Stocks end mixed after Powell dispels Fed rate hike despite persistent inflation
U.S. stocks finished mostly lower on Wednesday after Federal Reserve...
U.S. stocks finished mostly lower on Wednesday after Federal Reserve officials cited a lack of progress in getting inflation back to 2% and indicated they would remain highly attentive to the risks of price gains.
The Dow Jones Industrial Average rose 87.37 points, or 0.2%, to 37,903.29, based on preliminary data. It had briefly jumped by as much as 533.28 points, putting it on track at one point for its best day in more than a month.
The S&P 500slipped 17.30 points, or 0.3%, to 5,018.39.
The Nasdaq Compositefell 52.34 points, or 0.3%, to 15,605.48.
"While markets had, once upon a time, expected rate cuts to commence as early as this spring, persistent upside inflation surprises through early 2024 have caused the Fed to delay the start of an easing cycle,'' said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia.
Earthquakes continue to shake up West Texas, seemingly moving around...
Earthquakes continue to shake up West Texas, seemingly moving around the region. After last week’s swarm of earthquakes around the border of Loving and Winkler Counties, Martin County was the site of two earthquakes in the early morning hours of Tuesday – the first a 3.4 magnitude and the second a 3.1 magnitude, both west-southwest of Ackerly. A few hours later, a 2.6 magnitude earthquake occurred south-southwest of Westbrook in Mitchell County.
A spokeswoman for the Railroad Commission told the Reporter-Telegram by email the agency has sent inspectors to the Winkler County-Loving County area to assess the situation and the investigation is ongoing.
The Public Utility Fund of Texas has completed its work on rules for...
The Public Utility Fund of Texas has completed its work on rules for the Texas Energy Fund, which will be backed by taxpayers and will provide reimbursements to natural gas power plants of 10% for those completed by June 1, 2026, and 6.7% for those completed by June 1, 2029. Applications will open on Jan. 1, 2025, with developers including NRG, Vistra and Calpine indicating they are likely to participate.
Companies including Continental Resources and Marathon Oil have been...
Companies including Continental Resources and Marathon Oil have been among those exploring deeper Woodford and Barnett Permian zones. These zones have untapped potential, but also carry risks such as higher drilling expenses and less predictability, say experts.
Dozens of New York City police officers entered Columbia University's...
Dozens of New York City police officers entered Columbia University's campus last night after student protesters overtook an administrative building earlier in the day. The students, who were arrested and led out of the building by police, are expected to face charges, including trespassing and criminal mischief. The development marks an escalation in campus tensions over the ongoing Israel-Hamas war.
Elsewhere, Portland State University closed its campus after student protesters broke into a school library, and the University of North Carolina at Chapel Hill canceled its classes. Arrests across universities continued; over 1,000 people have been arrested so far. See all updates here.
