Dow rises to record high as stocks book weekly gains after Fed rate cut
The Dow Jones Industrial Average closed modestly higher...
The Dow Jones Industrial Average closed modestly higher Friday to notch a fresh record high, as major U.S. stock benchmarks booked weekly gains in the wake of the Federal Reserve’s large interest-rate cut on Wednesday.
The Dow Jonesrose 38.17 points,or 0.1%, to close at 42,063.36.
The S&P 500slipped 11.09 points, or 0.2%, to finish at 5,702.55.
The Nasdaq Compositefell 65.66 points, or 0.4%, to end at 17,948.32.
For the week, the Dow rose 1.6%, the S&P 500 climbed 1.4% and the technology-heavy Nasdaq advanced 1.5%. All three benchmarks logged back-to-back weekly gains and are now up in September.
The Dow has a monthly gain of 1.2%, while the S&P 500 has risen 1% so far this month, and the Nasdaq has climbed by 1.3% this month to date.
EQT CEO: LNG demand could drive gas output recovery
Natural gas prices will stay below $3 per million British thermal unit...
Natural gas prices will stay below $3 per million British thermal unit in the near term, but rising demand could prompt producers to restore output next year, EQT CEO Toby Rice predicted at the Gastech conference. Highlighting the importance of gas for LNG exports and power generation, Rice emphasized that market forces, not politics, should decide the energy mix.
Vitol sees Asia leading demand for new US LNG supply
The wave of new US liquefied natural gas supply set to hit markets by...
The wave of new US liquefied natural gas supply set to hit markets by 2028 will likely flow primarily to Asia rather than Europe, Vitol CEO Russell Hardy predicted. New applications in shipping and transportation will fuel LNG demand growth, particularly in China and India, where LNG-powered trucks are rapidly gaining market share.
Israel and Hezbollah trade strikes as the possibility of a wider war increases
Shortly after 37 people in Lebanon were killed and thousands of others...
Shortly after 37 people in Lebanon were killed and thousands of others injured by exploding pagers and walkie-talkies in attacks attributed to Israel, Hezbollah leader Hassan Nasrallah vowed retribution and said the aggression amounted to a “declaration of war.” While Nasrallah spoke, two sonic booms echoed across Beirut in an apparent show of force by Israel. Nasrallah said that Hezbollah, which has repeatedly fired rockets into northern Israel in support of Hamas, will continue attacking until the war in Gaza ends. Experts are worried that the escalating exchanges of rockets and gunfire between Israel and Hezbollah could pull in their respective allies, the US and Iran.
Overdose deaths in the US are plummeting. According...
Overdose deaths in the US are plummeting. According to new public health data, drug-related deaths fell more than 10% in the 12 months ending in April, a massive improvement from double-digit increases seen in recent years, NPR reported. Researchers say that in states with rapid data collection systems, the declines might be even steeper, up to 30%. They attribute the turnaround to the prevalence of naloxone, which can reverse opioid overdoses, as well as other advancements in treatments for fentanyl addiction. There are still 100,000 drug deaths in the US each year.
Nike CEO John Donahoe will retire on Oct. 13 and be replaced by longtime executive Elliott Hill, the company announced yesterday. Here’s how the troubled sneaker giant got to this point.
Amazon is launching a Shark Tank-style entrepreneur competition show with a panel of celebrity judges, including Goop’s very own Gwyneth Paltrow.
JetBlue will open its first airport lounges (in Boston and NYC) alongside a new “premium” credit card in an effort to attract big spenders to the low-cost airline.
Tucker Carlson plans to start his own brand of nicotine pouches to compete with Zyn, which the former Fox News personality claimed is for women and liberals, the WSJ reported.
Mohamed Al Fayed, the late Egyptian billionaire and former owner of Harrods, was accused of rape by five women, according to a new documentary.
