Harris proposes a smaller capital gains tax hike than Biden
VP Kamala Harris may have been swapped in so quickly as a candidate that...
VP Kamala Harris may have been swapped in so quickly as a candidate that the party platform approved at the Democratic National Convention still had Joe Biden’s name on it, but now she’s putting her own policy spin on things, breaking with the president on the size of a proposed increase to the capital gains tax rate. Speaking in New Hampshire, Harris pitched a 28% top tax rate for when investments are sold, more than the current 23.8% top rate, but less than the 39.6% rate Biden supported.
A bad day for Nvidia got even worse on Tuesday when Bloomberg reported...
A bad day for Nvidia got even worse on Tuesday when Bloomberg reported that the Department of Justice subpoenaed the chipmaker as part of its investigation into whether the world’s hottest company unfairly wields its industry dominance.
Yesterday, Nvidia denied being technically subpoenaed. Bloomberg followed up to say that Nvidia was merely splitting hairs about the type of request it received from the DOJ but that it was, in fact, asked to answer questions about its empire.
The number of US job openings fell more than expected in July, new government data shows, in another worrying sign for the labor market.
Volvo scrapped its plan to make only electric vehicles by 2030, reflecting the slow demand for EVs.
Verizon is said to be in talks to buy Frontier Communications to bolster its fiber-optic cable network.
Australian breakdancer Raygun said she’s “very sorry for the backlash that the community has experienced” because of her much-mocked Paris Olympics performance.
U.S. Crude Oil Falls Below $70 per Barrel to Nine-Month Low Amid Uncertainty Over OPEC+ Production
U.S. crude oil fell more than 1% on Wednesday, tumbling...
U.S. crude oil fell more than 1% on Wednesday, tumbling below $70 per barrel and raising speculation that OPEC+ could delay production increases scheduled to begin next month.
The U.S. benchmark hit a session low of $68.83, the lowest level since Dec. 13, after plunging more than 4% on Tuesday. U.S. crude and global benchmark Brent have erased all gains for 2024.
“With demand growth uncertain and significant supply outages looking unlikely, all eyes are again on OPEC+,” Svetlana Tretyakova, senior analyst at Rystad Energy, said in a note Wednesday. “Until OPEC+ clarifies its strategy, overall bearishness will persist.”
Here are Wednesday’s closing energy prices:
West Texas Intermediate October contract: $69.20 per barrel, down $1.14, or 1.62%. Year to date, U.S. crude oil has fallen 3.4%.
Brent Crude November contract: $72.70 per barrel, down $1.05, or 1.42%. Year to date, the global benchmark has declined 5.6%.
RBOB Gasoline October contract: $1.96 per gallon, down more than 1 cents, or 0.8%. Year to date, gasoline has pulled back 6.7%.
Dow ekes out gain, S&P 500, Nasdaq fail to rebound after Tuesday's sharp selloff
U.S. stocks finished mostly lower on Wednesday,...
U.S. stocks finished mostly lower on Wednesday, with the S&P 500 and Nasdaq ending down for the fourth time in the past five sessions, as investors continued to focus on the prospect of an economic slowdown.
Based on preliminary data, the Dow Jones Industrial Average finished up 38.04 points, or less than 0.1%, at 40,974.97.
The S&P 500 closed down by 8.86 points, or almost 0.2%, at 5,520.07. Wednesday's level was the lowest since Aug. 14.
The Nasdaq Composite fell 52 points, or 0.3%, to finish at 17,084.30. Wednesday's level was the lowest since Aug. 12.
On Tuesday, all three indexes ended with their largest percentage declines since Aug. 5.
Chevron starts water injection project on Wilcox trend
Chevron has launched water...
Chevron has launched water injection projects at the Jack/St. Malo and Tahiti facilities in the deepwater Gulf of Mexico to increase oil and gas production. The project is Chevron's first use of the technology in the Wilcox trend and is expected to allow the firm to produce an additional 175 million barrels of oil equivalent from the field.
