Market Watch: Dow posts longest win streak since December as stocks end mostly higher
U.S. stocks finished mostly higher on Tuesday, with the Dow Jones Industrial...
U.S. stocks finished mostly higher on Tuesday, with the Dow Jones Industrial Average posting its fifth straight day of gain, while the S&P 500 notched its largest four-day advance since November.
The Dow industrialsrose less than 0.1%, to end near 38,883, according to preliminary data from FactSet.
The S&P 500was up 0.1%, to finish around 5,187.
The Nasdaq Composite lost 0.1%, ending near 16,332.
Stocks lost steam as Treasury yields pared earlier declines in the afternoon trading on Tuesday after Minneapolis Federal Reserve President Neel Kashkari said he can’t rule out the chance that the next move from the central bank will be a rate hike.
The quarterly earnings from Walt Disney sent its stock tumbling nearly 10%, weighing on the broader market gains.
Benchmark U.S. crude oil for June delivery fell 10 cents to $78.38 per barrel Tuesday. Brent crude for July delivery fell 17 centsto $83.16 per barrel.
Wholesale gasoline for June delivery fell 4 cents to $2.54 a gallon. June heating oiledged up 1 centto $2.47 a gallon. June natural gasrose 1 cent to $2.21 per 1,000 cubic feet.
The inclusion of West Texas Intermediate-Midland crude into the Dated Brent basket last year has significantly improved the global oil benchmark's functionality, driving record trading volumes in both physical and derivative markets. "The introduction of Midland has been successful as witnessed by decent liquidity and new entrants into the forward and dated market," said North Sea trader Kurt Chapman.
EOG Resources' oil drilling program in Ohio's Utica Shale has achieved output and cost efficiencies comparable to leading US plays through the use of three-mile laterals and longer. EOG is taking a slow and steady approach in the Utica oil play, aiming for a thorough understanding of resources and full-cycle economics before transitioning to full development mode, according to chairman and CEO Ezra Yacob.