US Gulf operators brace for potential hurricane threat
Up to 4.9 million barrels of oil and 6.39 Bcf/d of gas production in...
Up to 4.9 million barrels of oil and 6.39 Bcf/d of gas production in the Gulf of Mexico could be knocked out by Tropical Storm Rafael, which is expected to strengthen into a Category 2 hurricane later this week, according to the National Hurricane Center. Shell and Chevron have begun evacuating non-essential personnel from offshore platforms as a precaution.
Florida voters rejected a measure that would legalize recreational marijuana in the state, a victory for Gov. Ron DeSantis and billionaire Ken Griffin, who opposed it. Ten states were voting on measures that would protect abortion rights; as of early this morning, six passed, and Florida’s, South Dakota’s, and Nebraska’s were projected to fail. California voters approved an initiative backed by retailers that reinstates harsher penalties for shoplifters, rolling back parts of a criminal justice law passed by voters in 2014.
Netanyahu fired Israeli Defense Minister Yoav Gallant. Israeli...
Netanyahu fired Israeli Defense Minister Yoav Gallant. Israeli Prime Minister Benjamin Netanyahu said there was a “crisis of trust” between them when he announced the surprise sacking yesterday. The popular defense minister—whose dismissal sparked mass protests across the country—oversaw Israel’s war effort in Gaza and Lebanon. He had long been at odds with Netanyahu and the far-right members of the PM’s coalition government over Israel’s war aims. Gallant spoke in favor of promoting an alternative to Hamas to govern postwar Gaza and recently called for at least a temporary diplomatic deal to return the hostages. His firing came shortly after the defense ministry sent conscription notices to ultra-Orthodox men, another political flashpoint. Israel’s current foreign minister, the Netanyahu loyalist Israel Katz, will become the new defense minister.
Non-credible bomb threats against polling sites in the Atlanta area came from Russia, Georgia’s secretary of state said.
Netflix offices in Paris and Amsterdam were reportedly raided as part of a tax fraud investigation.
Yum Brands failed to meet Wall Street’s revenue estimates as those combination Pizza Hut and Taco Bells just don’t hit like they used to.
Bernie Marcus, the billionaire co-founder of Home Depot and GOP megadonor, died at 95.
Oil prices edge up on Gulf of Mexico storm ahead of US election results
(Reuters) - Oil prices edged up about 1% on Tuesday with a storm expected...
(Reuters) - Oil prices edged up about 1% on Tuesday with a storm expected to cut U.S. output in the Gulf of Mexico and as the U.S. dollar weakened on Election Day with polls showing America's presidential race exceptionally close.
Brent crude oil futures rose 45 cents, or 0.6%, to settle at $75.53 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.7%, to settle at $71.99.
"Crude oil is bid (up) on bullish supply/demand dynamics, geopolitics, and election fever, with a little weather thrown in for good measure," Bob Yawger, director of energy futures at Mizuho, said in a report.
The U.S. presidential contest between Republican former President Donald Trump and Democratic Vice President Kamala Harris hurtled toward an uncertain finish as Americans headed to the polls.
"The (election) result might not be known for days, if not weeks, and it will most plausibly be challenged and contested," said Tamas Varga, an analyst at PVM, a brokerage and consulting firm that is part of TP ICAP.
Dow surges over 400 points as U.S. stocks finish sharply higher on Election Day
Heading into election night, stocks delivered their strongest session...
Heading into election night, stocks delivered their strongest session in weeks on fresh signs of economic strength even while Treasury yields and volatility eased. How things go tomorrow could depend on what investors know by then, and the big question might be unanswered when Wednesday's opening bell rings.
"Remember, Joe Biden was not declared the winner until the Saturday after Election Day in 2020, and the polls were not nearly as tight in the run-up to that race as they have been in 2024," said Michael Townsend, managing director, legislative and regulatory affairs at Schwab. "Market volatility is likely to increase this week if we have ongoing uncertainty about the outcome."
He added, "Markets don't care much about the outcome, but the markets are eager for an outcome. Investors, like most people, mostly just want the election behind them."
If you're wondering how the outcome might affect the market, check the latest election insights from Schwab's experts. Issues like taxes, immigration, and the regulatory environment all could be affected by the results. You can also learn how to follow futures trading trends tonight as vote totals roll in.
Here's where the major benchmarks ended:
The S&P 500®index (SPX) rose 70.07 points (1.23%) to 5,782.76; the Dow Jones Industrial Average® ($DJI) added 427.28 points (1.02%) to 42,221.88; and the Nasdaq Composite®($COMP) increased 259.19 points (1.43%) to 18,439.17.
The 10-year Treasury note yield (TNX) dropped two basis points to 4.29%.
The CBOE Volatility Index® (VIX) slipped to 20.72.
