.
🔥RRH: New Permian mineral listings in Howard County, TX
Core Permian Minerals Howard County, TX 48.3...
Core Permian Minerals
Howard County, TX
48.3 NRA across 3 tracts Operators: Chevron, Laredo, Birch
40+ wells permitted or being drilled
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ExxonMobil( XOM -3.44% ) is the largest of the oil giants with a $358 billion valuation and an impressive portfolio of assets that it intends to use for its benefit and the benefit of its shareholders. It just announced its $10 billion Yellowtail project off the coast of Guyana that it's partnered with Hess( HES -1.00% ) on, which will add 250,000 barrels per day of oil production through six drill centers and as many as 26 production and 25 injection wells. Exxon owns 45% of the project, Hess 30%.
The combination of a robust pipeline of low-cost growth prospects and rising energy prices means the moment is still ripe for oil stock investments. With Exxon making its own commitment to buy back $10 billion worth of stock, while maintaining and even raising its dividend, as it has for the past 39 years, ExxonMobil continues to be my top energy stock to buy now.
🔥From Twitter: The U.S. plans to temporarily allow gasoline with high ethanol content to be sold this summer
The U.S. plans to temporarily allow gasoline...
The U.S. plans to temporarily allow gasoline with high ethanol content to be sold this summer in a bid to tame high fuel prices, administration officials say https://t.co/5b3JU3MK5g