Israel and Lebanon Agree to a Cease-Fire, Biden Says
President Biden on Tuesday announced a cease-fire deal...
President Biden on Tuesday announced a cease-fire deal to stop the fighting between Israel and the Lebanese armed group Hezbollah, raising hope that it could bring a lasting end to the deadliest war in Lebanon in decades.
Minutes earlier, the Israeli prime minister’s office announced that ministers had approved the cease-fire proposal. The fighting has displaced over a million Lebanese and tens of thousands of Israelis, killed more than 3,000 Lebanese and 100 Israelis and upended the regional balance of power.
Speaking in a televised address from the White House, Mr. Biden said the cease-fire would go into effect at 4 a.m. Wednesday in Israel and Lebanon. He said the deal was intended to definitively end the war between the two sides, calling it “designed to be a permanent cessation of hostilities.”
Dow, S&P 500 end at record highs as investors shake off Trump's tariff threat
Wall Street posted its seventh straight winning session and new all-time...
Wall Street posted its seventh straight winning session and new all-time highs despite tariff worries, lifted by hopes for another Federal Reserve rate cut and a mega-cap revival. But a major inflation report looms first thing tomorrow.
"Momentum is generally favorable and seasonals are strong too, but frothy sentiment remains a risk," said Liz Ann Sonders, chief investment strategist at Schwab.
Earlier today, some fear resurfaced after President-elect Trump promised new tariffs on imports from Mexico and Canada and higher tariffs on imports from China upon taking office. The U.S. dollar initially spiked on the news, then stepped back. The 10-yearTreasury noteyield (TNX:CGI), which scraped against one-month lows yesterday in a calming trend, rose today but remained below last week's peaks.
Inflation and rate fears appeared subdued, however, after the Federal Reserve's latest minutes received a dovish interpretation and as investors await tomorrow morning's October Personal Consumption Expenditure (PCE) price index report, the Fed's favored inflation reading. Here's where the major benchmarks ended:
The S&P 500® index (SPX)rose 34.26 points (0.57%) to 6,021.63; the Dow Jones Industrial Average®($DJI) added 123.74 points(0.28%) to 44,860.31; and the Nasdaq Composite®($COMP) gained 119.46 points(0.63%) to 19,174.30.
The 10-year Treasury note yield climbed four basis points to 4.3% after Trump's tariff comments, but shorter-term yields fell after the Fed minutes, keeping the yield curve slightly out of inversion.
The CBOE Volatility Index®(VIX)dropped to 14.19, near a two-week low.
Oil settles down after Israel agrees to ceasefire deal with Lebanon
(Reuters) - Oil prices settled lower on Tuesday, extending...
(Reuters) - Oil prices settled lower on Tuesday, extending Monday's losses in choppy trade after Israel agreed to a ceasefire deal with Lebanon, reducing oil's risk premium.
Brent crude futures settled down 20 cents, or 0.27%, to $72.81 a barrel. U.S. West Texas Intermediate crude futures settled at $68.77 a barrel, down 17 cents, or 0.25%.
Israel's security cabinet has agreed a ceasefire deal with Lebanon, Channel 12 reported. The accord was expected to take effect on Wednesday.
Israeli Prime Minister Benjamin Netanyahu said he was ready to implement a ceasefire deal with Lebanon and would "respond forcefully to any violation" by Hezbollah.
On Monday, oil prices fell more than $2 following multiple reports that Israel and Lebanon had agreed to the terms of a ceasefire in the Israel-Hezbollah conflict.
A ceasefire could pressure crude oil prices because the U.S. administration would likely reduce sanctions on oil from Iran, a supporter of Hezbollah, StoneX analyst, Alex Hodes said in a note on Tuesday.
Nigeria's Dangote refinery may squeeze margins for rivals
As Nigeria's 650,000-barrel-per-day Dangote refinery scales up, analysts...
As Nigeria's 650,000-barrel-per-day Dangote refinery scales up, analysts warn of mounting pressure on global refining margins, particularly in high-cost regions like Europe. "This is one of the largest refineries that has ever been built, so the pace at which it ramps up is the difference between margins staying good for refiners or deteriorating," said S&P Global Commodity Insights Global Head of Fuels and Refining Daniel Evans.
Produced water management challenge requires innovation
Produced water management is both a challenge and an opportunity for...
Produced water management is both a challenge and an opportunity for the US oil and natural gas industry, said Occidental Petroleum CEO Vicki Hollub, as she advocated for beneficial reuse. ConocoPhillips' Vice President for the Delaware Basin Aaron Hunter echoed this view and stressed the need for collaboration and quality standards to scale produced water recycling and reuse.
