French government poised to collapse over budget fight. French...
French government poised to collapse over budget fight. French Prime Minister Michel Barnier wanted to provide “stability” for the French people and quell “serious turbulence in the financial markets,” so he invoked a controversial section of French law to pass a social security budget bill without a vote. Barnier, a conservative, is facing the wrath of both the left-wing NLP party and Marine Le Pen’s right-wing National Rally party, which are expected to censure the prime minister and call for a no-confidence vote. Now, either the Barnier government will be sent packing, or the social security bill will be passed by the National Assembly and sent to the French Senate for approval.
Holiday catalogs are shrinking this year to save on postage and materials.
Stoli vodka filed for bankruptcy in the United States.
Apple employees filed a lawsuit accusing the tech company of surveilling them.
Jaguar revealed its all-electric concept car, the Type 00, during Miami Art Week.
President Biden is in Angola (a first for a sitting prez) to highlight US investments there.
Nasdaq, S&P 500 close at records as tech leads U.S. stocks higher
(Monday market close) The market "melt-up" stretched...
(Monday market close) The market "melt-up" stretched into the new month, sending two major indexes to fresh record highs led by surging tech stocks.
Mega caps wore their rally caps Monday as Apple (AAPL) recorded a new all-time peak and Tesla (TSLA) gains accelerated. Meta Platforms (META), Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN) also posted gains of 1% or more while semiconductors rode a wave of buying.
The rally in stocks was accompanied by climbing Treasury yields. But the rise in yields belied growing hopes of another Federal Reserve rate cut later this month. The futures market now sees about three in four chances of a 25-basis-point cut at the December 17–18 meeting, up from two in three late last week. The spike in odds might relate to what Fed speakers said today. Here's where the major benchmarks ended:
The S&P 500® index (SPX) rose 14.77 points (0.24%) to 6,047.15; the Dow Jones Industrial Average®($DJI) fell 128.65 points (–0.29%) to 44,782.00; and the Nasdaq Composite®($COMP) added 185.78 points (0.97%) to 19,403.95.
The 10-year Treasury note yield added two basis points to 4.20%.
Oil steady, traders hopeful on China demand but worried about Fed
(Reuters) -Oil prices were little changed on...
(Reuters) -Oil prices were little changed on Monday, as hopes of stronger demand stemming from higher factory activity in China was largely offset by concerns that the U.S. Federal Reserve will not cut interest rates again at its December meeting.
Brent crude futures settled 1 cent lower at $71.83 a barrel. U.S. West Texas Intermediate crude rose 10 cents, or 0.15%, to $68.10.
A private sector survey showed China's factory activity expanded in November at the fastest pace in five months, boosting Chinese business optimism just as U.S. President-elect Donald Trump has ramped up trade threats.
Meanwhile, a ceasefire between Israel and Lebanon, which took effect last Wednesday, appeared increasingly fragile. The Israeli military said on Monday it was currently striking "terror" targets in Lebanon amid mutual accusations of ceasefire violations between Israel and the Lebanese armed group Hezbollah.
The Pentagon said that despite some incidents, the ceasefire between Israel and Lebanese armed group Hezbollah was holding.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
Ring Energy Chairman and CEO Paul McKinney, put it aptly: “The best...
Ring Energy Chairman and CEO Paul McKinney, put it aptly: “The best place to find oil, oftentimes, is where you’ve already found it.”
Oil is easy to find, but assets are expensive to buy in the locked-up core of the Permian Basin. The breakneck pace of consolidation in the past two years has placed the highest-quality acreage in the hands of the majors and a few massive E&Ps. Tier 1 Permian locations are expensive to buy through M&A and even more difficult to discover organically.
However, the far edges of the Permian—the Central Basin Platform (CBP), the Northwest Shelf, and the Eastern Shelf—remain accessible to independent producers pushing the play’s boundaries and testing relatively unpopular zones.
Scout Taps Trades, Farm-Outs, M&A for Uinta Basin Growth
Despite increased M&A activity around its Uinta Basin position,...
Despite increased M&A activity around its Uinta Basin position, Scout Energy Partners aims to penetrate Utah’s emerging oil play more deeply.
“We think there’s potential to grow still,” said Juan Nevarez, Scout’s executive vice president, during Hart Energy’s Executive Oil Conference & Expo in Midland, Texas.
Dallas-based Scout is heaviest in the Hugoton Field, which spans across the Texas and Oklahoma panhandles into southwestern Kansas. But the company expanded into the Uinta in mid-2022 by acquiring a property from Ovintiv.
