MarketWatch: U.S. stocks finish mostly flat ahead of Wednesday's key inflation report
U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector...
U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week.
The S&P 500 was up 0.1%, to end near 5,209.
The Dow Jones Industrial Average lost less than 0.1%, leaving it nearly flat, at around 38,883.
The Nasdaq Composite edged up 0.3%, to finish around 16,306.
The technology-heavy index was up for three consecutive days and booked its largest three-day percentage gain since March 22, according to Dow Jones Market Data.
The widely watched report on March's consumer-price index, due Wednesday at 8:30 a.m. Eastern time, is expected to provide a monthly progress update on the Federal Reserve's efforts to curb inflation. Investors hope a cooling inflation reading could convince policymakers that it's safe to start lowering interest rates as soon as June.
Chevron participates in funding for carbon capture startup
Chevron New Energies participated in a funding round that raised $45...
Chevron New Energies participated in a funding round that raised $45 million for Ion Clean Energy, a startup focused on carbon dioxide capture. The new capital will fund growth and the commercialization of the company's ICE-31 liquid amine carbon capture technology.
Geopolitical tensions disrupting global fuel markets are keeping refining...
Geopolitical tensions disrupting global fuel markets are keeping refining crack spreads above historical levels, benefitting US refiners such as Marathon Petroleum, Valero and Phillips 66. With access to multiple sources of crude oil and cheap natural gas prices, these refiners are well positioned to sustain profitability and capitalize on fuel market tightness.
Jamie Dimon is bearish on a soft landing but bullish on AI
In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon...
In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon said yesterday that the odds interest rates return to the Fed’s target of 2% without triggering a recession are “a lot lower” than the 70%–80% chance that several markets seem to have priced in. Dimon said JPMorgan is preparing for interest rates to possibly spike to 8% in the coming years, citing geopolitical risks, the green transition, and higher energy costs (but he’s notorious for having cautious outlooks). Artificial intelligence also topped Dimon’s list of pressing issues, and he’s “completely convinced” that AI’s impact will be “extraordinary”—maybe even as revolutionary as the printing press or the steam engine.
The UConn men’s basketball team handled Purdue in last night’s NCAA...
The UConn men’s basketball team handled Purdue in last night’s NCAA title game 75–60 to become the first repeat champions since the Florida Gators in 2006–2007. The Huskies made it look easy, beating their six opponents in the tournament by an average margin of 23.3 points; they’ve now won 12 straight tournament games by double digits going back to last year. On the women’s side, the TV ratings are in for the South Carolina–Iowa final: A massive 18.7 million people watched the game, the largest audience for a basketball game, college or pro, since 2019.
