Hegseth grilled over excessive drinking, sexual assault allegations. At...
Hegseth grilled over excessive drinking, sexual assault allegations. At a Senate confirmation hearing yesterday, the Fox News host, who is President-elect Trump’s pick to lead the Department of Defense, faced questions about his checkered past and qualifications for the top military role. Hegseth continued to deny allegations of misconduct while deflecting inquiries about reports of infidelity and drinking on the job. Another point of contention was his views on women in the military—the TV personality and former national guardsman has said women should not serve in combat roles. To be confirmed, Hegseth likely needs 50 of the 53 Senate Republicans to back him in a vote expected as early as next week.
Meta revealed it’s cutting 5% of its workforce, or about 3,600 employees, targeting its lowest-performing workers to kick off what CEO Mark Zuckerberg said will “be an intense year.”
Daniel Pinto, COO of JPMorgan and Jamie Dimon’s right-hand man, announced his retirement, adding further intrigue to Wall Street’s biggest succession drama.
DirecTV launched a sports streaming service with content from the NFL and other big leagues for $70 a month.
Special Counsel Jack Smith argued in a final report released yesterday that Donald Trump would have been convicted of election interference if the case had gone to trial.
Dow ends higher, Nasdaq falls for 5th straight day ahead of CPI inflation report
U.S. stocks finished mostly higher in a choppy session...
U.S. stocks finished mostly higher in a choppy session on Tuesday ahead of the release of a critical inflation report that could decide how much further the Federal Reserve will cut interest rates in 2025.
The Nasdaq Composite fell 0.2% to end near 19,044, according to preliminary data from FactSet. The tech-heavy index slid for a fifth straight session. The S&P 500 was up 0.1% to finish around 5,842, while the Dow Jones Industrial Average popped over 200 points, or 0.5%, ending near 42,518.
The wholesale inflation data did offer investors some relief from a string of elevated inflation in the final months of 2024, but markets will wait for further confirmation from the CPI report due out Wednesday morning to see if the Fed is succeeding in bringing inflation close to its 2% target.
Investors are also awaiting quarterly earnings from some of the biggest banks and financial firms this week, with JPMorgan Chase, Wells Fargo, Citigroup and BlackRock set to report results on Wednesday.
Oil Prices Fell for the First Time in Four Sessions
The Energy Information Administration will release its weekly petroleum report on Wednesday morning and...
The Energy Information Administration will release its weekly petroleum report on Wednesday morning and analysts expect it to reveal an eighth-straight weekly decline in U.S. crude supplies, according to a survey conducted by S&P Global Commodity Insights
The EIA has reported seven consecutive weekly declines through the weekly ended Jan. 3. Ahead of the data's release, oil prices on Tuesday marked their first loss in four sessions.
February West Texas Intermediate crudesettled down a $1.32, or 1.7%, lower at $77.50 a barrel on the New York Mercantile Exchange and March Brent crude ended at $79.92 on ICE Futures Europe, down $1.09, or nearly 1.4%. Tighter supplies could put upward pressure on oil prices.
Kinder Morgan Acquires Bakken NatGas G&P in $640MM Deal
Kinder Morgan (KMI) has agreed to a $640 million deal for a North Dakota...
Kinder Morgan (KMI) has agreed to a $640 million deal for a North Dakota gathering and processing (G&P) network currently owned by Outrigger Energy II, the company announced Jan. 13.
KMI subsidiary Hiland Partners Holdings LLC will make the purchase, which includes a 270 MMcf/d processing plant and a 104-mile rich gas gathering header pipeline with 350 MMcf/d capacity. The network connects the Williston Basin to KMI markets.
The G&P is backed by long-term contracts and commitments, Kinder Morgan said in its announcement. KMI said the acquisition has an adjusted EBITDA of about 8X on a full-year basis.
Kinder Morgan has been expanding its natural gas footprint nationwide. In December, the firm announced a $1.4 billion FID for the Mississippi Crossing Project, which increased its presence in the Southeast.
The Senate will hold hearings for President-elect Trump’s cabinet nominees this week in an effort to secure confirmations quickly after his inauguration. Today’s line-up includes former Rep. Doug Collins, who was tapped to be veterans affairs secretary, and Pete Hegseth, a former Fox News host and Army veteran who is Trump’s controversial pick to lead the Department of Defense. Among the high-profile choices who will also go before lawmakers this week are Sen. Marco Rubio for secretary of state, Florida Attorney General Pam Bondi to head the Justice Department, and South Dakota Gov. Kristi Noem for the Department of Homeland Security.
