U.S. initial and continuing unemployment claims decline in mid-August
The numbers: The number of people who applied for unemployment benefits last week fell...
The numbers: The number of people who applied for unemployment benefits last week fell to a one-month low of 243,000, indicating layoffs remain near record lows and that a tight labor market is keeping the U.S. economy moving forward. New jobless claims fell by 2,000 from a revised 245,000 (initially 250,000) in the prior week.
The number of people applying for jobless benefits is one of the best barometers of whether the economy is getting better or worse.
New unemployment filings had fallen to as low as 166,000 in late March — the second-fewest on record — before turning higher as the economy slowed. They recently topped out this summer at 261,000 and have begun creeping lower again.
Benchmark U.S. crude oil for October delivery rose...
Benchmark U.S. crude oil for October delivery rose $1.15 to $94.89 a barrel Wednesday. Brent crude for October delivery rose $1 to $101.22 a barrel.
Wholesale gasoline for September delivery fell 13 cents to $2.80 a gallon. September heating oil rose 17 cents to $4.01 a gallon. September natural gas rose 14 cents to $9.33 per 1,000 cubic feet.
U.S. stocks finish higher, snapping three-day losing streak
U.S. stocks finished modestly higher Wednesday, with all three major stock benchmarks...
U.S. stocks finished modestly higher Wednesday, with all three major stock benchmarks ending a 3-session skid, as investors picked up shares after a sharp market selloff earlier this week. The Dow Jones Industrial Average DJIA, +0.18% rose about 61 points, or 0.2%, ending near 32,970, while the S&P 500 index SPX, +0.29% closed up 0.3% and the Nasdaq Composite Index COMP, +0.41% advanced 0.4%. Stocks booked modest gains as investors remained focused on the Federal Reserve's inflation fight and Fed Chairman Jerome Powell's speech at the Jackson Hole, Wyo. symposium on Friday. Recession worries also were in focus, with pending home sales falling in July, a sign that rate hikes have been helping cool demand, even though shelter costs, specifically rents, have contributed to high U.S. inflation.
US Crude, Fuel Stockpiles Shrink While Gasoline Demand Drops: EIA
U.S. crude and fuel inventories fell last week, the Energy Information Administration (EIA) said on Aug....
U.S. crude and fuel inventories fell last week, the Energy Information Administration (EIA) said on Aug. 24, while weakening gasoline consumption fanned concerns about slowing demand.
Crude inventories fell by 3.3 million barrels in the week to Aug. 19 to 421.7 million barrels, compared with analysts’ expectations in a Reuters poll for a 933,000-barrel drop.
The inventory decline would have been larger if not for another big release of barrels from U.S. Strategic Petroleum Reserve (SPR). The U.S. released more than 8 million barrels from the SPR last week, offsetting a drop in production and a modest uptick in refining activity.
