Dow finishes over 500 points lower while small-cap stocks retreat after surge
Stocks ended lower overall, with the blue-chip Dow and small-caps bearing...
Stocks ended lower overall, with the blue-chip Dow and small-caps bearing the brunt of the selling as equities saw overall declines.
Ten of the S&P 500's 11 sectors lost ground, with energy the lone holdout, up 0.3%. Tech stocks have retreated sharply in recent sessions, with investors streaming into previously left-behind areas of the market. That rotation wasn't in evidence Thursday as the market saw broad declines.
The Dow Jones Industrial Average ended with a loss of around 533 points, or 1.3%, near 40,665, after finishing at a record on Wednesday.
Government subsidies and strong investments put the US on track to increase its carbon capture capabilities by a factor of seven to 164 million tons per year by 2035, solidifying its global leadership, according to BloombergNEF. However, political uncertainty and delayed tax credit guidance have slowed the rate of expansion, with only 6 million tons of new CO2 capturing capacity proposed in the last six months.
LNG and natural gas prices in the EU are reportedly expected to weaken...
LNG and natural gas prices in the EU are reportedly expected to weaken as storage sites reach full capacity during the third quarter. However, the price decline may be constrained by a tight LNG market and the sensitivity of the European gas system to supply disruptions from Norway and the US, sources said.
Dems delay nomination plan amid calls for Biden to step aside
The Democratic National Committee said it would stick with its planned ...
The Democratic National Committee said it would stick with its planned virtual roll call to officially make President Joe Biden the nominee in advance of the party’s convention. But, rather than beginning the virtual vote as soon as next week as originally planned, it won’t start before Aug. 1. The new timeline gives donors and lawmakers concerned about Biden’s ability to beat Republican nominee Donald Trump more time to make their case. Yesterday, Rep. Adam Schiff urged Biden to drop out of the race, making the California Democrat, who’s running for Senate, one of the most high-profile party members to do so.
According to US Energy Information Administration data, US crude oil...
According to US Energy Information Administration data, US crude oil inventories for the week ended July 12, excluding the Strategic Petroleum Reserve, decreased by 4.9 million bbl from the previous week.
The EIA report indicated that US crude oil inventories are about 5% below the 5-year average for this time of year at 440.2 million bbl.
