U.S. stocks finished higher on Tuesday, as the S&P 500 and the Nasdaq...
U.S. stocks finished higher on Tuesday, as the S&P 500 and the Nasdaq Composite set fresh records ahead of Wednesday's Juneteenth observance.
Nvidia Corp. stock surged 3.5%, making the AI chipmaker the world's most valuable company by market capitalization, eclipsing megacap tech companies Microsoft Corp. and Apple Inc.
The S&P 500 was up 0.3%, to finish around 5,487. According to preliminary data from FactSet, it was the 31st record close for the large-cap benchmark index so far in 2024.
The Nasdaq Composite ended flat at around 17,862, notching its 20th all-time closing high for the year. The index also rose for seven consecutive trading days, booking its longest win streak since December.
The Dow Jones Industrial Average rose 0.2%, ending near 38,834.
U.S. stocks spent most of the Tuesday session wavering between gains and losses after May retail sales data showed consumers have been more cautious about spending amid elevated inflation and high interest rates.
The New York Stock Exchange and the Nasdaq are closed on Wednesday, June 19, to commemorate the ending of slavery in the United States, as are U.S. bond markets.
U.S. industrial-production pickup in May is sharpest in 10 months
The numbers: U.S. Industrial production rose 0.9% in...
The numbers: U.S. Industrial production rose 0.9% in May, the Federal Reserve reported Tuesday. That is the biggest gain since last July.
The gain was above expectations of a 0.4% gain, according to a survey of economists by the Wall Street Journal.
Capacity utilization rose to 78.7% from 78.2% in the prior month. The capacity-utilization rate reflects the limits to operating the nation’s factories, mines, and utilities.
Pa. bill seeks to end road spread of drilling wastewater
The Pennsylvania House...
The Pennsylvania House is set to take up legislation to ban the use of drilling wastewater on roads, a practice that has continued in rural areas despite being halted in 2017. Penn State research has found this wastewater ineffective for dust control and harmful due to high salt and radioactive mineral content. Still, industry groups representing conventional drillers argue that the studies do not reflect real-world conditions.
According to the Texas Oil and Gas Association, Texas's oil and gas...
According to the Texas Oil and Gas Association, Texas's oil and gas industry has reached unprecedented production levels amid a record-breaking heat wave. In May, the state produced 5.7 million barrels of crude oil per day and 32 billion cubic feet of gas. This production surge has brought significant economic gains, with $56.8 billion in exports from January to March.
Permian Basin landowner LandBridge is set to raise up to $319 million in a US initial public offering, aiming for a valuation of up to $1.6 billion. Backed by Five Point Energy, the company leases 220,000 surface acres to oil and gas producers and sells extracted resources.
