Dow falls almost 400 points Tuesday, post biggest daily drop in 3 weeks
The Dow and S&P 500 closed lower on Tuesday to kick off a...
The Dow and S&P 500 closed lower on Tuesday to kick off a holiday-shortened week that has investors focused on mixed earnings reports from major banks.The Dow Jones Industrial Average DJIA, -1.14% shed about 391 points Tuesday, or 1.1%, ending near 33,911, matching its biggest daily percentage drop since Dec. 28, according to a preliminary FactSet reading. The S&P 500 SPX, -0.20% fell 0.2% and the Nasdaq Composite Index COMP, +0.14% rose 0.1%. Morgan Stanley MS, +5.91% reported results that beat analyst expectations for the fourth-quarter, but those of Goldman Sachs GS, -6.44% disappointed. Corporate earnings have been a key focus for investors monitoring signs of a looming U.S. economic recession, which could threaten the modest rally seen in stocks to kick off 2023. The yield on the 10-year Treasury rose 2.4 basis points to 3.543% on Tuesday, down from its one-year high of 4.360% in October, according to Dow Jones Market Data.
Critics of New Mexico’s oil and gas industry won’t turn down its revenue
The state of New Mexico received so much revenue from increased...
The state of New Mexico received so much revenue from increased oil and gas drilling that the governor and legislators proposed a 12% spending increase in the state budget.
While Gov. Michelle Lujan Grisham has been a proponent of renewable energy, she also has been quick to take advantage of the money brought in by the oil and gas industry. The Carlsbad Current-Argus reported the governor and legislative leaders want a $9.4 billion budget for the next fiscal year.
“I manage a Davos hotel where Bill Gates and other leaders stay.” Hans-Rudolf Ruetti...
“I manage a Davos hotel where Bill Gates and other leaders stay.” Hans-Rudolf Ruetti manages the Grandhotel Belvédère, where the most important World Economic Forum participants stay. He said staff barely sleep and live off Red Bull and chocolate — but it’s worth it. Here’s why.
U.S. stocks struggle for direction at the open as investors weigh Goldman, Morgan Stanley earnings
U.S. stocks struggled for direction at the open on Tuesday, as investors weighed earnings from Goldman...
U.S. stocks struggled for direction at the open on Tuesday, as investors weighed earnings from Goldman Sachs Group Inc. and Morgan Stanley as trading resumed following a three-day weekend honoring Martin Luther King Jr. The Dow Jones Industrial Average DJIA, -0.56% was down 0.2% soon after the opening bell, while the S&P 500 SPX, -0.01% edged up 0.1% and the Nasdaq Composite COMP, 0.02% was trading about flat, according to FactSet data, at last check. Goldman Sachs and Morgan Stanley on Tuesday reported their results for the fourth quarter, with Goldman GS, -3.63% missing earnings estimates while Morgan Stanley MS, 5.56% beat analysts' forecasts. In economic data released Tuesday, the New York Fed's Empire State business conditions index, a gauge of manufacturing activity in the state, tumbled to the lowest level since the worst of the pandemic in 2020.
