U.S. stocks finish lower as S&P 500 snaps 6-day winning streak
U.S. stocks finished modestly lower in quiet trading...
U.S. stocks finished modestly lower in quiet trading on Tuesday as investors digested corporate earnings and developments on President Donald Trump's tax bill.
The Dow Jones Industrial Average lost over 100 points, or 0.3%, to end near 42,677, according to preliminary data from FactSet.
The S&P 500 was off 0.4%, to finish around 5,940.
The Nasdaq Composite slid 0.4%, ending near 19,142
U.S. shale output nears peak amid stagnant oil prices
Economic uncertainty and suppressed crude prices are causing forecasters...
Economic uncertainty and suppressed crude prices are causing forecasters and major energy firms to anticipate an earlier plateau or even decline in US oil output. This trend is evident in most shale regions, though the Permian Basin still shows some potential for increased drilling activity.
U.S. targets LNG exports despite tariffs, other challenges
US energy firms are poised...
US energy firms are poised to approve new liquefied natural gas export capacity of more than 99 million short tons this year, significantly boosting the nation's status as a leading global supplier. This planned expansion proceeds despite potential financial pressures from trade tariffs and increasing construction expenses.
Trump says Ukraine and Russia will talk ceasefire after his call with Putin
President Trump spoke on the phone with Russian President Vladimir...
President Trump spoke on the phone with Russian President Vladimir Putin for two hours yesterday, and while Trump called the conversation “excellent,” it didn’t yield a ceasefire between Russia and Ukraine. Trump said that Russia would “immediately” start ceasefire talks with Ukraine, but it was unclear whether the US would continue to be involved in those discussions. “The conditions for that will be negotiated between the two parties, as it can only be, because they know the details of a negotiation that nobody else would be aware of,” Trump posted on Truth Social.
Supreme Court lets Trump admin end deportation protections for...
Supreme Court lets Trump admin end deportation protections for Venezuelans. The high court ruled that the Trump administration could revoke the temporary deportation protections that were put in place toward the end of President Biden’s term for 350,000 Venezuelans. A federal judge had blocked the government from doing so while a lawsuit challenging the removal of the protections plays out, but the Supreme Court overturned that, potentially allowing deportations while the case progresses. As is typical for rulings on emergency applications, the justices did not explain their reasoning, though Justice Ketanji Brown Jackson said she would have denied the government’s request to remove the protections.
JPMorgan CEO Jamie Dimon cautioned yesterday that investors aren’t worried enough about the risks created by the US deficit, tariffs, and geopolitical tensions.
China accused the US of undermining trade talks by warning that using Huawei’s AI chips anywhere in the world ran afoul of US export controls. It urged the US to “correct its mistakes.”
Federal prosecutors charged Rep. LaMonica McIver, a Democrat from New Jersey, with assaulting an immigration officer during a chaotic protest at an ICE detention facility that also led to the arrest of the mayor of Newark. The charges against the mayor have been dropped. McIver called the charges against her “purely political.”
The UK and the EU signed new trade and defense agreements five years after Brexit.
Warren Buffett—who announced plans to step down as CEO at Berkshire Hathaway’s annual shareholder meeting this year—said he won’t speak at next year’s event, leaving “Woodstock for Capitalists” without its Jimi Hendrix.
