Dow ends down almost 700 points as jobs report sparks jump in Treasury yields
The U.S. stock market ended sharply lower Friday, in...
The U.S. stock market ended sharply lower Friday, in a broad selloff that saw the Dow Jones Industrial Average fall almost 700 points.
The Dow Jones closed 1.6% lower, while the S&P 500 slumped 1.5% and the technology-heavy Nasdaq Composite dropped 1.6%, according to preliminary data from FactSet. All three indexes ended Friday with back-to-back weekly declines as investors weighed a jobs report that was hotter than Wall Street anticipated.
In the bond market, Treasury yields rose Friday after a stronger-than-expected employment report. The yield on the 10-year Treasury note climbed Friday to 4.772%, the highest level since Nov. 1, 2023 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data.
For the week, the Dow fell 1.9%, the S&P 500 dropped 1.9% and the Nasdaq shed 2.3%, the preliminary data from FactSet showed.
Unemployment rate falls to 4.1% as U.S. economy’s job-creation streak continues
The U.S. added a bigger-than-expected 256,000 new jobs...
The U.S. added a bigger-than-expected 256,000 new jobs in December, but most of the increase was concentrated in just a few industries and there was little sign of reheating in a gradually cooling labor market. U.S. unemployment rate drops to 4.1% in December from 4.2%
Economists polled by The Wall Street Journal had forecast an increase of 155,000 new jobs in December.
Plains spends $725M to expand midstream capabilities
Plains All American Pipeline is building up its midstream presence in...
Plains All American Pipeline is building up its midstream presence in the Eagle Ford Shale, Permian Basin and Midcontinent region with three acquisitions worth around $725 million. The deals include EnCap Flatrock's Ironwood Midstream Energy, Medallion Midstream's Delaware Basin crude oil gathering assets and full ownership of Midway Pipeline.
America’s Offshore Energy Potential Takes a Blow
It's too bad -- for America's future energy security and potential...
It's too bad -- for America's future energy security and potential economic growth -- that at its 11th hour the Biden administration took an action that could hamper US oil and natural gas development in decades to come -- withdrawing 625 million coastal acres from future offshore leasing, defying American voters and energy realities in one fell swoop.Â
All five living US presidents—Biden, Trump, Obama, Bush, and Clinton—were...
All five living US presidents—Biden, Trump, Obama, Bush, and Clinton—were in attendance yesterday as Carter was remembered at the Washington National Cathedral before his coffin was flown to his hometown of Plains, Georgia, for a final private service and burial. Carter, who was president from 1977 to 1981, was celebrated for his humanitarian work and commitment to peace. “Today, many think he was from a bygone era,” Biden said during a eulogy. “But in reality, he saw well into the future.” Social media was abuzz after Presidents Obama and Trump were seen chatting for several minutes before the ceremony.
