U.S. stocks end higher after strong jobs report as S&P 500 ekes out weekly gain
U.S. stocks ended higher Friday after a stronger-than-expected...
U.S. stocks ended higher Friday after a stronger-than-expected jobs report, with all three major benchmarks picking up steam in late afternoon trading to eke out weekly gains.
The Dow Jones Industrial Average rose 341.16 points Friday, or 0.8%, to close at 42,352.75, notching a record high.
The S&P 500climbed 51.13 points, or 0.9%, to finish at 5,751.07.
The Nasdaq Composite rallied 219.37 points, or a sharp 1.2%, to end at 18,137.85.
For the week, the S&P 500 advanced 0.2%, while the Dow and Nasdaq each edged up 0.1%. All three major U.S. equities benchmarks booked a fourth straight week of gains.
The death toll from Hurricane Helene has surpassed 200 people across six states as crews continue searching for survivors in remote areas one week after Helene struck the US. Roughly 900,000 people remain without power (see map), and tens of thousands without running water, as of this writing.
Hurricane Helene is the deadliest storm to make landfall on the US mainland since Hurricane Katrina in 2005 (see list). At least 72 victims died in Buncombe County, North Carolina, which includes Asheville and was hardest hit within Helene's roughly 600-mile-long path of destruction. Helene and other storm systems in the past week dumped more than 30 inches of rain on North Carolina, triggering the biggest flooding in the state's recorded history. See photos here.
Meanwhile, Hurricane Kirk strengthened into a Category 4 storm in the Atlantic. The storm will remain in open waters but is expected to create life-threatening surf and rip currents along the US East Coast this weekend. On the other side of the world, at least two people were killed, 200 injured, and more than 10,000 evacuated after Typhoon Krathon struck southern Taiwan.
Canada's Montney Shale draws increased US investment
As US shale opportunities dwindle, US companies such as ConocoPhillips,...
As US shale opportunities dwindle, US companies such as ConocoPhillips, Ovintiv and Murphy Oil are turning north to Canada's Montney Shale, lured by its rich condensate reserves, longer inventory lifespan and strong economics. The region's natural gas production is forecast to surpass 10 Bcf/d by the end of the year and reach 15.4 Bcf/d by 2030, but regulatory hurdles, infrastructure constraints and volatile gas prices could hinder its growth.
Methane pyrolysis could unlock new value for gas firms
Methane pyrolysis, a process that converts natural gas into hydrogen...
Methane pyrolysis, a process that converts natural gas into hydrogen and carbon without emitting CO2, offers gas producers a dual opportunity for revenue generation and decarbonization. "Methane pyrolysis sits in this weird little space in between where it's currently proven and really interesting at distributed scale, takes advantage of existing infrastructure and has scalability potential, but it still has some challenges to solve along the way," said Lindsey Motlow of Darcy Partners.
Williams' Transco pipeline has begun receiving around 300 MMcf/d of...
Williams' Transco pipeline has begun receiving around 300 MMcf/d of Permian Basin natural gas from the new 580-mile, 2.5-Bcf/d Matterhorn Express Pipeline connecting the Waha hub to the Houston area. The new pipeline brings relief to a market strained by limited capacity, helping narrow the gap between Waha and Henry Hub prices.
