A lot of you bought the dip. One day after the S&P...
A lot of you bought the dip. One day after the S&P 500’s worst session since 2022, stocks got off the schneid and partially rebounded, putting fears of a recession on hold. Tuesday started well, with Japan’s Nikkei—which had cratered on Monday—logging its best day since 2008, giving US investors some positive mojo. From there, US stocks, including Magnificent Seven stalwarts like Microsoft and Nvidia, and both major cryptocurrencies, moved up. “Get used to the volatility,” one Bank of America analyst told Bloomberg. The S&P 500 is still up over 10% this year despite this week’s turbulence.
The EPA issued a rare emergency order to ban use of a weedkiller that’s linked to serious health risks for unborn babies.
Google launched its new set-top box, the $100 TV Streamer, and announced it is discontinuing the smaller, cheaper Chromecast.
Microsoft joined CrowdStrike in firing back at Delta, saying the airline turned down its offers to help with the fallout of last month’s massive IT outage.
Axios, the news site known for its brevity, laid off 10% of its staff, citing “changes in the media business.”
Benchmark U.S. crude oil for September delivery...
Benchmark U.S. crude oil for September delivery rose 26 cents to $73.20 per barrel Tuesday. Brent crude for October delivery rose 18 cents to $76.48 per barrel.
Wholesale gasoline for September delivery remained unchanged at $2.33 a gallon, September heating oilremained unchangedat $2.30 a gallon, and September natural gas rose 7 cents to $2.01 per 1,000 cubic feet.
Dow ends up nearly 300 points as stocks bounce back from worst day in nearly 2 years
U.S. stocks finished...
U.S. stocks finished higher on Tuesday, clawing back some losses from their worst day in nearly two years, as investors paused from concerns that the U.S. economy could be heading toward a recession.
The Dow Jones Industrial Average rose 0.8%, to end near 38,996, according to preliminary data from FactSet.
The S&P 500 was up 1%, to finish around 5,239.
The Nasdaq Composite ended 1% higher, at around 16,366.
U.S. trade deficit recedes from 19-month high as oil exports rise
The numbers: The trade deficit fell by 2.5% in...
The numbers: The trade deficit fell by 2.5% in June and receded from a 19-month high, owing to higher exports of aircraft and U.S.-produced oil and gas.
Government data showed that the deficit dropped to $73.1 billion in June from $75.0 billion in May.
Still, a bigger trade gap in the second quarter shaved 0.7 percent points off the 2.8% annual rate of growth in the second quarter. Higher deficits subtract from the gross domestic product.
Cheniere, Galp Sign LNG Agreement for Sabine Pass Expansion
Cheniere Energy Inc.’s subsidiary Cheniere...
Cheniere Energy Inc.’s subsidiary Cheniere Marketing LLC signed a long-term LNG sale and purchase agreement (SPA) with Galp Energia subsidiary Galp Trading SA, the companies announced in an Aug. 5 press release.
Under the 20-year SPA, Galp Trading will purchase 0.5 million tonnes per annum (mtpa) from Cheniere Marketing on a free-on-board basis for a Henry Hub purchase price and a fixed liquefaction fee.
Deliveries will begin in the early 2030s and remain subject to a final investment decision on the second train of the Sabine Pass Liquefaction Expansion Project. Galp will purchase a limited number of cargoes before the start of the second train.
