S&P 500, Nasdaq finish at fresh closing records with bulls 'fully in control'
U.S. stocks finished mostly higher in Wednesday's shortened session,...
U.S. stocks finished mostly higher in Wednesday's shortened session, with investors undeterred by labor-market and service-sector data that suggests the economy may be cooling.
The Dow Jones Industrial Average finished down by 23.85 points, or less than 0.1%, at 39,308, based on preliminary data. It fell for the first time in the past three sessions.
The S&P 500 ended up by 28.01 points, or 0.5%, at 5,537.02. Wednesday's level is the index's 33rd record close of the year.
The Nasdaq Composite closed up by 159.54 points, or 0.9%, at 18,188.30 for its 23rd record close of 2024.
"Bulls remain fully in control," said Mark Hackett, chief of investment research at the Ohio-based financial services company Nationwide. He added that even political uncertainty in the U.S. hasn't been enough to cause market weakness or volatility.
API reports larger-than-expected crude inventory draw
US crude oil stockpiles...
US crude oil stockpiles declined by 9.16 million barrels last week, far exceeding analysts' expectations of a 150,000-barrel decrease, the American Petroleum Institute reported. The API data showed that gasoline supplies expanded by 2.47 million barrels, while distillate inventories shed 740,009 barrels.
DOE moves to cut gas prices with gasoline reserve sale
The Energy Department has...
The Energy Department has sold 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve at an average price of $2.34 per gallon as part of the planned closure of the stockpile. Timed strategically before the July 4 holiday, the sale aims to lower regional gasoline prices and ensure sufficient supply for northeastern states during peak travel times.
U.S. economy generated 150,000 new private-sector jobs in June: ADP
The numbers: Paycheck company ADP said U.S. businesses...
The numbers: Paycheck company ADP said U.S. businesses added a modest 150,000 new jobs in June, marking the smallest increase in five months, possibly another sign the labor market is cooling. Economists polled by the Wall Street Journal had forecast a gain of 160,000.
“Job growth has been solid, but not broad-based,” said Nela Richardson, chief economist, ADP. “Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month.”
ADP is not a good historical predictor of the government’s official jobs estimate, which follows a few days later, but the two reports do move in the same direction over time.
The government is expected to report on Friday that 200,000 new jobs were created in June, according to a Wall Street Journal poll.
Streamlined logistics and advanced technologies such as zipper fracs,...
Streamlined logistics and advanced technologies such as zipper fracs, simul-fracs and hydraulically actuated frac manifolds are optimizing wellbores, cutting emissions and improving environmental stewardship in the US oil and gas sector, according to industry leaders and analysts. Additionally, the shift to 24/7 operations and electric fleets further reduces environmental impact and fuel costs, while AI and machine learning are taking equipment monitoring and predictive maintenance up a notch.
