Stock-index futures extended losses and Treasury yields built on a rise Thursday after Cleveland Federal...
Stock-index futures extended losses and Treasury yields built on a rise Thursday after Cleveland Federal Reserve Bank President Loretta Mester said she had seen a “compelling” case for a half-point rate hike at its Jan. 31-Feb. 1 meeting, when policy makers lifted the fed-funds rate by a quarter of a percentage point. That came as stocks were sliding and yields had reversed a decline following a raft of economic data, including a hotter-than-expected January producer price index reading. Futures on the Dow Jones Industrial Average YM00, -0.83% were down 293 points, or 0.9%, while S&P 500 futures ES00, -1.16% dropped 1.2% and Nasdaq-100 futures NQ00, -1.49% shed 1.5%. The yield on the 2-year Treasury note TMUBMUSD02Y, 4.648% rose 3 basis points to 4.632%, while the 10-year Treasury yield TMUBMUSD10Y, 3.841% ws up 2 basis points at 3.831%.
U.S. housing starts fell 4.5% in January to lowest level since mid-2020
The numbers: Construction on new U.S. homes fell a seasonally adjusted 4.5% in January...
The numbers: Construction on new U.S. homes fell a seasonally adjusted 4.5% in January to 1.31 million, the Commerce Department said Thursday. The drop in construction on homes follows the decline in December when housing starts also fell by 3.4%
The drop was larger than what Wall Street expected. Economists polled by the Wall Street Journal expected housing starts to drop to a 1.35 million rate from December’s initial estimate of 1.38 million.
Construction is at the lowest level since June 2020,during the depths of the coronavirus pandemic. The annual rate of total housing starts fell from 27.3% in the previous year.
U.S. stocks finish higher as investors digest strong retail-sales data
U.S. stocks finished higher Wednesday after the Department of...
U.S. stocks finished higher Wednesday after the Department of Commerce reported that retail sales were stronger than anticipated in January. The Dow Jones Industrial Average DJIA, +0.11% closed 0.1% higher, while the S&P 500 SPX, +0.28% rose 0.3% and the technology-heavy Nasdaq Composite COMP, +0.92% climbed 0.9%, according to preliminary data from FactSet. Retail sales in the U.S. climbed 3% last month, a report Wednesday from the Commerce Department shows. That was the biggest increase in U.S. retail sales in almost two years, and above the 1.9% rise forecast by economists polled by the Wall Street Journal.
A month after rebranding as Vital Energy Inc., the company ...
A month after rebranding as Vital Energy Inc., the company formerly known as Laredo Petroleum announced the acquisition of Midland Basin acreage in Upton and Reagan counties, Texas, in a cash and stock deal worth roughly $214 million.
Vital Energy said Feb. 14 that it had struck a deal with Driftwood Energy Operating LLC to acquire 11,200 net acres that are currently averaging production of 5,400 boe/d (63% oil) with a decline rate of 50% over the next 12 months.
Vital Energy, based in Tulsa, Okla., said the acquisition would extend its oil-weighted inventory life with the addition of 23 net operating horizontal drilling locations in the Wolfcamp B Formation. The deal includes four net DUCs. Most of the acreage, production and inventory is located in contiguous leasehold in Upton, the company said in a news release.
Under the terms of a purchase and sale agreement, Vital Energy acquires Driftwood’s leasehold interests and hedges for $127.6 million cash and 1.57 million shares of Vital Energy stock.
The three unidentified objects recently shot down by the US military weren’t sent by aliens, and they ...
The three unidentified objects recently shot down by the US military weren’t sent by aliens, and they probably weren’t spy balloons, either, the Biden administration claimed. Instead, they could have just been balloons “tied to some commercial or benign purpose,” John Kirby of the National Security Council said. We also learned that the first missile strike intended to bring down an object over Lake Huron on Sunday missed its target, but the second one hit.
