Nasdaq posts record close as stocks log gains ahead of key inflation reading →
U.S. stocks finished higher on Tuesday, with the Nasdaq Composite notching...
U.S. stocks finished higher on Tuesday, with the Nasdaq Composite notching its seventh all-time closing high of 2024 as investors await the release of an April consumer-price index report that may shed more light on the Federal Reserve’s path for interest rates.
The Nasdaq Composite advanced 122.94 points, 0.8%, to end at a record 16,511.18, according to Dow Jones Market Data.
The S&P 500 rose 25.26 points, or 0.5%, to finish at 5,246.68, its highest close since late March. The large-cap index also ended within 0.2% of its all-time record close of 5254.35, hit on March 28.
The Dow Jones Industrial Average was up 126.60 points, or 0.3%, ending at 39,558.11.
Attention now turns to Wednesday's consumer-price index, set for release at 8:30 a.m. Eastern time.
Economists polled by Dow Jones anticipated the annual headline CPI rate for April will come in at 3.4%. Core CPI, which strips out volatile food and energy prices, is expected to slow to a 3.6% annual pace, from 3.8% in March.
From Twitter : Gasoline Prices to Drop Before Memorial Weekend.
Gasoline prices in the United States...
Gasoline prices in the United States are expected to see a slight drop of up to 10 cents per gallon by Memorial Day weekend, Patrick De Haan, head of petroleum analysis at GasBuddy, said on Tuesday.https://t.co/0TNDzJ5ykt
Demand for CME WTI crude grade futures hit fresh high
Demand for CME's WTI crude grade futures has hit a fresh high, recording...
Demand for CME's WTI crude grade futures has hit a fresh high, recording an average daily volume of 17,800 in April, a 54% increase from the same month last year. The group also reported a record daily open interest of 621,000 lots in the WTI crude grade contracts, up 45% from April 2023.
NextDecade's Rio Grande LNG export project in Texas is advancing as planned, with construction of Train...
NextDecade's Rio Grande LNG export project in Texas is advancing as planned, with construction of Train 1 underway and essential materials delivered to the site. The company is working to secure buyers for Train 4 capacity as it gears up for a final investment decision on the unit in the second half of the year.
Continental Resources takes on the EPA over methane rules
A challenge by Oklahoma City’s Continental Resources to the new Environmental...
A challenge by Oklahoma City’s Continental Resources to the new Environmental Protection Agency rule on methane standards for the oil and gas industry contends the EPA illegally expanded its authority beyond what is authorized.
Oklahoma and Texas joined Continental and 22 other states in taking on the giant agency used by the Biden administration to wage his war on fossil fuels. The oil company contends it’s an illegal move by the EPA and beyond what is authorized by the Clean Air Act.
According to Denver environmental attorney Paul Seby, who represents Continental Resources, the only industry representative to join the case, the first order of business is to obtain a ruling on a motion to stay enforcement of the rule pending resolution of the case.
EPA is setting up a “one-size-fits-all” standard that illegally supplants the standards set by the individual states, Seby said.
