U.S. stocks rebound from Wednesday's dip, close on strong gains
The three major U.S. stock market indexes all closed...
The three major U.S. stock market indexes all closed higher on Thursday.
Stocks trended generally higher throughout the day. However, they pulled back slightly from session highs in the final minutes of trading.
Investors reacted as corporate earnings continued to roll in, and as U.S. trade tensions seemed to ease. The White House revealed that President Donald Trump has a meeting with Chinese President Xi Jinping scheduled for next week.
The indexes traded near record levels on Thursday but couldn't surpass the highs set earlier this month. The S&P 500 clocked in its third-highest close in history.
The Dow Jones Industrial Average closed at 46,734.61, up around 0.3%.
The S&P 500 closed at 6,738.44, about 0.6% higher.
The Nasdaq Composite closed at 22,941.80, about 0.9% higher
Russian Drones Pound Ukraine as Trump Slaps Sanctions on Rosneft and Lukoil
Russian drones attacked the Ukrainian capital for the second night in...
Russian drones attacked the Ukrainian capital for the second night in a row on October 22, injuring four people, officials said within hours of an announcement from Washington imposing sanctions on Russia’s two largest oil companies. Tymur Tkachenko, head of Kyiv's military administration, said drones had damaged several dwellings and other buildings.
Air assaults the night before struck throughout the country, killing at seven people and causing power outages. One of the attacks hit a kindergarten in Kharkiv and another hit an apartment building in Zaporizhzhya.
The US Treasury Department announced the sanctions on Rosneft and Lukoil after the European Union unveiled a fresh wave of sanctions earlier on October 22. Both actions were aimed at pressuring Russia to end its full-scale invasion of its neighbor.
“Today is a very big day in terms of what we’re doing. These are tremendous sanctions. These are very big -- against their two big oil companies. And we hope they won’t be on for long. We hope that the war will be settled,” US President Donald Trump said.
JERA Expands U.S. Footprint With $1.5 Billion Haynesville Shale Acquisition
JERA Co. Inc., Japan’s largest...
JERA Co. Inc., Japan’s largest power generation company, announced plans to acquire full ownership of the South Mansfield shale gas asset in Louisiana’s Haynesville Basin through its U.S. subsidiary JERA Americas Inc., in a $1.5 billion deal with Williams and GEP Haynesville II. The acquisition underscores JERA’s growing role in the U.S. energy sector and strengthens its global LNG value chain.
The Haynesville acquisition includes assets currently producing more than 500 million cubic feet of gas per day (MMscfd) across 210 square kilometers, with 200 undeveloped drilling locations and established infrastructure for gathering and transportation. JERA plans to double total output to 1 billion cubic feet per day (Bscfd) through future investments, leveraging the asset’s proximity to the Gulf Coast’s LNG terminals and data center markets.
Founded in 2015 as a joint venture between Tokyo Electric Power and Chubu Electric Power, JERA now supplies roughly one-third of Japan’s electricity. The company has pledged to achieve net-zero CO2 emissions across its global operations by 2050.
The federal government shutdown enters its 23rd day today,...
The federal government shutdown enters its 23rd day today, after becoming the second-longest funding lapse in modern history, eclipsing the 1995-96 shutdown during the Clinton administration.
The holdup continues to be over healthcare. The House last month passed a seven-week bill extending government funding at its current levels. Democrats seek an extension of COVID-era subsidies for healthcare plans, otherwise set to expire Dec. 31. More than 24 million people in the US are insured through the programs, with nearly 4 million expected to lose coverage if costs increase next year. Federal subsidies cost an estimated $1.8T in 2023, roughly 7% of the US’ gross domestic product.
The Senate failed to pass the House bill yesterday for the twelfth time. Tomorrow, federal workers will miss their first full paychecks; hundreds of thousands of employees received partial paychecks on Oct. 10.
The good news for Tesla: It sold a record number of cars last quarter as customers raced to get new EVs ahead of the expiration of a government tax credit, pushing its revenue up 12% from the same time last year to $28 billion. The bad news: Its costs soared too, leaving its profit 37% down compared to a year earlier. Nonetheless, Elon Musk looked toward the future, stressing to investors that he expects to build AI, humanoid robots, and fully self-driving cars. And despite the profit setback, Musk stressed that he should still get a new pay package that would give him $1 trillion and more control of the company, saying, “I don’t feel comfortable building that robot army if I don’t have, at least, influence over it.”
