MarketWatch: Dow closes above 40K for first time ever, S&P 500 books 4th straight weekly gain
U.S. stocks ended mostly higher Friday, with the Dow Jones Industrial...
U.S. stocks ended mostly higher Friday, with the Dow Jones Industrial Average’s modest gains taking the blue-chip gauge to a finish above 40,000 for the first time ever.
The Dowgained 134.21 points, or 0.3%, to close at 40,003.59, clinching a fresh record peak.
The S&P 500rose 6.17 points, or 0.1%, to end at 5,303.27.
The Nasdaq Compositeslipped 12.35 points,or 0.1%, to finish at 16,685.97.
All three major indexes logged weekly gains as investors appeared encouraged by signs that U.S. inflation eased in April based on a May 15 reading from the consumer-price index. For the week, the Dow climbed 1.2%, the S&P 500 advanced 1.5% and the technology-heavy Nasdaq rose 2.1%.
The S&P 500 and Nasdaq each increased for a fourth straight week, while the Dow notched a fifth straight week of gains. All three benchmarks scored their longest weekly winning streaks since the stretch ending Feb. 9, according to Dow Jones Market Data.
Cheniere nears operations at Corpus Christi Stage 3
Cheniere Energy is advancing construction on its Corpus Christi Stage...
Cheniere Energy is advancing construction on its Corpus Christi Stage 3 project, aiming for the first liquefied natural gas shipment by the end of the year and full operation of all seven trains by 2026. Additionally, the company is working toward regulatory approvals for midscale trains eight and nine at Corpus Christi, with plans to reach final investment decisions on them in 2025.
LM Energy to boost Delaware Basin gas gathering capacity
LM Energy has begun work...
LM Energy has begun work on a project to expand the capacity of its northern Delaware Basin natural gas gathering system by around 500,000 MMcf/d after securing commitments from multiple producers. The project, which involves new compressor stations and roughly 70 miles of new pipelines, is slated for completion between the second half of 2024 and the first half of 2025.
ConocoPhillips' diversified Lower 48 portfolio ensures steady production and cash flow increases, while the Permian Basin will remain the primary driver of production growth, said Conoco Vice President of Midland Basin Nick McKenna during the SUPER DUG Conference & Expo in Fort Worth, Texas. McKenna cited increased use of recycled water in Permian operations and an 80% reduction in associated gas flaring among major achievements ConocoPhillips has made in recent years.
One-hundred-and-twenty-eight-years-old and still doing new tricks:...
One-hundred-and-twenty-eight-years-old and still doing new tricks: America’s oldest popular stock index, the Dow Jones Industrial Average, hit a record high yesterday morning when it traded above 40,000, reflecting renewed hope for the market’s health after Wednesday’s promising inflation report.
What a rally: Despite fears of a recession that still hasn’t happened, the Dow has risen 40% from its post-pandemic low in September 2022 and is up ~6% this year.
Out of the 30 blue chip stocks included in the Dow, Goldman Sachs added the most points (a weighted measure of stock value) to the index since it crossed 30k in November 2020, while 3M subtracted the most points.
