S&P 500 has biggest percentage gain since late 2022 as stocks finish higher
All three major stock indexes closed higher for the second...
All three major stock indexes closed higher for the second time in six sessions on Thursday, fueled by weekly jobless claims that gave investors hope the U.S. labor market can continue to hold up.
Thursday's data was "soothing concerns over a U.S. economic recession,'' according to senior markets economist James Reilly at Capital Economics.
The Dow Jones Industrial Average finished up by 683.04 points, or 1.8%, at 39,446.49, based on preliminary data.
The S&P 500 closed up by 119.81 points, or 2.3%, at 5,319.31. On a percentage basis, it was the index's best day since Nov. 30, 2022.
The Nasdaq Composite closed up by 464.22 points, or 2.9%, at 16,660.02
U.S. first-time unemployment claims retreat from nearly one-year high
The numbers: The number of Americans who applied...
The numbers: The number of Americans who applied for unemployment benefits last week sank to 233,000 and receded from nearly one year, suggesting layoffs remain quite low and that the labor market is still in good shape.
New claims fell by 17,000 in the seven days that ended Aug. 3 from 250,000 in the prior week, the government said Thursday. The latest reading marks a one-month low.
Economists polled by the Wall Street Journal had forecast new claims to total 240,000, based on seasonally adjusted figures.
A surge in new claims at the end of July appeared to stem mostly from people in Texas being unable to work after Hurricane Beryl.
Williams sticks to current strategy despite demand surge
Despite strong demand for new natural gas supply from data centers, Williams...
Despite strong demand for new natural gas supply from data centers, Williams is holding off on additional Transco expansion projects beyond the current 1.6 Bcf/d Southeast Supply Enhancement, which could come online in late 2027. "Particularly in the Southeast and the mid-Atlantic...we frankly are kind of overwhelmed with the number of requests that we're dealing with and we are trying to make sense of those projects," said Williams CEO Alan Armstrong.
Disney finally makes money from streaming. The company’s...
Disney finally makes money from streaming. The company’s streaming business, which includes Disney+, Hulu, and ESPN+, turned a profit for the first time—a quarter sooner than it planned, Disney said yesterday while reporting its quarterly earnings. “We were losing $1 billion a quarter not that long ago,” Disney’s CFO reminded analysts. Movies were also a bright spot, largely thanks to the success of Inside Out 2. But all was not entirely well within Disney’s kingdom as revenues from theme parks—an area the company had been relying on to pick up the slack from others and pouring resources into—came in weaker than expected as demand decreased.
One year after a devastating wildfire tore through Lahaina on Maui, the 151-year-old banyan tree damaged in the blaze is thriving.
Wegovy sales were weaker than Novo Nordisk expected them to be last quarter, leading the maker of blockbuster weight loss drugs to slim down its profit outlook, which sent its stock plummeting.
Warner Bros. Discovery posted a $9.1 billion loss in Q2 tied to the declining value of its linear TV networks.
Lyft’s CEO promised to “open up a can of whoop ass” on surge pricing, introducing a new feature that lets riders pay for a subscription to lock in ride prices for routes at specific times.
Track and field was the thing to watch at the Olympics yesterday as American Quincy Hall pulled off a comeback to clinch the 400m gold.
Benchmark U.S. crude oil for September delivery rose $2.03 to $75.23...
Benchmark U.S. crude oil for September delivery rose $2.03 to $75.23 per barrel Wednesday. Brent crude for October delivery rose $1.85 to $78.33 per barrel.
Wholesale gasoline for September delivery rose 3 cents to $2.36 a gallon. September heating oil rose 6 cents to $2.36 a gallon. September natural gas rose 10 cents to $2.11 per 1,000 cubic feet.
