In earnings news, Chevron Corp. reported a third-quarter net income of $11.23 billion....
In earnings news, Chevron Corp. reported a third-quarter net income of $11.23 billion. The San Ramon, California-based company said it had a profit of $5.78 per share. Earnings, adjusted for non-recurring gains, came to $5.56 per share, topping Wall Street expectations. The oil company posted revenue of $66.64 billion in the period, which also beat Street forecasts. Exxon Mobil Corp. reported a third-quarter profit of $19.66 billion. On a per-share basis, the Irving-Texas-based company said it had a profit of $4.68. Earnings, adjusted for non-recurring gains, came to $4.45 per share, also topping expectations.
U.S. annual core inflation rate measured by PCE price index rises in September
The numbers: A key gauge of U.S. inflation rose a mild 0.3% in September, aided by...
The numbers: A key gauge of U.S. inflation rose a mild 0.3% in September, aided by the lower cost of gas. Yet prices are still going up even if they aren’t climbing as fast as they were earlier in the year.
Another measure of inflation that omits volatile food and energy costs rose a sharp 0.5% last month. Wall Street had forecast a 0.5% increase in the so-called core personal consumption expenditures price index.
The Federal Reserve views the PCE index as the best barometer of inflation trends. What it’s shown lately are easing but still-high price pressures.
Key details: The overall rate of inflation in the past year was unchanged at 6.2% compared to the prior month.
The core rate of inflation in the past 12 months climbed to 5.1% from 4.9%. That leaves it just a few ticks below a 40-year high of 5.4% in February.
Surprise: The war in Ukraine will boost renewable energy
Russia’s invasion of Ukraine, and the corresponding shock to energy markets, will likely ...
Russia’s invasion of Ukraine, and the corresponding shock to energy markets, will likely speed up the transition away from fossil fuels, the International Energy Agency (IEA) said. That’s because this year’s spike in energy prices has spurred countries to invest more in renewables,such as the US’ Inflation Reduction Act and Japan’s “green transformation” program. Under current global policies, carbon dioxide emissions are expected to peak by 2025.
📉 Zuck’s only giving out Tootsie Rolls this Halloween
A day after reporting dismal earnings, Meta shares lost nearly a ...
A day after reporting dismal earnings, Meta shares lost nearly a quarter of their value, knocking it off the list of the 20 most valuable US companies. Since Meta’s stock peaked in September 2021, it’s tumbled 74%, equivalent to more than $730 billion in market cap going poof. And CEO Mark Zuckerberg’s fortune has shrunk by more than $100 billion in the last 13 months.
