Oil futures rose Thursday, bouncing after suffering a two-day fall to begin 2023 on fears of a global...
Oil futures rose Thursday, bouncing after suffering a two-day fall to begin 2023 on fears of a global economic slowdown and surging COVID cases in China.
Investors were also awaiting official U.S. storage data after figures from an industry trade group were said to show a rise in crude and gasoline inventories last week.
West Texas Intermediate crude for February delivery CL00, 0.49%CL.1, 0.49%CLG23, 0.48% rose $1.56, or 2.1%, to $74.40 a barrel on the New York Mercantile Exchange.
March Brent crudeBRN00, 0.57%BRNH23, 0.62%, the global benchmark, was up $1.66, or 2.2%, at $79.50 a barrel on ICE Futures Europe.
Back on Nymex, February gasoline RBG23, 0.69% rose 1.8% to $2.30 a gallon, while February heating oil HOG23, 1.10% gained 2.9% to $3.058 a gallon.
February natural-gas futuresNGG23, -8.46% dropped 3.4% to $4.029 per million British thermal units.
Amazon confirms more than 18,000 layoffs, far more than originally expected
Amazon.com Inc.’s ...
Amazon.com Inc.’s AMZN, -0.79% layoffs will affect more than 18,000 employees, the highest reduction tally revealed in the past year at a major technology company as the industry pares back amid economic uncertainty.
The Seattle-based company in November said that it was beginning layoffs among its corporate workforce, with cuts concentrated on its devices business, recruiting and retail operations. At the time, The Wall Street Journal reported the cuts would total about 10,000 people. Thousands of those cuts began last year.
The rest of the cuts will bring the total number of layoffs to more than 18,000 and will be made over the coming weeks.As of September, Amazon employed 1.5 million people, with a large percentage of them in its warehouses. The layoffs are concentrated in the company’s corporate ranks.
Benchmark U.S. crude oil for February delivery fell $4.09 to $72.84 a barrel Wednesday. Brent crude for March delivery fell $4.26 to $77.84 a barrel.
Wholesale gasoline for February delivery fell 10 cents to $2.26 a gallon. February heating oilfell 12 cents to $2.97 a gallon. February natural gas rose 18 cents to $4.17 per 1,000 cubic feet.
Stocks close higher Wednesday despite Fed indications of no rate cuts this year
U.S. stocks finished higher on Wednesday, with both the S&P...
U.S. stocks finished higher on Wednesday, with both the S&P 500 and Dow Jones Industrial Average turning green for the year, as investors parsed minutes from the previous Fed meeting along with more economic data. The S&P 500 SPX, +0.75% advanced 28.83 points, or 0.8%, to close at 3,852.97. The Nasdaq Composite COMP, +0.69% gained 71.78 points, or 0.7%, to finish at 10,458.76. The Dow DJIA, +0.40% gained 133.40 points, or 0.4%, to 33,269.77.
