Stock-market futures point to third straight day of Wall Street gains
U.S. stock index futures were pointing Friday to the third day of gains, as investors bet that tough...
U.S. stock index futures were pointing Friday to the third day of gains, as investors bet that tough talk from Federal Reserve officials now won’t prevent a pivot down the road.
What’s happening
Futures on the Dow Jones Industrial Average YM00, 0.70% rose 228 points, or 0.7%, to 32089.
Futures on the S&P 500 ES00, 0.77% gained 30.5 points, or 0.8%, to 4036.
Futures on the Nasdaq 100 NQ00, 0.98% increased 118.25 points, or 1%, to 12516.
On Thursday, the Dow Jones Industrial Average DJIA, +0.61% rose 193 points, or 0.61%, to 31775, the S&P 500 SPX, +0.66% increased 26 points, or 0.66%, to 4006, and the Nasdaq Composite COMP, +0.60% gained 70 points, or 0.6%, to 11862.
U.S. stocks close higher as investors weigh Powell’s comments on more rate hikes
U.S. stocks finished higher on Thursday, notching their first back-to-back gains since Aug. 25 after...
U.S. stocks finished higher on Thursday, notching their first back-to-back gains since Aug. 25 after a volatile session that saw the Dow Jones Industrial Average swing more than 460 points from peak to trough. Stocks seemed to shrug off hawkish commentary from Federal Reserve Chairman Jerome Powell, along with the European Central Bank's largest interest-rate hike since the early days of the euro. Some market strategists said the rebound was the result of stocks falling into 'oversold' territory. The S&P 500 SPX, 0.66% climbed 26.31 points, or 0.7%, to 4,006.18, while the Dow Jones Industrial Average DJIA, 0.61% finished 193.24 points, or 0.6%, higher at 31,774.52. The Nasdaq Composite COMP, 0.60% advanced 70.23 points, or 0.6%, to 11,862.13.
U.S. gasoline prices to keep falling as refiners keep making other products
Wholesale gasoline prices are expected to keep falling in the...
Wholesale gasoline prices are expected to keep falling in the coming months as U.S. refiners overproduce fuel to try to rebuild low stocks of diesel and heating oil, according to analysts and traders.
U.S. inventories of distillate products, which also include jet fuel, are at the lowest levels in more than a decade. Margins to make those products have remained high due to heavy demand from Europe and elsewhere, and a dearth of refining capacity to meet that demand.
Gasoline demand has also been high but is waning now that the U.S. driving season is coming to a close. U.S. independent refiners indicated earlier this year that they would continue to run at high rates even if gasoline demand dropped in order to replenish low middle distillate inventories.
Oil futures finish higher on 'oversold' condition, despite a hefty weekly rise in U.S. supplies
Oil futures ended...
Oil futures ended higher on Thursday, with prices "near-term oversold," following Wednesday's "multi percentage-point drop to multi-month lows," said Tyler Richey, co-editor at Sevens Report Research. Gains for oil came despite a report from the Energy Information Administration that showed an 8.8 million-barrel weekly rise in U.S. crude inventories. October WTI crude CLV22, 1.59% climbed $1.60, or nearly 2%, to settle at $83.54 a barrel on the New York Mercantile Exchange, following a 5.7% drop on Wednesday.
EIA reports a weekly climb of 54 billion cubic feet in U.S. natural-gas supplies
The U.S. Energy...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 54 billion cubic feet for the week ended Sept. 2. That was generally in line with an average forecast for an increase of 55 billion cubic feet from analysts polled by S&P Global Commodity Insights. Total working gas stocks in storage stand at 2.694 trillion cubic feet, down 222 billion cubic feet from a year ago and 349 billion cubic feet below the five-year average, the government said. Following the data, October natural gas NGV22,was up 12.6 cents, or 1.6%, at $7.968 per million British thermal units. Prices traded at $7.981 before the supply data.
