U.S. stocks snap 3-session skid after Trump's tariff relief for automakers
Major U.S. stock indexes ended sharply higher on Wednesday,...
Major U.S. stock indexes ended sharply higher on Wednesday, after a one-month exemption from tariffs for automakers raised hopes that trade tensions can ease.
Meanwhile, U.S. government debt sold off — sending the benchmark 10-year yield up by the most in two weeks, to 4.26%.
The Dow Jones Industrial Average closed up by 485.60 points, or 1.1%, at 43,006.59, based on preliminary data. It had jumped by as much as 614.93 points to a session high of 43,135.92.
The S&P 500 finished up by 64.48 points, or 1.1%, at 5,842.63.
The Nasdaq Composite rose 267.57 points, or 1.5%, to finish at 18,552.73.
Oil ends at lowest price since September on tariff worries, OPEC+ output plans
Oil declined for a fourth straight session Wednesday, settling at its...
Oil declined for a fourth straight session Wednesday, settling at its lowest price since September, on prospects for a global trade war that could dent demand and plans by major oil producers to begin unwinding output cuts next month.
Official U.S. data showing a bigger-than-expected weekly rise in domestic crude inventories contributed to oil’s decline Wednesday.
West Texas Intermediate crude for April delivery fell $1.95, or 2.9%, to settle at $66.31 a barrel on the New York Mercantile Exchange.
May Brent crude the global benchmark, declined by $1.74, or nearly 2.5%, to $69.30 a barrel on ICE Futures Europe. Brent and WTI both marked their lowest settlements since Sept. 10, according to Dow Jones Market Data.
April gasoline shed 2.6% to $2.14 a gallon, while April heating oil lost 2% to $2.24 a gallon.
Natural gas for April delivery settled at $4.45 per million British thermal units, up 2.3%.
US liquefied natural gas exports fell slightly compared...
US liquefied natural gas exports fell slightly compared with previous months to 9.2 million short tons in February, preliminary LSEG data show. Europe received 82% of shipments, while volumes sent to Latin America more than doubled month over month to 617,300 short tons.
The US has implemented 25% tariffs on imports from Canada...
The US has implemented 25% tariffs on imports from Canada and Mexico, prompting Canada to announce equal tariffs on US goods, while Mexico has yet to detail its response. The tariffs include a 10% duty on Canadian energy products. The US also doubled a 10% tariff on Chinese imports to 20%, with the Chinese government responding with tariffs of up to 15% on farm products and some other goods.
President Trump addressed a joint session of Congress
Trump began his speech, which ran one hour and 40 minutes, by saying,...
Trump began his speech, which ran one hour and 40 minutes, by saying, “America is back” and lauding the “swift and unrelenting action” his administration has taken in the first 43 days of his second term. The president reiterated many of his policy positions on culture issues, immigration, tax reduction, foreign policy, bureaucracy, and tariffs. He announced that his admin had “just apprehended the top terrorist responsible” for the suicide bombing in Kabul that killed 13 American military personnel during the 2021 withdrawal from Afghanistan. He also revealed that Ukrainian President Volodymyr Zelensky had sent him an “important” letter just “a little while ago” and went on to say, “If you want to end wars, you have to talk to both sides.” The president also praised Elon Musk, called Sen. Elizabeth Warren “Pocahontas,” blamed former President Biden for the high price of eggs, and urged Congress to repeal the bipartisan CHIPS Act.
