Halliburton taps into data center boom with VoltaGrid deal
As global fracking activity slows, Halliburton is diversifying beyond...
As global fracking activity slows, Halliburton is diversifying beyond oilfield services by teaming up with VoltaGrid to supply turbines, engines and technology for data centers, starting in the Middle East. The company also reported better-than-expected third-quarter adjusted earnings of $0.58 per share, while North American revenue rose 5% sequentially to $2.4 billion on increased stimulation and completion work. However, Halliburton CEO Jeff Miller cautioned that North American oil producers are now investing below the maintenance levels required to sustain output.
U.S. stocks end lower on economic uncertainty, trade tensions; gold falls again
The Dow Jones Industrial Average and S&P 500 snapped...
The Dow Jones Industrial Average and S&P 500 snapped a three-day stretch of gains to end lower on Wednesday amid a mix of economic uncertainty, U.S.-China trade tensions, and a selloff in gold. Gold futures settled at $4,065.40 on Wednesday. The Nasdaq Composite also fell.
The ongoing government shutdown in Washington raised concerns about economic damage, while gold's selloff heightened volatility fears. Separately, Reuters reported that the Trump administration is considering curbs on a wide range of software-powered exports to China.
The Dow fell 334.33 points, or 0.7%, to finish at 46,590.41, based on preliminary data. It had reached a record close of 46,924.74 on Tuesday.
The S&P 500 dropped 35.95 points, or 0.5%, to end at 6,699.40.
The Nasdaq Composite declined 213.27 points, or 0.9%, to close at 22,740.40
The U.S. Struggles to Break Out From China’s Grip on Rare Earths
The Trump administration is pursuing an array of unconventional...
The Trump administration is pursuing an array of unconventional measures to shore up mineral supplies that are vital for makers of cars, jet engines, weaponry and data centers, as the Chinese government leverages its control of rare earth exports in ways that could cripple global industry.
In recent months, the administration has taken stakes in several mining and minerals firms. It has discussed establishing a strategic reserve of rare earths and supporting domestic producers through price controls and tariffs. On Monday, the United States announced a strategic agreement with Australia to invest billions of dollars to develop mineral supplies. The topic is expected to be on the agenda for a Group of 7 meeting in Canada at the end of the month.
China mines 70 percent of the world’s rare earths and processes 90 percent of the global supply. When the Trump administration recently hit the nation with high tariffs and expanded technology controls, the Chinese government responded by rolling out a licensing system that would give it control over rare-earth shipments even outside China.
CenterPoint Sells Ohio Gas Assets to National Fuel Gas for $2.62B
CenterPoint Energy is selling its Ohio natural...
CenterPoint Energy is selling its Ohio natural gas distribution assets to National Fuel Gas Co. for $2.62 billion.
The deal includes approximately 5,900 miles of transmission and distribution pipeline in Ohio serving 335,000 metered customers, the companies announced Oct. 21. National Fuel will also acquire a team of employees to operate the distribution and transmission assets.
The deal is expected to close in the fourth quarter of 2026 and is subject to federal and state regulatory reviews.
The acquisition will double the size of National Fuel’s gas utility rate base and expand operations into Ohio. National Fuel produces, transports, stores, and distributes natural gas in western New York and Pennsylvania.
The Trump–Putin meeting was called off. Less than...
The Trump–Putin meeting was called off. Less than a week after announcing that President Trump would soon meet with Vladimir Putin in Hungary to discuss ending the war in Ukraine, the White House said the rendezvous is not happening any time soon. According to ABC News, a White House official argued that the meeting was no longer necessary after Secretary of State Marco Rubio and his counterpart, Russian Foreign Minister Sergei Lavrov, “had a productive call.” Russia has not budged from its maximalist position that the “root causes” of the war must be addressed before it agrees to a ceasefire.
President Trump is reportedly demanding that the Justice Department pay him $230 million in compensation for its previous criminal investigations of him.
GM beat Wall Street’s earnings expectations and raised its guidance after it said it had experienced a smaller hit from tariffs than initially forecast.
Sanae Takaichi became Japan’s first female prime minister yesterday, promising to boost the country’s economy and improve relations with the US.
Coca-Cola with cane sugar has started to roll out in the US after President Trump called on the company to use the ingredient instead of high fructose corn syrup.
Walmart paused job offers to candidates who need H-1B visas, Bloomberg reported, following the Trump administration’s instituting $100,000 visa fees.
HBO Max raised prices by $1–$2 per month, depending on the type of plan.
