S&P 500 closes just shy of record, Nasdaq gains 1.3% after Trump's AI initiative
U.S. stocks finished higher on Wednesday after a slew...
U.S. stocks finished higher on Wednesday after a slew of robust corporate earnings and President Donald Trump's new initiative on artificial intelligence pushed Wall Street closer to record territory.
The S&P 500 ended up by 37.13 points, or 0.6%, at 6,086.37, according to preliminary data from FactSet. The index hit an intraday record of 6,100.81 during the session, and finished just shy of its record close of 6,090.27 set on Dec. 6.
The Dow Jones Industrial Average rose 130.92 points, or 0.3%, to finish at 44,156.73.
The Nasdaq Composite finished up by 252.56 points, or 1.3%, at 20,009.34.
All three major stock averages scored their third straight day of gains, according to Dow Jones Market Data.
WaterBridge to Build Delaware Basin Produced Water Network for BPX
Midstream water management firm WaterBridge and E&P BPX Energy entered...
Midstream water management firm WaterBridge and E&P BPX Energy entered a long-term agreement for a Delaware Basin development of new produced water capacity, WaterBridge said Jan. 21.
In the basin’s Stateline region, WaterBridge will build and operate a network capable of handling 400,000 bbl/d of produced water over the next three years, with the potential to increase capacity to 600,000 bbl/d afterward. BPX is BP’s U.S. onshore oil and gas business.
Houston-based WaterBridge has an affiliate relationship with LandBridge Co., which owns more than 273,000 surface acres in the Delaware Basin. LandBridge plans to build a gathering and transport system over the acreage for transport to BPX’s developments in Reeves County, Texas.
The day after signing dozens of executive orders, the president revealed...
The day after signing dozens of executive orders, the president revealed a joint venture with OpenAI, SoftBank, and Oracle to invest hundreds of billions in AI infrastructure in the US. Dubbed “Stargate,” the venture could inflate to as much as $500 billion over the next four years, CBS News reported. Stargate will reportedly start with a data center in Texas before expanding to other states. Tech companies are racing to build more data centers to power the increase in AI-related computing.
Netflix passed 300 million subscribers in record quarter. The...
Netflix passed 300 million subscribers in record quarter. The entertainment giant and undisputed streaming wars winner reported 19 million new subscribers in Q4—the biggest addition in company history. That helped Netflix generate $10.25 billion in revenue for the quarter, above analysts’ expectations. Much of the smash quarter was owed to the platform going all-in on live sports: Netflix streamed NFL games for the first time and featured the much-hyped Tyson-Paul boxing match, which Netflix boasted was the most-streamed sporting event ever. This will be the last time the company publicly divulges subscriber figures as it pivots toward emphasizing profits instead.
Instagram is reportedly offering creators cash bonuses of up to $50,000 a month if they post exclusively to Reels in an apparent effort to capitalize on TikTok’s uncertain status in the US.
Ichiro Suzuki became the first Japanese player elected to the Baseball Hall of Fame yesterday.
The FDA approved Johnson & Johnson’s nasal spray for depression as a standalone treatment.
Oil Ends Lower as Trump’s Output and Tariffs Plans Fuel Supply Uncertainty
Oil futures ended lower on Tuesday as traders weighed prospects for crude...
Oil futures ended lower on Tuesday as traders weighed prospects for crude supplies after President Donald Trump vowed to boost already record U.S. crude output, threatened to implement a steep tariff on Canadian imports and called for replenishing the Strategic Petroleum Reserve.
West Texas Intermediate crude for February delivery fell $1.99, or 2,6%, to end at $75.89 a barrel on the New York Mercantile Exchange on the contract’s expiration day. The March contract which is now the front month, lost $1.56, or 2%, to $75.83 a barrel. WTI futures didn’t settle Monday due to the Martin Luther King Jr. Day holiday.
March Brent crude the global benchmark, declined 86 cents, or 1.1%, to $79.29 a barrel on ICE Futures Europe.
February gasoline shed 1.3% to $2.08 a gallon, while February heating oil lost 2.4% to $2.56 a gallon.
Natural gas for February delivery settled at $3.76 per million British thermal units, down 4.9%.
