There will be no rest for investors this week as they await a...
There will be no rest for investors this week as they await a marquee report on the state of the U.S. labor market, along with biannual Congressional testimony from Federal Reserve Chairman Jerome Powell.
Further complicating things, investors will also be watching to see how stocks react to more attractive risk-free returns in the bond market after the yield on the 10-year Treasury note last week temporarily topped the 4% threshold, with many expecting it to climb even further.
Rig counts fell last week in Oklahoma and across the U.S.
Oklahoma and the nation saw another decline in the past week of active oil and gas rigs, according to...
Oklahoma and the nation saw another decline in the past week of active oil and gas rigs, according to figures released by Baker Hughes Co. Oklahoma’s count dropped one to 61 rigs. A year ago, the state had 49 active rigs.
Nationally, the total rig count dropped by 4 to 749. The decline came as the number of oil rigs fell by 8 leaving 592 while the number of gas rigs increased by 3 to 154. The U.S. count is still 99 more than a year ago when there were 650 drilling rigs active. In the past year, the gain included 73 more oil rigs and 24 more gas rigs.
The number of rigs in Texas dropped by 4 to 366 while New Mexico’s count was unchanged at 106 and North Dakota remained at 41. Louisiana rig activity fell by two to 62. Colorado stayed at 17.
Apple’s manufacturing partner, the Taiwanese company Foxconn, has plans to ...
Apple’s manufacturing partner, the Taiwanese company Foxconn, has plans to build a $700 million, 300-acre plant in India. This is one of Foxconn’s biggest investments in the country and is a flashing red signal that China is potentially losing its consumer electronic heavyweight title. The new factory is expected to create 100,000 jobs in the southern Indian state of Karnataka. That’s actually small-ish for Foxconn: The company’s iPhone factory in Zhengzhou, China, employs about 200,000 people.
U.S. stocks end sharply higher Friday to cap winning week
U.S. stocks rose sharply Friday to book big weekly gains,...
U.S. stocks rose sharply Friday to book big weekly gains,shrugging off earlier weakness as Treasury yields eased back from their highs of 2023. The S&P 500 index SPX rose about 1.6% on Friday, its best daily percentage gain since Jan. 20, according to FactSet data. The Dow Jones Industrial Average DJIA gained 1.2%, or about 386 points, ending near 33,386, based on preliminary figures. The Nasdaq Composite Index COMP rose 2%. The pullback in the benchmark 10-year Treasury rate on Friday helped stocks gain momentum while breaking a string of weekly losses, with the Dow ending up 1.8% for the week, the S&P 500 up 1.9% and the Nasdaq advancing 2.6% for the week.
