Crude oil prices were mixed in Wednesday’s trading as benchmark US prices managed a slight increase...
Crude oil prices were mixed in Wednesday’s trading as benchmark US prices managed a slight increase while European prices fell.
US prices initially responded with an increase after the U.S. Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 15.
West Texas Intermediate crude for May delivery went up 19 cents to close at $102.75 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent crude for June delivery slipped 45 cents to finish at $106.80 a barrel on ICE Futures Europe.
May natural gas dropped 24 cents and closed at $6.95 per 1,000 cubic feet.
MarketWatch: Dow ends higher for second day; Nasdaq drops 1.2% as Netflix slides
Major U.S. stock indexes finished mostly lower on Wednesday, with the Nasdaq Composite...
Major U.S. stock indexes finished mostly lower on Wednesday, with the Nasdaq Composite pulled down by tumbling shares of Netflix NFLX, -35.12% a day after the streaming service reported a net loss of 200,000 paid subscribers in the first quarter. The Dow Jones Industrial Average DJIA, +0.71% gained about 250 points, or 0.7%, ending the second day in a row higher near 35,160. The S&P 500 index SPX, -0.06% shed 0.1%, while the Nasdaq COMP, -1.22% closed 1.2% lower. Investors remain focused on quarterly earnings season, looking for hints as to how big companies and consumers have been managing inflation at a 40-year high. San Francisco Federal Reserve president Mary Daly said Wednesday the central bank should act quickly to move its policy rate to neutral levels, or 2.5% according to most forecasts. The Fed's Beige Book report also showed expectations for inflation to continue running hot in the coming months.
U.S. existing-home sales fall for a second straight month as mortgage rates rise
Existing-home sales decreased 2.7% between February and March, dropping to a seasonally-adjusted, annual...
Existing-home sales decreased 2.7% between February and March, dropping to a seasonally-adjusted, annual rate of 5.77 million, the National Association of Realtors said Wednesday. Compared to a year ago, sales were down 4.5%. Economists polled by MarketWatch had projected existing-home sales to come in at 5.75 million.
MarketWatch: Stocks open higher as investors shake off Netflix results
Stocks opened higher Wednesday, building on the previous session's strong gains as investors shook off...
Stocks opened higher Wednesday, building on the previous session's strong gains as investors shook off disappointing results from streaming giant Netflix Inc. NFLX, -37.23%. The Dow Jones Industrial Average DJIA, 0.60% advanced 274 points, or 0.8%, while the S&P 500 SPX, -0.08% gained 0.6% and the tech-heavy Nasdaq Composite COMP, -1.05% ticked up 0.3%. Netflix shares tanked, falling 30% in early action after the company late Tuesday reported it lost a net 200,000 subscribers in the first quarter.
WTI and Brent crude oil futures are trading higher as...
WTI and Brent crude oil futures are trading higher as a drop in U.S. oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from yesterday’s losses. Oil production in Libya is continuing to slow down as the blockades on major fields and export terminals is causing Libya to lose more than 550,000 barrels per day in oil production, the National Oil Corporation media office said. Following the sanctions on Russia over their invasion of Ukraine, nine tankers carrying Russian-origin crude and fuel oil have discharged in the United States in April, likely the last ones to deliver before a wind-down set by Washington expires this week.
Natural gas futures rebounded this morning after yesterday’s sharp losses as concerns over future Russian gas supplies linger and amid high demand for LNG exports.
