Dow, S&P 500 score 5th day of gains, Nasdaq ends down as tariff-wary investors await busy week of earnings and economic data
Stocks finished mostly higher Monday ahead of...
Stocks finished mostly higher Monday ahead of a busy week of economic data and an onslaught of corporate earnings, including results from four members of the so-called Magnificent 7. Investors look for signs of progress on the trade front and any signs of damage from tariffs.
The S&P 500 gained 0.06%, closing at 5,528.75, marking its fifth consecutive day of gains. The Nasdaq Composite, however, ticked 0.1% lower, finishing at 17,366.13. The Dow Jones Industrial Average rose by 114.09 points, or 0.28%, to settle at 40,227.59.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
U.S. energy firms this week added oil and natural gas rigs for a second...
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, for the first time since February, energy services firm Baker Hughes said in its closely followed report on April 25.
The total oil and gas rig count, an early indicator of future output, rose by two to 587 in the week to April 25.
Despite this week's rig increase, Baker Hughes reported that the total count was still down 26, or 4% below the same time last year.
Baker Hughes said oil rigs rose by two to 483 this week, while gas rigs increased by one to 99.
In April, drillers cut the number of rigs operating by five, putting the total count down for a second month in a row with oil rigs down by one and gas rigs off by four.
E&Ps Show ‘Unusual’ Discipline with $4 NatGas Strip
Haynesville Shale producers are exhibiting rare discipline in the face...
Haynesville Shale producers are exhibiting rare discipline in the face of elevated natural gas prices, forcing some analysts to redraw their growth forecasts.
Haynesville E&Ps aren’t racing to drill up scarce shale gas inventory as the “golden age of natural gas” begins to take form.
Henry Hub futures will average $3.56 for the rest of 2025, according to CME Group data. Forward prices are at a healthy $4/Mcf for the rest of 2026, Expand Energy President and CEO Nick Dell’Osso said. He spoke April 24 at the “Powering AI Global Leadership Summit” hosted by Oklahoma State University’s Hamm Institute for American Energy.
Yet, U.S. gas rigs are down from the levels seen a year ago, when prices hovered around $1.50, according to Energy Information Administration (EIA) data.
“That’s unusual,” Dell’Osso said. “When you see a forward curve of $4 for natural gas, you should see that rig count go up.”
Earnings weeks don’t get much bigger than this: While...
Earnings weeks don’t get much bigger than this: While you may be counting down the days to Summer Fridays, about 180 S&P 500 companies are set to release their earnings this week, with four of the Mag 7 taking center stage—Microsoft and Meta report on Wednesday; Apple and Amazon on Thursday. The S&P is coming off its second positive week out of the past three, and the Q1s for these tech giants have the potential to keep the “we’re so back” vibes going. Microsoft’s report should provide insight into its AI business, and Apple CEO Tim Cook could outline a plan to address any trade tensions involving China and the expansion of manufacturing in India.
At least 11 people were killed after a vehicle rammed into a crowd at a Vancouver street festival.
An explosion at Iran’s largest shipping port killed at least 40 people. Authorities say foul play is not suspected.
The tuition-free primary school founded by Mark Zuckerberg and his wife, Priscilla Chan, will close at the end of the 2025–2026 school year.
Amplify Energy Cancels PRB, D-J Deal on 'Extraordinary Volatility'
Amplify Energy terminated a multi-basin Rockies acquisition with Juniper...
Amplify Energy terminated a multi-basin Rockies acquisition with Juniper Capital, citing “extraordinary volatility in the market,” the company said April 25.
It was referred to as a “transformational combination” when Amplify announced the transaction as markets opened on January 15.
The deal with Juniper would have added 287,000 net acres in the oil-weighted Denver-Julesburg (D-J) and Powder River Basins, around 115,000 of which were operated and HBP.
The acquired assets produced 7,900 boe/d (81% oil, 90% liquids) as of the third quarter of 2024.
Under the original merger terms, Amplify would have issued 26.7 million shares to Juniper and assumed $133 million in net debt.
Based on Amplify’s closing price of $6.48 per share on Jan. 14—the day before the announcement—the equity portion of the Juniper deal was valued at around $173 million, excluding debt. Juniper will receive an $800,000 cash payment in lieu of any other payable transaction fee, Amplifiy said.
