Mixed Results for Big Banks Affect Stock Performance
Category: Markets Total Views: 24By : Olivia Taylor Updated: 07-13-2024
S&P 500 and Dow Jones Hit Record Highs
Friday saw a surge on Wall Street as the S&P 500 and Dow Jones Industrial Average hit fresh intraday record highs. Investors are hopeful about a possible September U.S. Federal Reserve interest rate reduction. Though both indices gave up some gains by the close, this positive attitude drove notable market increases. At 5,615.35 points—a 0.55% rise—the S&P 500 concluded the session. Rising 0.62%, the Dow Jones Industria... Read More
U.S. Refiners Increase Activity Amid High Fuel Demand
Category: Markets Total Views: 4By : Caleb Price Updated: 07-12-2024
Oil Prices Rise Amid Easing U.S. Inflation
Friday's oil prices rose in response to indications of American, the world's biggest oil user's inflation slowing down. U.S. West Texas Intermediate crude climbed by 85 cents to $83.47 per barrel; Brent crude rose by 72 cents. Over the past two sessions, both benchmarks showed increases. Still, Brent futures were set for a weekly drop of roughly 1% following four weeks of increases. Rising prices coincided with declining consu... Read More
Labor Market Softening as Job Openings Decline
Category: Markets Total Views: 21By : Riley Hayes Updated: 07-11-2024
Drop in New Unemployment Applications Surpasses Expectations
Last week's total of Americans submitting fresh unemployment benefit applications dropped more than expected. Beginning claims for state unemployment benefits dropped by 17,000 to a seasonally adjusted 222,000 for the week ending July 6. Since late May, this figure shows the lowest level. A Reuters poll showed economists had projected 236,000 claims. Though it aligns with the Independence Day holiday, which usually c... Read More
S&P 500 and Nasdaq Hit Fifth Consecutive Record Highs
Category: Markets Total Views: 21By : Logan Wright Updated: 07-10-2024
Fifth Consecutive Intraday Records for S&P 500 and Nasdaq
For the fifth day in running, the S&P 500 and Nasdaq set intraday records. For first time, the S&P 500 exceeded 5,600. This run emphasizes the excellent performance of important sectors. Expectations of a September interest-rate reduction have helped investor mood. Recent remarks by Federal Reserve Chair Jerome Powell have stoked these hopes. Participants in the market are hopeful about steady increase. The cons... Read More
U.S. Crude Oil Sees Fourth Weekly Gain Despite Drop
Category: Markets Total Views: 42By : Caleb Price Updated: 07-08-2024
U.S. Crude Oil Prices Drop Amid Hurricane Beryl Concerns
Monday's U.S. crude oil futures dropped almost 1% as traders tracked Hurricane Beryl's influence. The storm touched Gulf Coast production, refining, and export facilities. On Friday, crude prices closed down but showed a fourth straight weekly increase. Recently the benchmark reached a two-month high of $84.52 per barrel. These prices were taken advantage of by traders, which slightly dropped the market. U.S. oil has... Read More