U.S. stocks close higher as hopes for a 'Santa Claus rally' build
U.S. stocks rose on Monday to start a holiday-shortened...
U.S. stocks rose on Monday to start a holiday-shortened week, with artificial intelligence stocks leading the advance as optimism returned to the tech sector following positive news on key AI companies.
S&P 500: gained 0.6%, posting its third positive day in a row.
Dow Jones Industrial Average: advanced 228 points, or 0.5%.
Nasdaq Composite: climbed 0.5%.
Market Drivers: Key stocks linked to artificial intelligence boosted the broader market. NVIDIA shares rose more than 1% after Reuters reported that the company is planning to begin shipping its H200 chips to China by mid-February.
The AI trade continued its rebound from last week's volatility, with investor confidence improving on expectations that chip demand remains robust and regulatory hurdles may ease.
Sector Performance: The energy sector led the market, supported by rising oil prices amid escalating tensions between the US and Venezuela. Consumer discretionary and materials stocks also posted gains, alongside technology shares, particularly AI-related names. Utilities, by contrast, were the worst-performing sector.
Harbour Energy to Enter US Gulf with $3.2B LLOG Deal
London-based Harbour Energy plans...
London-based Harbour Energy plans to acquire LLOG Exploration Co. from LLOG Holdings in a transaction valued at $3.2 billion in cash and stock, according to a Dec. 22 press release.
The deal marks Harbour’s entry into the U.S. Gulf of America and adds a new core business unit alongside its existing operations in Norway, the U.K., Argentina and Mexico.
The acquisition brings a portfolio of conventional offshore oil assets operated by LLOG, including the Who Dat Field in Mississippi Canyon and the Buckskin and Leon-Castile fields in Keathley Canyon.
The privately held E&P said the GoA’s established infrastructure, supplier base and regulatory framework are benefits of the deal.
Energy Secretary Chris Wright is steering the Energy Department through...
Energy Secretary Chris Wright is steering the Energy Department through a sweeping overhaul that has so far included internal office reshuffles, workforce cuts, the cancellation of more than $11 billion in grants and a renewed emphasis on fossil fuels, nuclear energy and supplying electricity for AI data centers. The changes have energized industry allies while drawing sharp criticism from climate advocates and leaving open questions about their durability, the future of clean energy programs and DOE's operational capacity. Some actions could be reversed by a future administration, though funding clawbacks and grid expansion efforts could prove longer-lasting.
US producers set their sights on Canada's Montney Shale
With high-quality US shale assets in short supply, US oil and natural...
With high-quality US shale assets in short supply, US oil and natural gas producers are increasingly looking north to Canada's Montney Shale for growth opportunities. The Montney accounts for roughly half of Canada's natural gas output and captured $6.23 billion, or 28%, of Canadian upstream deal value this year, with US operators and private equity players among the buyers. Enverus estimates the basin holds more than 45 years of drilling inventory at current development rates, compared with just over a decade in the Permian, while acreage costs remain far lower.
The US pursued a third oil tanker off the coast of Venezuela
After seizing a second oil tanker this month on Saturday, a...
After seizing a second oil tanker this month on Saturday,a US Coast Guard official told multiple outlets on Sunday that the third one was “a sanctioned dark fleet vessel that is part of Venezuela’s illegal sanctions evasion” and that it was flying a false flag, though the statement was provided anonymously. Last week, President Trump ordered a “total and complete blockade” on oil tankers under sanctions entering or leaving Venezuela in an attempt to put pressure on Venezuelan President Nicolás Maduro, whom the Trump administration wants to force out of office. Experts say cutting off Venezuela’s oil trade could devastate its economy. Trump has accused Maduro of using oil to finance “Drug Terrorism,” which Maduro denied. The US has not imposed sanctions on Venezuelan oil.
