A lot of earnings are on tap: This week, more than...
A lot of earnings are on tap: This week, more than 100 S&P 500 stocks will drop their quarterly financials, including tech giants Meta, Microsoft, Apple, and Tesla. Tech stocks have outpaced the broader market during the early days of Trump’s presidency, but they could confirm Wall Street fears that growth is slowing. Anticipation will also be high for Starbucks’s report to learn how its turnaround is progressing under new CEO Brian Niccol—especially given the news he’s already been awarded $96 million in compensation for the new gig.
An inch of rain will fall on Los Angeles in the coming days, which may cause toxic ash runoff. As of Sunday, the Eaton Fire was 95% contained and the Palisades Fire, 87%.
President Trump fired at least 15 inspectors general Friday night in a move that may be illegal.
Kia is recalling more than 80,000 Niros over seat belt and airbag issues.
Elon Muskspoke via live video at a German far-right campaign event, saying it was time for Germans to “move on” from “past guilt.”
Madison Keys of the US defeated Aryna Sabalenka to become the second-oldest woman to win the Australian Open. She’s 29. Jannik Sinner took home the title on the men’s side for the second year in a row.
Colombia Agrees to Accept Deportation Flights After Trump Threatens Tariffs
Under threats from President Trump that...
Under threats from President Trump that included steep tariffs, President Gustavo Petro of Colombia has relented and will allow U.S. military planes to fly deportees into the country, after turning two transports back in response to what he called inhumane treatment.
The two leaders had engaged in a war of words on Sunday after Colombia’s move to block Mr. Trump’s use of military aircraft in deporting thousands of unauthorized immigrants.
But on Sunday night, the White House released a statement in which it said that because Mr. Petro had agreed to all of its terms, the tariffs and sanctions Mr. Trump had threatened would be “held in reserve.” Other penalties, such as visa sanctions, will remain in effect until the first planeload of deportees has arrived in Colombia, the statement said.
“Today’s events make clear to the world that America is respected again,” it added.
In his inaugural address, Trump claimed he would reclaim...
In his inaugural address, Trump claimed he would reclaim the Panama Canal from Panamanian control, criticizing China's infrastructure involvement and high transit fees for US ships. This follows the canal's transfer to Panama in 1999 after decades of US control.
The canal, completed in 1914 at a cost of $13.5 billion (in today's dollars), was handed over to Panama through treaties signed in 1977. Panama has since invested $5 billion in modernizing the canal, generating $2.5 billion annually in transit fees.
Trump's suggestion of forcibly retaking the canal has been criticized by Panamanian and Chinese officials, who emphasize the canal's status as a neutral international waterway.
Many Asian countries celebrate new year at this time, including Vietnam...
Many Asian countries celebrate new year at this time, including Vietnam and Korea. Lunar New Year, often called the Spring Festival or Chinese New Year, is the most important holiday in China and many other Asian communities. It is an annual 15-day festival that begins with the new moon between Jan. 29 and Feb. 27 in Western calendars and this year falls on Jan. 29. The festival lasts until the following full moon, ending this year with the Lantern Festival on Feb. 12. The holiday began as a time for feasting and to honor household and heavenly deities, as well as ancestors.
U.S. Rig Count Falls to Lowest Level Since December 2021
U.S. energy firms cut the number of active oil and gas rigs for a third consecutive week,...
U.S. energy firms cut the number of active oil and gas rigs for a third consecutive week,reducing the total by four to 576as of January 24, the lowest since December 2021, according to Baker Hughes. The rig count is now down 45 rigs, or 7%, from the same time last year.
Oil rigs dropped by six to 472, while gas rigs rose by one to 99. In the Permian Basin, the nation’s largest oil-producing shale region, the rig count fell by six to 298, the lowest since February 2022 and the largest weekly decline since August 2023.
The rig count has declined by 5% in 2024 and 20% in 2023 as lower oil and gas prices pushed energy firms to prioritize debt reduction and shareholder returns over production growth.
Despite potential further declines in crude prices, the EIA projects U.S. crude output will rise from 13.2 million barrels per day (bpd) in 2024 to 13.6 million bpd in 2025. On the gas side, a projected 43% increase in spot gas prices in 2025 is expected to spur higher drilling activity, reversing recent declines. The EIA forecasts gas production will rise to 104.5 billion cubic feet per day (bcfd) in 2025, up from 103.1 bcfd in 2024 and a record 103.6 bcfd in 2023.
