This is a make-or-break week for the stock market.
The strong rally so far this year is ...
The strong rally so far this year is about to contend with some highly important technical indicators, Fed moves, and key earnings from mega-cap tech.
On Wednesday, Fed Chair Jerome Powell is expected to hike interest rates by 25 basis points, which could rattle markets.
Not only that, but a slate of mega-cap earnings from Apple, Amazon, and Alphabet are also due later this week. Any negative surprises could derail the January rally and negate much of the recent recovery from 2022's vicious bear market.
Chevron Corp.’s Venezuelan oil production has increased by about 80% since November...
Chevron Corp.’s Venezuelan oil production has increased by about 80% since November when Washington gave the go-ahead to re-engage in production operations in the OPEC country.
The California-based oil giant has seen production rise at its four joint ventures (JV) in Venezuela despite the poor state of the country’s infrastructure, Chevron Chairman and CEO Mike Wirth said Jan. 27 during the company’s quarterly webcast.
“They’re producing about 90,000 barrels a day now, which is up about 40,000 barrels a day since we saw the change in these license terms,” Wirth said. Prior to U.S. sanctions levied on Venezuela in early 2019, the JVs produced an average 200,000 bbl/d, according to Chevron data.
Benchmark U.S. crude oil for March delivery fell $1.78 to $77.90 a barrel Monday. Brent crude for March delivery fell $1.76 to $84.90 a barrel.
Wholesale gasoline for February delivery fell 9 cents to $2.50 a gallon. February heating oilfell 16 cents $3.11 a gallon. March natural gas fell 17 cents to $2.68 per 1,000 cubic feet.
Dow snaps win streak, Nasdaq ends down 2% as Fed rate decision looms
U.S. stocks ended lower Monday, with the Dow Jones Industrial...
U.S. stocks ended lower Monday, with the Dow Jones Industrial Average snapping a six-day win streak, as investors brace for the outcome of the Federal Reserve's two-day policy meeting in a busy week for company earnings reports. The Dow DJIA, -0.77% closed 0.8% lower, while the S&P 500 SPX, -1.30% fell 1.3% and the technology-laden Nasdaq Composite COMP, -1.96% dropped 2%, according to preliminary data from FactSet. The central bank's meeting wraps up Wednesday, with Fed Chair Jerome Powell scheduled to host a press conference on its interest-rate decision that same day. Energy was the S&P 500's worst-performing sector on Monday, followed by information technology.
