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Phillips 66 has entered into an agreement to acquire Pinnacle Midland Parent LLC from Energy Spectrum Capital for $550 million in cash,...
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Forced pooling, also known as compulsory pooling or statutory pooling, is a legal mechanism that allows oil and gas companies to force...
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The numbers: Applications for mortgages surged as homeowners jumped on lower rates to refinance their home loans.
The 30-year mortgage rate fell for the second week to the lowest level in a year.
The drop in rates pushed the market composite index — a measure of mortgage-application volume — up last week, the Mortgage Bankers Association said Wednesday.
The market index rose 16.8% weekly to 251.3 for the week ending August 9. A year ago, it stood at 193. The index is now at its highest level since January 2023.
U.S. stocks finished higher on Tuesday, with the S&P 500 and the Nasdaq Composite scoring their biggest four-day rally of 2024 after softer-than-expected producer-price data reinforced bets that the Federal Reserve will commence cutting interest rates in September.
The Dow Jones Industrial Average rose 408.63 points, or 1%, to end at 39,765.64, according to FactSet data.The S&P 500 gained 90.04 points, or 1.7%, to finish at 5,434.43, and the Nasdaq Composite advanced 407 points, or 2.4%, ending at 17,187.61.
The S&P 500 and the Nasdaq have posted gains for four consecutive trading sessions. Both indexes notched their biggest four-day percentage climb of 2024.
Tuesday’s advance added to the market's comeback from the stock selloff earlier this month, with the three major indexes further erasing their heavy losses from the Aug. 5 rout.
Investors now await Wednesday's consumer-price index figures for July and Thursday's retail-sales data to gauge the health of the U.S. economy and whether the Fed truly has a green light to cut rates in September
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Chevron CEO Michael Wirth recently criticized U.S. President Joe Biden’s administration for policies that...
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A small group of California Republicans has introduced several bills ahead of a special...
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