Dow falls over 400 points after June CPI, but chip stocks power Nasdaq to record
U.S. stocks finished mostly lower on Tuesday after consumer...
U.S. stocks finished mostly lower on Tuesday after consumer prices in June posted the biggest increase seen since earlier this year, potentially preventing the Federal Reserve from cutting interest rates later this month.
But Wall Street saw a tale of two markets on Tuesday, as a rally in shares of semiconductor names propelled the tech-heavy Nasdaq Composite to a fresh all-time closing high.
The Nasdaq Composite ended up 0.2% at near 20,677, according to preliminary data from FactSet.
The S&P 500 was off 0.4% to end at around 6,243.
The Dow Jones Industrial Average fell by more than 400 points, or nearly 1%, ending near 44,023.
EPA: Congress killed Greenhouse Gas Reduction Fund
The Justice Department and Environmental Protection Agency have notified...
The Justice Department and Environmental Protection Agency have notified the US Courts of Appeals for the D.C. District that groups can no longer sue over the cancellation of the Greenhouse Gas Reduction Fund. They assert that the One Big Beautiful Bill Act eliminates the basis for related lawsuits. It also rescinds all unobligated funding for the program, says the EPA.
Chevron blames offshore well start for Mars contamination
Chevron has traced zinc contamination in the Mars crude oil stream to...
Chevron has traced zinc contamination in the Mars crude oil stream to the startup of an offshore well. ExxonMobil has halted Mars crude purchases until the issue is resolved and secured 1 million barrels from the Strategic Petroleum Reserve to support operations at its Baton Rouge, La., refinery. Chevron is working to address the contamination and does not expect any impact on its production guidance.
Trump threatens 100% tariffs over Ukraine war, makes arms deal with NATO.
President Trump ...
President Trump said yesterday that he would impose a 100% “secondary tariff” on Russia’s trading partners if Moscow doesn’t make a deal to end its invasion of Ukraine within 50 days. The president also announced an agreement for US companies to sell “billions of dollars worth of military equipment” to European countries that will send them to Ukraine. He expressed disappointment in President Vladimir Putin for not reaching a peace deal sooner, reflecting a recent shift in Trump’s attitude toward the Russian leader.
Pow’s building reno is getting a lot of attention. Federal...
Pow’s building reno is getting a lot of attention. Federal Reserve Chair Jerome Powell asked the central bank’s inspector general to review a $2.5 billion building renovation project after its budget overruns prompted severe criticism from the White House. The request came after National Economic Council Director Kevin Hassett told ABC on Sunday that the president could fire Powell “if there’s cause.” With President Trump having previously expressed a desire to axe Powell for not lowering interest rates, many Fed watchers see the building project as a potential cause the White House could use to get rid of Powell before his term ends and install someone new.
Andrew Cuomo is staying in the race to be NYC’s mayor, with the former governor going independent after losing the Democratic primary to Zohran Mamdani. Current Mayor Eric Adams also plans to run as an independent.
The EU is delaying retaliatory tariffs on the US to help get a trade deal in place by Aug. 1, when President Trump said a 30% tariff would kick in.
A fire at an assisted living facility in Fall River, MA, on Sunday killed nine people and left dozens hospitalized.
Starbucks called its corporate workers back to the office four days per week.
Tesla is facing its first jury trial over a crash involving a car using its autopilot feature. And potential jurors have a lot of thoughts about Elon Musk.
