Stocks end higher as S&P 500 posts big weekly rally ahead of Trump inauguration
U.S. stocks ended up Friday, the last day of trading...
U.S. stocks ended up Friday, the last day of trading under U.S. President Joe Biden, as investors headed into a three-day weekend that will see Donald Trump inaugurated Monday.
The Dow Jones Industrial Average rose 334.70 points, or 0.8%, to close at 43,487.83.
The S&P 500 rose 59.32 points, or a sharp 1%, to finish at 5,996.66.
The Nasdaq Composite rallied 291.91 points, or 1.5%, to end at 19,630.20.
For the week, all three indexes booked gains as investors appeared relieved by a retreat in Treasury yields. The Dow booked a 3.7% weekly gain, while S&P 500 climbed 2.9% and the technology-heavy Nasdaq advanced 2.4%, according to Dow Jones Market Data. The Dow and S&P 500 each had their best week since early November, when Trump’s victory in the U.S. election sparked a strong rally.
In the bond market, the yield on the 10-year Treasury note fell 16.1 basis points this week to 4.610%, according to Dow Jones Market Data. The U.S. stock and bond markets will be closed Mondayin honor of Martin Luther King Jr. Day.
Talos Energy has discovered "commercial quantities" of oil and natural...
Talos Energy has discovered "commercial quantities" of oil and natural gas reserves at its Katmai West No. 2 well in the Gulf of Mexico. The well, drilled with the Seadrill West Vela drillship, is expected to yield 15,000 to 20,000 barrels of oil equivalent per day. Talos plans to complete the well in the second quarter, following casing and suspension by late January.
A New York Supreme Court judge has dismissed a lawsuit brought by New...
A New York Supreme Court judge has dismissed a lawsuit brought by New York City against ExxonMobil, BP, Shell and the American Petroleum Institute, alleging the companies misled the public about their environmental impact and commitment to renewable energy. The judge found no evidence of greenwashing and ruled that the city's claims were contradictory. "At some point, our hope is that political figures around the country come to understand that ideological hatred for us doesn't mean we did anything wrong," oil major Exxon said.
Trump’s Treasury secretary pick backs tariffs, tax cuts, and Russia sanctions
Scott Bessent, the hedge fund billionaire President-elect Donald Trump...
Scott Bessent, the hedge fund billionaire President-elect Donald Trump tapped to lead the Treasury Department, was the latest nominee to be grilled at a Senate confirmation hearing. Telling lawmakers that Trump could usher in a “new economic golden age,” Bessent said tariffs could be a “revenue raiser” for the government while pushing for an extension of the 2017 tax cuts. He also called for more sanctions on Russian oil producers to bring Vladimir Putin to the negotiating table with Ukraine.
Legendary baseball announcer Bob Uecker dies at 90. Fondly...
Legendary baseball announcer Bob Uecker dies at 90. Fondly known as “Mr. Baseball,” Uecker was the voice of the Milwaukee Brewers since 1971. The Brewers released a statement from the family that said Uecker had been privately fighting small-cell lung cancer since 2023. He became a national icon thanks to his charming appearances on late-night shows, a recurring spot in Miller Lite commercials, and his role as announcer Harry Doyle in the 1989 baseball classic Major League. In 2003, he received the Ford C. Frick Award from the Baseball Hall of Fame, which is given annually to a broadcaster for “major contributions to baseball.
Israel’s cabinet is expected to vote today or tomorrow on the Gaza ceasefire deal the country’s negotiators agreed to with Hamas, which US officials said would begin Sunday as planned despite the delayed vote.
American Express will pay $230 million to settle DOJ wire fraud claims and allegations it deceptively marketed credit cards to small businesses.
Cancer rates for women in the US have gone up, even as rates for men have gone down. Young women are now twice as likely to be diagnosed with cancer as young men.
Blue Origin’s massive New Glenn rocket made it to orbit, giving Jeff Bezos a win as his space company works to catch up to Elon Musk’s SpaceX. Meanwhile, SpaceX launched its seventh Starship test, and the ship exploded, disrupting airplanes with its debris.
Justin Baldoni sued Blake Lively and Ryan Reynolds for $400 million in the latest in the back-and-forth legal drama over the on-screen drama It Ends With Us.
Conan O’Brien will receive the Mark Twain Prize for Comedy, and nobody can take it away and try to give it to him in a different timeslot.
