Dow trims early gains, but U.S. stocks end higher to break two-day losing run
U.S. stocks closed higher on Wednesday, yet ended well off the session's...
U.S. stocks closed higher on Wednesday, yet ended well off the session's best levels, after Federal Reserve Chair Jerome Powell said he wants more evidence that inflation is easing before pivoting to rate cuts.
The Dow Jones Industrial Average gained about 0.2%, ending near 38,661, while the S&P 500 index rose 0.5% and the Nasdaq Composite Index advanced 0.6%, according to preliminary FactSet data.
Stocks earlier in the week booked back-to-back losses as momentum around the group of "Magnificent Seven" technology stocks continued to fracture.
Among that group of mega-cap stocks, shares of Tesla Inc. ended down nearly 29% on the year on Wednesday, while those of chip maker Nvidia Corp. have gained more than 78% over the same stretch, according to FactSet data.
Existing gas plants omitted from EPA's initial carbon rule
The Environmental Protection Agency's upcoming regulations to limit...
The Environmental Protection Agency's upcoming regulations to limit power plant emissions, expected to be finalized in April, will focus solely on emissions from existing coal and new gas-fired power plants, leaving out existing natural gas facilities. The exclusion is temporary, as EPA Administrator Michael Regan has revealed plans for a "stronger, more durable" approach to address emissions from existing plants.
Tesla halted production in Germany after an arson attack
The automaker stopped work at its German plant indefinitely as police...
The automaker stopped work at its German plant indefinitely as police investigate what it believes was arson. A nearby electricity pylon was set on fire, cutting power to the facility, though the fire did not spread to the plant itself. Reuters reported that the blaze will cost Tesla hundreds of millions of euros, another headache for the company in Europe following an earlier pause of production due to the Red Sea shipping crisis and ongoing fights with labor unions across Scandinavia. A far-left group called Volcano Group took responsibility for the attack in a letter published by local media.
Crude oil inventories in the United States rose this week, by...
Crude oil inventories in the United States rose this week, by 423,000 barrels for the week ending March 1, according to The American Petroleum Institute (API), after analysts had predicted a 2.6 million barrel build. The API reported an 8.428-million-barrel rise in crude inventories in the week prior.
On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 0.7 million barrels as of March 1. Inventories are now at 361 million barrels—the highest level since May 2023.
Cushing inventories rose again this week, by 500,000 barrels after rising by 1.825 million barrels in the previous week.
Biden, Trump on a collision course for November. Like...
Biden, Trump on a collision course for November. Like the NBA Finals from 2016–2018, the upcoming presidential election is all but guaranteed to be a rematch after President Biden and former President Trump coasted through their primaries on Super Tuesday, the electoral extravaganza when people in 16 states and American Samoa headed to the polls. Trump’s GOP challenger Nikki Haley only won a single state—Vermont—but did not bow out of the race. Here are the main takeaways from Super Tuesday, including what we learned from down-ballot races.
Jeff Bezos surpassed Elon Musk to become the world’s richest person after he sold some of his Amazon stock and Tesla’s falling share price dinged Musk’s net worth.
Perplexity, the AI search startup challenging Google, is now valued at $1 billion after a round of funding, the WSJ reported.
McDonald’s will reportedly become the new naming sponsor of France’s top soccer league, Ligue 1, in a $65 million deal.
The Biden administration announced an $8 cap on most credit card late fees and launched a joint FTC-DOJ “strike force” to crack down on price gouging.
BowFlex, a fitness brand name you haven’t heard since 2004, filed for bankruptcy, citing the “post-pandemic environment and persistent macroeconomic headwinds.”
