S&P 500 closes over 5,000 for new record high, books 5th straight week of gains
U.S. stocks closed mostly higher on Friday, with the S&P...
U.S. stocks closed mostly higher on Friday, with the S&P 500 scoring its 10th record close of 2024 as the index booked a fifth straight week of gains.
The S&P 500 ended 0.6% higher at 5,026.61.
The Nasdaq Composite gained 1.2% to 15,990.66
The Dow Jones Industrial Average slipped 0.1% to 38,671.69.
The S&P 500, Nasdaq, and Dow each rose for a fifth consecutive week in their longest winning streaks since December, according to Dow Jones Market Data.
For the week, the Dow eked out a gain of less than 0.1%, while the S&P 500 climbed 1.4% and the Nasdaq advanced 2.3%.
Permian growth in 2024 expected to drop significantly
Growth in the Permian Basin is expected to slow in 2024 following the purchase by public companies of...
Growth in the Permian Basin is expected to slow in 2024 following the purchase by public companies of nearly 40 private companies last year. The Energy Department recently dropped its 2024 growth forecast by 120,000 bpd to 170,000 bpd, down from over 1 million bpd last year. "It all ties down to the industry being less interested in growth and more in generating positive cash flows, which they have now done successfully for a few years," said Alexandre Ramos-Peon, head of shale research at Rystad.
DOE says LNG permit pause will be "months, not years"
Department of Energy Deputy Secretary David Turk told the Senate Energy...
Department of Energy Deputy Secretary David Turk told the Senate Energy and Natural Resource Committee on Thursday that the halt on liquified natural gas export approvals will be for "months, not years." Attorneys general from 26 states are preparing a legal case to reverse the pause, saying the White House overstepped its authority in implementing the measure.
ConocoPhillips reports slight fall in profits in 4Q and full-year earnings
ConocoPhillips reported fourth-quarter 2023 earnings of $3.0 billion,...
ConocoPhillips reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share.
Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9 billion, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4 billion, or $2.71 per share. Special items for the current quarter were comprised of a benefit related to the reversal of a tax reserve, partially offset by a loss on foreign exchange contracts.
Full-year 2023 earnings were $11.0 billion, or $9.06 per share, compared with full-year 2022 earnings of $18.7 billion, or $14.57 per share. Excluding special items, full-year 2023 adjusted earnings were $10.6 billion or $8.77 per share, compared with full-year 2022 adjusted earnings of $17.3 billion, or $13.52 per share.
Gas prices have fallen in Oklahoma but some are still paying $3.50 per gallon in one county
Gasoline prices might have fallen in most of Oklahoma but AAA reports...
Gasoline prices might have fallen in most of Oklahoma but AAA reports there are some counties with prices more than $3 a gallon.
Coal County in the southeast has the highest average in the state and drivers in many of its cities such as Coalgate, Lehigh, tupelo and Clarita are paying an average of $3.50 per gallon. .
In the Southwest, Greer County has an average of $2.97 per gallon.
Drivers in Lawton on the other hand have the lowest average price at $2.53 per gallon, down three cents over the past week but still 4 cents more than a month ago.
Oklahoma’s statewide average is $2.67, or four cents lower than last week but a dime more than one month ago. The U.S. average as of Thursday was $3.15 per gallon, an increase of a nickel in the past week.
