Dow ekes out gain as S&P 500, Nasdaq close slightly lower
U.S. stocks finished lower Wednesday, with the S&P 500 booking...
U.S. stocks finished lower Wednesday, with the S&P 500 booking back-to-back losses as investors continued assessing companies' quarterly earnings results.The Dow Jones Industrial Average DJIA, +0.03% closed about flat, while the S&P 500 SPX, -0.02% slipped less than 0.1% and the technology-heavy Nasdaq Composite COMP, -0.18% shed 0.2%, according to preliminary data from FactSet. Among the S&P 500's 11 sectors, utilities had the worst performance with a 1.4% drop. Guidance companies provide on their outlook is also weighing on market sentiment amid concern over a slowing U.S. economy, with tech-giant Microsoft Corp. MSFT, -0.59% warning in a conference call Tuesday that projected revenue could be lower than Wall Street forecast.
Crude oil prices saw a minor increase today when the U.S. Energy...
Crude oil prices saw a minor increase today when the U.S. Energy Information Administration reported an oil inventory build of 500,000 barrels for the week to January 20.
The latest change in inventories compared with two sizeable weekly builds—one of 8.4 million barrels for the second week of January and a 19-million-barrel one for the first week of the month.
At 448.5 million barrels, crude oil inventories in the United States are 3 percent above the five-year average for this time of year.
Hess Corp. set its CAPEX at $3.7 billion for 2023. The bulk of...
Hess Corp. set its CAPEX at $3.7 billion for 2023. The bulk of the spending will target high-margin and high-return assets in the Bakken and offshore Guyana in the Stabroek Block.
Approximately $1.45 billion (39%) will be for production, $1.7 billion (46%) for offshore Guyana developments and $550 million (15%) for exploration and appraisal activities, the company said Jan. 24 in a press release.
Freeport LNG seeks FERC permission for partial restart
Freeport LNG is seeking approval from the Federal Energy...
Freeport LNG is seeking approval from the Federal Energy Regulatory Commission to inject liquefied natural gas into a piping system as an initial step toward resuming normal operations at the 16.5-million-short-ton-per-year export facility in Texas. The company also announced the completion of repair work at the plant.
The country’s largest private employer is boosting its minimum wage for hourly US employees to $14 from $12 starting next month. The pay bump will affect ~340,000 Walmart employees, and raise the company’s average hourly wages above $17.50. Handing out raises isn’t trendy in these layoff-ridden times, but demand for workers in retail/logistics has stayed robust, and Walmart doesn’t pay as well as Amazon or Target, its main rivals.
