Nasdaq ends up 3%, extending rally as Meta stock lifts tech sector
The Nasdaq posted its best day of gains since November on Thursday,...
The Nasdaq posted its best day of gains since November on Thursday, as stock-market bulls cheered the Federal Reserve's decision a day before to raise interest rates by a smaller 25 basis point increment and embraced hints that a pause in rate hikes could be coming in a few months.The S&P 500 index SPX, 1.47% rose about 1.5%, while the Nasdaq Composite Index COMP, 3.25% jumped 3.3%, its best daily percentage gain since Nov. 30, according to Dow Jones Market Index. Both stock-market gauges surged in the final moments of trade. On the flip side, the Dow Jones Industrial Average DJIA, -0.11% shed about 39 points, or 0.1%, ending near 34,053, after posting back-to-back gains this week.
ConocoPhillips joins rivals with bumper profit on higher energy prices
ConocoPhillips said on Thursday profit more than doubled to $18.7...
ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from higher prices on tight supplies and robust demand.
Houston-based ConocoPhillips also declared a variable dividend of 60 cents, and said it plans to return $11 billion to shareholders in 2023.
ConocoPhillips expects capital expenditure to be between $10.7 billion and $11.3 billion this year which includes spending on its Willow oil and gas drilling project in Alaska, which received scaled-back support from the Biden administration on Wednesday.
U.S. weekly jobless claims fell to lowest level since April at end of January
The numbers: The number of Americans who applied for unemployment benefits at the end...
The numbers: The number of Americans who applied for unemployment benefits at the end of January fell to a nine-month low of 183,000, signaling the U.S. labor market is still going strong despite more reports of corporate layoffs.
Economists polled by the Wall Street Journal had forecast new claims would total 195,000 in the seven days ending Jan 28. The figures are seasonally adjusted.
The number of people applying for jobless benefits is one of the best barometers of whether the economy is getting better or worse.
US stock futures rise early Thursday following the Fed's latest interest rate decision....
US stock futures rise early Thursday following the Fed's latest interest rate decision. Meanwhile, Meta stock surged almost 19% in premarket trading after the company beat revenue estimates and announced a $40 billion stock buyback. Here are the latest market moves.
Earnings on deck: Alphabet, Apple, and Amazon, all reporting.
EIA: US crude, gas production took different paths in Nov.
US crude oil production slipped from a 31-month high of 12.41 million barrels per day in October to 12.38...
US crude oil production slipped from a 31-month high of 12.41 million barrels per day in October to 12.38 million bpd in November, while gross natural gas output in the contiguous US jumped by 0.2 Bcf/d to a record 112.2 Bcf/d during the month, the Energy Information Administration reported. EIA figures also show that domestic demand for crude and petroleum products increased by 178,000 bpd to 20.59 million bpd in November.
