Dow finishes down over 300 points as investors await December jobs report
U.S. stocks finished lower on Thursday, with the Dow dropping more than 300 points, as strong...
U.S. stocks finished lower on Thursday, with the Dow dropping more than 300 points, as strong jobs data and hawkish Fed commentary signaled more aggressive Federal Reserve interest-rate hikes to come. The S&P 500 SPX shed 44.87 points, or 1.2%, to finish at 3,808.10. The Nasdaq Composite COMP dropped 153.52 points, or 1.5%, to 10,305.24. The Dow Jones Industrial Average DJIA retreated 339.69, or 1%, to 32,930.08. Private payrolls data from ADP showed jobs growth last month was far more robust than economists had expected, stoking concerns that Friday’s monthly payrolls report might also surprise to the upside. One stock-market analyst told MarketWatch earlier that “good news” about the labor market is “bad news” for stocks and bonds, as it means the Fed has failed to undercut the labor market, a key step toward suppressing inflation.
US crude, gasoline supplies rose last week, API says
Refining capacity shutdowns and Strategic Petroleum Reserve oil releases helped boost US crude oil stockpiles...
Refining capacity shutdowns and Strategic Petroleum Reserve oil releases helped boost US crude oil stockpiles by 3.3 million barrels last week, the American Petroleum Institute reported. Gasoline supplies increased by 1.2 million barrels, while distillate inventories shed 2.4 million barrels, the data show.
Europe kicks off 2023 with a historic heat wave. At least eight European countries...
Europe kicks off 2023 with a historic heat wave. At least eight European countries have logged their hottest January temperatures on record amid a heat wave encompassing about 15 countries across the Continent. The summerlike temps are causing ski resorts in the northern Alps and French Pyrenees to close. Meteorologists are raising the alarm, calling the weather “truly unprecedented in modern records.” The historically hot winter follows a historically hot summer, as 2022 marked Europe’s warmest ever.
The world’s largest tech trade show, CES, opens to the public today to show off weird, wacky, and occasionally...
The world’s largest tech trade show, CES, opens to the public today to show off weird, wacky, and occasionally pretty useful new devices. More than 3,000 exhibitors and 100,000 attendees are expected to be in Las Vegas this week for the event as it tries to bounce back to its pre-pandemic popularity.
