Trump told both Democrats on the FTC “you’re fired.” In ...
Trump told both Democrats on the FTC “you’re fired.” In firing the two Democratic commissioners on the Federal Trade Commission, which enforces consumer protection and antitrust laws, President Trump likely set the stage for a legal battle. The two axed commissioners, Alvaro Bedoya and Rebecca Kelly Slaughter, both called their firings “illegal” and vowed to sue. However, Republican FTC Chair Andrew Ferguson said he had no doubt the president acted within his “constitutional authority.” Potentially at issue is a 1935 Supreme Court decision that says the president can’t remove a commissioner without good cause. Some, including Slaughter, have questioned what the firings could mean in the future for the Fed’s Jerome Powell, who is protected by the same court decision but has clashed with Trump.
President Trump is expected to issue an order today calling for the closure of the Department of Education.
A jury found Greenpeace liable for actions taken during protests against the Dakota Access oil pipeline and said it should pay pipeline company Energy Transfer more than $650 million in damages.
The value of X has reportedly rebounded to the $44 billion Elon Musk paid to buy the social media platform.
Ekrem Imamoglu, the mayor of Istanbul and a political rival of President Recep Tayyip Erdogan, was arrested days before he was expected to be named the opposition candidate for the next presidential election.
The Trump administration said it would withhold $175 million in federal funds from UPenn for allowing transgender athletes to compete on its women’s teams.
The government released more than 63,000 pages of records related to the assassination of President John F. Kennedy, but so far, historians haven’t found much new information in them.
The EIA reported that commercial crude inventories climbed by...
The EIA reported that commercial crude inventories climbed by 1.4 million barrels for the week that ended March 14. The government agency has now reported three consecutive weekly gains in crude supplies.
According to analysts surveyed by Platts, part of S&P Global Commodity Insights, the data were expected to show an average rise of 1.2 million barrels. Late Tuesday, however, the American Petroleum Institute reported a crude-inventory rise of 4.6 million barrels, according to a source citing the data.
The EIA also reported weekly supply declines of 500,000 barrels of gasoline and 2.8 million barrels of distillates. The survey forecast supply decreases of 2.3 million barrels of gasoline and 370,000 barrels of distillates.
The smaller-than-expected drawdown in gasoline inventories could indicate a “more healthy U.S. appetite for air travel,” said Tradition Energy’s Cunningham, especially in light of the larger-than-expected draw in distillates, which include jet fuel.
The EIA said gasoline demand fell, with total finished motor gasoline supplied, a proxy for demand, at 8.817 million barrels per day in the latest week, versus 9.182 million bpd a week earlier.
U.S. oil production changed little, at 13.57 million bpd in the latest week, the EIA said, while crude stocks at the Cushing, Okla., Nymex delivery hub declined by 1 million barrels to 23.5 million barrels.
Oil settles higher after latest U.S. supply data, Russia-Ukraine cease-fire on energy infrastructure
Oil futures posted a gain on Wednesday, giving up early...
Oil futures posted a gain on Wednesday, giving up early losses after official U.S. data revealed weekly declines in petroleum-product stockpiles and a third consecutive weekly rise in commercial crude inventories.
Crude prices had traded lower early Wednesday, pressured after Russian President Vladimir Putin rejected on Tuesday a full cease-fire in the country’s war against Ukraine but agreed to a mutual halt on attacks on energy infrastructure for 30 days.
West Texas Intermediate crude for April delivery increased by 26 cents, or 0.4%, to settle at $67.16 a barrel on the New York Mercantile Exchange.
May Brent crude, the global benchmark, climbed 22 cents, or 0.3%, at $70.78 a barrel on ICE Futures Europe. Brent and WTI have ended higher in seven of the last 10 trading sessions.
April gasoline added nearly 0.1% to $2.17 a gallon, while April heating oil rose 1.7% to $2.23 a gallon.
Natural gas for April delivery settled at $4.25 per million British thermal units, up 4.8%.
U.S. stocks finished higher on Wednesday after the Federal...
U.S. stocks finished higher on Wednesday after the Federal Reserve decided to leave interest rates unchanged at a range of 4.25% to 4.50% for a second straight meeting.
Meanwhile, the central bank's so-called dot plot, used by Fed officials to indicate their new projections on the economy and the future path of rates, showed policymakers still penciled in two rate reductions this year. They also saw lower economic growth and higher inflation for 2025, which could raise fears of stagflation.
The Dow Jones Industrial Average rose 383.32 points, or 0.9%, to end at 41,964.63, according to FactSet data.
The S&P 500 was up 60.63 points, or 1.1%, to end at 5,675.29.
The Nasdaq Composite popped 246.67 points, or 1.4%, ending at 17,750.79.
"The Fed meeting delivered a dovish surprise that stock-market bulls have welcomed. They kept rates on hold, and as expected, they revised down their growth outlook and revised up their inflation outlook. This does not sound like the basis for a dovish surprise..." said Kathleen Brooks, research director at XTB.
Stocks bounced back this week from their sharp selloff over the past month, after uncertainty around President Donald Trump's tariff plans sent financial markets into a tailspin.
Zelensky Agrees to Limited Cease-Fire in Call With Trump
President Volodymyr Zelensky of Ukraine agreed to halt strikes on energy...
President Volodymyr Zelensky of Ukraine agreed to halt strikes on energy infrastructure in a limited cease-fire deal also backed by Russia, according to a statement from the Trump administration after a call between the Ukrainian leader and President Trump. The statement said the two leaders also discussed the possibility of American ownership of Ukrainian energy facilities, including nuclear plants. Mr. Trump said such an arrangement would best protect those sites. They spoke a day after a call between Mr. Trump and President Vladimir V. Putin of Russia.
