U.S. stocks end down as S&P 500 books worst week since March 2023
Major U.S. stock indexes closed lower Friday after the...
Major U.S. stock indexes closed lower Friday after the August jobs report rattled markets, with the S&P 500 booking its biggest weekly drop in about a year and a half.
The Dow Jones Industrial Average fell 410.34 points, or 1%, to close at 40,345.41.
The S&P 500dropped 94.99 points, or 1.7%, to finish at 5,408.42.
The Nasdaq Composite slumped 436.83 points, or 2.6%, to end at 16,690.83.
Unemployment Rate Falls to 4.2% as U.S. Economy Adds 142,000 Jobs
Employers added an estimated 142,000 jobs last month, marking stronger...
Employers added an estimated 142,000 jobs last month, marking stronger growth than July's worrisome low number that was revised down by 25,000 to 89,000, according to data released Friday by the Bureau of Labor Statistics. The unemployment rate dropped to 4.2% from 4.3%.
Mach Units Fall 12% After Announcing Offering to Finance M&A Deals
MLP Mach Natural Resources (MNR)...
MLP Mach Natural Resources (MNR) units fell after the company announced plans to sell more shares to finance $136 million in Midcontinent M&A.
Oklahoma City-based E&P Mach unveiled plans this week to sell 7.85 million common units to finance two pending acquisitions in Oklahoma and Kansas.
Investors reacted by sending Mach's unit price down by 12.5% since the offering was first announced on Sept. 4. MNR units fell more than 4% to close at $16.71 on Sept. 5.
Addressing corporate leaders in New York yesterday, Trump said he will:...
Addressing corporate leaders in New York yesterday, Trump said he will:
Cut the corporate tax rate to 15% from 21% for companies that keep their production in America. The current rate expires after next year and has been in place since Trump slashed it from 35% as part of his 2017 tax plan.
Impose tariffs on all $3 trillion worth of goods imported to the US each year—60% on products from China and 10% for every other country—which Trump suggested could create a sovereign wealth fund.
Declare a national emergency on energy to fast-track more oil and gas projects and lower fuel costs.
France named a new prime minister, a former Brexit negotiator, ending two months of a political stalemate that left the country without a government.
Allan Lichtman, the controversial historian who has accurately predicted nine out of the last 10 presidential elections, picked Kamala Harris to win in November.
Ford sales increased 13.4% last month, bolstered by strong demand for SUVs and pickup trucks.
Alex Morgan, the GOAT of women’s soccer, announced she’ll retire at the end of the NWSL season.
Trump Media has lost 75% of its market value since the company went public in March, costing Trump himself billions in net worth.
Hunter Biden pleaded guilty to nine federal tax charges, avoiding a trial. His sentencing is scheduled for December.
U.S. crude oil near $69 per barrel as OPEC+ delays production boost
U.S. crude oil pulled back slightly Thursday to close near $69 per barrel, as OPEC+ delays plans to boost...
U.S. crude oil pulled back slightly Thursday to close near $69 per barrel, as OPEC+ delays plans to boost production after futures sold off steeply this week.
OPEC+ members have delayed a production hike of 180,000 barrels per day by two months, two sources told CNBC. The production increase was originally scheduled for October.
“There’s several factors that are really working against OPEC over the next few months,” Andy Lipow, president of Lipow Oil Associates, told CNBC’s “Street Signs” on Thursday.
“They want to see Brent crude oil prices at $85 to $90 per barrel to balance their budgets,” Lipow said.
Here are Thursday’s energy prices:
West Texas Intermediate October contract: $69.15 per barrel, down 5 cents. Year to date, the U.S. benchmark has fallen 3.5%.
Brent November contract: $72.69 per barrel, down 1 cent. Year to date, the global benchmark has pulled back 5.7%.
RBOB Gasoline October contract: $1.92 per gallon, down more than 3 cents, or 1.8%. Year to date, gasoline has declined 8.4%.
Natural Gas October contract: $2.25 per thousand cubic feet, up 10 cents, or 5%. Year to date, gas has tumbled 10.3%.
