Dow, S&P 500 and Nasdaq all close at record highs as inflation data boost stocks
All three major U.S. stock indexes finished at their highest-ever levels...
All three major U.S. stock indexes finished at their highest-ever levels on Wednesday, fueled by signs of slowing inflation on a monthly basis in April's consumer price index.
It was the first time since March 21 that all three indexes reached record closing highs on the same day.
The Dow Jonesfinished up by 349.89 points, or 0.9%, at 39,908. It surpassed its prior record closing high of 39,807.37, reached on March 28.
The S&P 500closed up by 61.47 points, or 1.2%, at 5,308,15. It finished above its prior record closing high of 5,254.35, also reached on March 28.
The Nasdaq Compositeended up by 231.21 points, or 1.4%, at 16,742.39 — above its prior record closing high of 16,511.18, which was hit on Tuesday.
“The April inflation reading is the first good data point for the Fed this year," said Mace McCain, chief investment officer at Frost Investment Advisors, which manages $5.1 billion in assets from San Antonio, Texas.
U.S. consumer prices rose 3.4 percent in the year through April, a slight downtick in the inflation rate.
A closely watched measure of inflation eased last month, an encouraging sign for the...
A closely watched measure of inflation eased last month, an encouraging sign for the economy after three consecutive months of uncomfortably rapid price increases.
The Consumer Price Index climbed 3.4 percent in April, down from 3.5 percent in March, the Labor Department said Wednesday. The “core” index — which strips out volatile food and fuel prices in order to give a sense of the underlying trend — rose 3.6 percent last month, down from 3.8 percent a month earlier. It was the lowest annual increase in core inflation since early 2021.
N.M.'s wastewater reuse plan off to a contentious start
The New Mexico Water Quality Control Commission on Monday held the first...
The New Mexico Water Quality Control Commission on Monday held the first of a series of hearings to discuss and consider arguments surrounding its proposal for regulations governing the treatment and reuse of oil and gas wastewater. The proposal has sparked protests and drawn criticism from both environmental groups and oil industry representatives.
NEWS Solar flares continue to erupt this week after historic weekend
Solar flares classified as X, the strongest, continue to erupt this week. The strong solar activity is...
Solar flares classified as X, the strongest, continue to erupt this week. The strong solar activity is similar to how the first of last week started. This led to a week of massive solar flares and geomagnetic storms, ending with a weekend of celestial awe when the northern lights could be viewed as far south as Texas.
According to NASA, the latest X solar flare was at 12:51 p.m. ET on Tuesday, May 14, and one earlier at 8:55 a.m.. Tuesday's two X-classified solar flares followed Monday's peak eruption at 10:55 p.m.
Ahead of the upcoming completion of its $4 billion acquisition of Enerplus,...
Ahead of the upcoming completion of its $4 billion acquisition of Enerplus, Chord Energy is optimizing its three-mile lateral drilling operations in the Williston Basin and gearing up to expand into four-mile laterals later this year. Chord President and CEO Danny Brown expressed confidence in the technical feasibility of four-mile laterals, though he acknowledged potential challenges with coil tubing cleanout in such lengthy laterals.
