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By: Liz Hampton – Reuters – The third-largest U.S. public pension fund on Thursday said it is launching reviews over climate concerns...
By: Sabrina Valle in Houston, Liz Hampton in Denver, and Shariq Khan – Reuters – Exxon Mobil Corp has begun marketing U.S....
By: Reuters – Chesapeake Energy Corp on Tuesday raised its full-year forecasts for adjusted core income and production after beating Wall Street...
By: Stephen Cunningham – Argus Media – Oil Majors ExxonMobil and Chevron are ramping up drilling operations in the Permian basin of...
By: Anna Shiryaevskaya, Stephen Stapczynski, and Ann Koh – Bloomberg News – The era of cheap natural gas is over, giving way...
By Bob Campbell, Odessa American, Texas – If the energy industry would quit firing all its employees at the first sign of...
By: Adrian Hedden – Carlsbad Current Argus – As gas production ramps up again New Mexico’s Democrat leaders in Congress urged the...
By: Brian Maffly – Salt Lake Tribune – There were just three rigs drilling in Utah’s oil and gas fields last January...
By: J. Robinson & Kelsey Hallahan – S&P Global Platts – As Appalachia’s natural gas markets turn increasingly bullish, one of the...
U.S. stocks closed lower on Thursday as bond yields rose and investors waited to hear from Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium on Friday.
The Dow Jones Industrial Average fell about 177 points, or 0.4%, closing near 40,713, according to preliminary data.
The S&P 500 shed about 50 points, or 0.9%, to close around 5,570, logging its worst daily decline since Aug. 5, when it tumbled 3%.
The Nasdaq Composite lost about 299 points, or 1.7%, closing near 17,619.
"Powell is expected to lay the groundwork for the Fed’s first rate cut in over four years," Adam Turnquist, chief technical strategist at LPL Financial, wrote in emailed comments Thursday. "Signs of reduced pricing pressures and cooling economic growth will likely be enough for policymakers to start reducing the target rate."
According to Dow Jones Market Data, the 10-year Treasury yield jumped 8.5 basis points to 3.862%, notching its biggest daily gain in a week.
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