MarketWatch: Dow finishes up 600 points as oil extends pullback from 14-year highs
Stocks ended sharply higher Tuesday as oil prices continued to pull back from 14-year highs. The Dow...
Stocks ended sharply higher Tuesday as oil prices continued to pull back from 14-year highs. The Dow Jones Industrial Average DJIA, +1.82% jumped around 599 points, or 1.8%, to close near 33,544, according to prelminary figures, while the S&P 500 SPX, +2.14% advanced around 89 points, or 2.1%, finishing near 4,262. the Nasdaq Composite COMP, 2.92% rose around 367 points, or 2.9%, to end near 12,948.62. Crude prices, which saw the U.S. benchmark soar to a 14-year high near $130 a barrel last week as investors reacted to Russia's invasion of Ukraine and the resulting sanctions against Moscow, have pulled back sharply. Front-month Nymex crude for April delivery CL.1, -7.89% lost $6.57 per barrel, or 6.4% to close at $96.44 a barrel. Investors continued to monitor developments in the Russia-Ukraine war and prepared for the two-day Federal Reserve policy meeting that's expected to conclude with an increase Wednesday with a rise in benchmark interest rates for the first time since 2018.
Investors make record weekly cuts to bullish oil bets
Investors made the biggest cut on record to their bullish Brent crude oil bets during the week ending...
Investors made the biggest cut on record to their bullish Brent crude oil bets during the week ending March 8, selling the equivalent of 142 million barrels in the six top petroleum-related futures and options contracts. The range of pricing for the week was the biggest since the launch of oil futures in the late 1980s, and the reduction in bullish bets was the biggest since 2018.
Natural gas futures extended yesterday’s declines into this morning session ($4.48, down 17...
Natural gas futures extended yesterday’s declines into this morning session ($4.48, down 17 cents), falling amid a pickup in output and new milder forecasts for the weather to turn milder than normal for this time of year. The price declines came even though global gas prices continued to trade around eight times over U.S. futures, keeping demand for U.S. LNG exports at a record high.
U.S. stock futures rise after PPI reading, economic data
U.S. stock index futures rose Tuesday, finding support after a smaller-than-expected...
U.S. stock index futures rose Tuesday, finding support after a smaller-than-expected rise in a measure of wholesale inflation and a weak reading on factory activity in the New York region.
Investors continued to monitor developments in the Russia-Ukraine war and prepared for the kickoff of a two-day Federal Reserve policy meeting that’s fully expected to conclude with a benchmark interest rate increase and will be closely watched for clues to further monetary tightening.
Futures on the Dow Jones Industrial AverageYM00, 0.96% rose 135 points, or 0.4%, to 32,973.
S&P 500 futures ES00, 1.06% were up 21.25 points, or 0.5%, to 4,184.75.
Nasdaq-100 futures NQ00, 0.98% gained 103 points, or 0.8%, to 13,147.
The number of drilled but uncompleted oil wells in the U.S. fell again in March according...
The number of drilled but uncompleted oil wells in the U.S. fell again in March according to new information released Monday by the Department of Energy.
The total of DUCs in January was 4,528 and fell to 4,372 or a decline of 156 by February.
In the Anadarko Basin, the number of DUC wells fell from 758 in January 2022 to 748 in February.
