Reuters Wall Street’s S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week’s Federal Reserve meeting for signs on how it views a restarting economy. The S&P 1500 airlines index tumbled 7.3%, while cruise operators Carnival Corp and Norwegian Cruise Line Holdings Ltd
CNBC Stocks fell in volatile trading Friday as Wall Street wrapped up its worst weekly performance since late March. Investors grappled with a slew of economic reports as well as increasing tensions between China and the U.S. The Dow Jones Industrial Average traded 100 points lower, or 0.4%. Earlier in the day, the 30-stock average dropped more than 260 points.
CNBC A record number of Americans just lost their job, and yet stocks are moving higher. This seems paradoxical given the economic toll — to say nothing of the emotional toll — on millions of people across the country without a job. While some say this is further indication that the stock market has become decoupled from reality, others say
CNBC Professional investors are heading for the sidelines while demanding that companies stop using their cash to buy back stocks and instead improve their balance sheets. The Bank of America Global Fund Manager survey for April reflects the large level of caution seen in the markets since efforts to stop the coronavirus have shut down large portions of the world’s
Reuters LONDON – Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already awash with crude after their three-year supply pact collapsed. Despite sliding demand for crude due to the coronavirus, Riyadh made
CNBC Is it time to get defensive? That’s been the question of the week after a volatile bout for U.S. markets, which saw the Dow Jones Industrial Average have its biggest-ever one-day point loss Thursday and biggest one-day point gain Monday. The swings continued Tuesday, with the Dow ultimately closing down nearly 3% after an emergency interest rate cut by the Federal Reserve, an attempt
Houston Chronicle Saudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said. The IPO arrangers are indicating in private discussions that they already have nearly enough orders to cover the institutional portion of the deal, the people said,
Houston Chronicle Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter. In a statement released after close of market on Monday, NOV reported a $244 million loss on $2.1 billion of revenue during the third quarter. The figures were down from the $1 million
From Reuters Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal. Brent crude LCOc1 settled up 81 cents, or 1.4%, at $59.51 a barrel. U.S. West Texas Intermediate crude CLc1 ended $1.29, or 2.4%, higher
From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a
By Tyler Losier, Energy Reporter, Oil & Gas 360 Magellan Midstream prices $500 million of its 3.950% senior notes due 2050 Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950% senior notes due 2050 at 99.910% of par to yield 3.955% to maturity. Proceeds from the offering, after deducting underwriting
By Tyler Losier, Energy Reporter, Oil & Gas 360 Saltstone Capital Management calls for special committee of the board to review strategic alternatives Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas Petroleum’s (stock ticker: AXAS) board of directors this week, calling for the creation of a special committee to explore strategic
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