Dow ends at record high, S&P 500 flat, Nasdaq slips as earnings season ramps up
U.S. stocks finished mixed on Tuesday with the Dow Jones...
U.S. stocks finished mixed on Tuesday with the Dow Jones Industrial Average booking a new all-time closing high as investors digested strong third-quarter earnings from 3M and Coca-Cola.
The Dow advanced 218.16 points, or 0.5%, to end at 46,924.74, according to FactSet data. The blue-chip index has risen for three consecutive trading days.
The S&P 500 ended flat, at 6,735.35.
The Nasdaq Composite lost 36.88 points, or nearly 0.2%, to finish at 22,953.67
SLB CEO doubtful of N. American rebound despite profit beat
A significant recovery in North American drilling activity is unlikely...
A significant recovery in North American drilling activity is unlikely amid persistently high production costs in certain shale basins, said SLB CEO Olivier Le Peuch, adding that he expects international markets to drive the next rebound. SLB exceeded third-quarter profit expectations, posting an adjusted $0.69 per share versus estimates of $0.66, with North America revenue up 14% to $1.93 billion following its $7.75 billion acquisition of ChampionX.
Permian to lead $156B water management spending boom
US water management spending is projected to grow at a 2.1% compound...
US water management spending is projected to grow at a 2.1% compound annual rate to $156 billion over the next five years, as rising energy demand drives oil, gas and water midstream companies to expand investments, according to a new Bluefield Research report. The Permian Basin is seen accounting for two-thirds of total spending, while recycled produced water is expected to supply 75% of hydraulic fracturing water demand by 2030.
Ecuador’s Declining Oil Output Threatens to Spark an Economic Crisis
The last decade has been especially grueling for Ecuador’s economically...
The last decade has been especially grueling for Ecuador’s economically vital oil industry. Plummeting investment, heavily corroded infrastructure, endemic corruption, violent protests, severe oil spills and rising insecurity are all weighing on operations. The sharp decline in oil production is weighing heavily on government finances at a time of increased spending due to a national security crisis. To rescue the economically crucial industry and boost fiscal revenue, President Daniel Noboa launched a $47 billion plan to revive Ecuador’s crumbling hydrocarbon sector. Already, this ambitious plan is encountering considerable opposition, with evidence of Ecuador’s oil production being stuck in a death spiral.
Ecuador’s oil industry is locked in a death spiral from which it appears incapable of recovering. For the first nine months of 2025, an average of 430,542 barrels per day was lifted in Ecuador. While for September 2025, output averaged 468,295 barrels per day, which is marginally lower than the 469,232 barrels per day lifted for the same period a year earlier. As the chart below, from Ecuador’s central bank, shows oil production has steadily declined since 2019, after it peaked at 555,228 barrels per day during November that year.
US and Australia make rare earths deal to counter China
With China clamping down on the export of rare earth minerals needed...
With China clamping down on the export of rare earth minerals needed to make electronics amid the trade war, President Trump and Australian Prime Minister Anthony Albanese signed an agreement—which the White House described as a “framework”—with plans for projects worth up to $8.5 billion combined. It calls for each country to invest $1 billion in some of those projects within the next six months. But China still dominates, currently controlling 70% of rare earths mining and 90% of the processing, and access to them will likely be a big part of the discussion when Trump meets with China’s Xi Jinping next week.
