The planned shutdowns of two major refineries next year, coupled with...
The planned shutdowns of two major refineries next year, coupled with improving fuel demand, will usher in a period of stability for US refiner margins following two years of declines, the Energy Information Administration predicts. US refining capacity is projected to drop to 17.94 million barrels per day by the end of 2025, the lowest since June 2022.
Disney had lots of good news for investors. It’s...
Disney had lots of good news for investors. It’s been a rough few years for the Mouse House, but it delivered a series of wins in its fiscal Q4 earnings report yesterday. Disney+ added a much higher-than-expected 4.4 million subscribers, propelling the company’s streaming division to a $321 million profit. Disney’s movie business also had a solid quarter, thanks to Inside Out 2 and Deadpool & Wolverine. But most optimistic of all: Disney took the rare step of issuing a three-year financial outlook, predicting a significant jump in profits as its streaming products mature—even as its traditional TV business deteriorates.
Advance Auto Parts is closing more than 700 of its 5,000 locations as part of a plan to “improve business performance.”
Burberry revealed a sweeping brand overhaul to refocus on heritage designs and statement pieces over niche products, CNBC reported.
Alan Filion, the teen responsible for nearly 400 “swatting” attacks on schools, politicians, and places of worship, pleaded guilty and faces up to 20 years in prison.
Ford was slapped with a $165 million civil fine—the second largest ever issued by the National Highway Traffic Safety Administration—for failing to recall defective vehicles in a timely manner.
Donald Trump picked Robert F. Kennedy Jr.—a peddler of debunked anti-vaccine conspiracy theories—to lead the Department of Health and Human Services.
Dow ends over 200 points lower as U.S. stocks retreat from record territory
U.S. stocks ended lower on Thursday, putting a little...
U.S. stocks ended lower on Thursday, putting a little more daylight between them and record territory claimed earlier in the week.
Investors have been focused on what Donald Trump's second presidential administration will look like, with several top cabinet picks emerging in recent days. But there's still much uncertainty on what to expect in 2025.
The Dow Jones Industrial Average fell about 207 points, or 0.5%, ending near 43,750, according to preliminary data from FactSet.
The S&P 500 index shed about 36 points, or 0.6%, closing around 5,949.
The Nasdaq Composite index retreated about 123 points, or 0.6%, finishing near 19,107.
Despite the Mountain Valley Pipeline's recent completion, Appalachia's...
Despite the Mountain Valley Pipeline's recent completion, Appalachia's energy infrastructure remains constrained, with no new natural gas pipelines yet on the horizon. Industry leaders at the recent DUG Appalachia Conference agree that while legal and regulatory hurdles persist, commercial viability of new pipeline projects in Appalachia is primarily determined by demand and gas prices.
U.S. first-time unemployment claims fall to lowest level since May
Initial jobless claims fell...
Initial jobless claims fell by 4,000 to 217,000 in the week ending Nov. 9, the lowest level since May. This was better than the expected 1,000 decline to 220,000. Before seasonal adjustments, the number of new claims jumped by 16,735 to 229,478. The number of people already collecting unemployment benefits fell by 11,000 to 1.87 million.
Despite the mixed data, the overall picture suggests companies are not rushing to hire at the same pace as earlier in the year and are not aggressively laying off workers. Richmond Fed President Tom Barkin noted that employers are wary of being understaffed again after the pandemic. Economists believe the Federal Reserve's current policy approach of gradual tightening is appropriate given the strength in the labor market.
