U.S. stocks post worst month of 2024 ahead of Amazon earnings, Fed rate decision
U.S. stocks closed out April with a whimper as the three major benchmark...
U.S. stocks closed out April with a whimper as the three major benchmark indexes suffered their worst monthly percentage decline in 2024.
The Dow Jones Industrial Average was down 4.9% this month, posting its biggest monthly decline since September 2022. The S&P 500 and the Nasdaq Composite each slumped around 4.2% to record their first monthly drop since October, according to preliminary data from FactSet.
The Dow industrialswere off over 570 points, or 1.5%, to end near 37,815.
The S&P 500dropped around 80 points, or 1.6%, to finish near 5,035.
The Nasdaq Compositeslumped roughly 325 points, or 2%, ending at around 15,657.
Marathon Petroleum Q1 Earnings and Revenue Beat Estimates
Marathon Petroleum Corp (...
Marathon Petroleum Corp (NYSE: MPC) reported on Tuesday higher-than-expected earnings and revenues for the first quarter despite lower refining margins and profits compared to the same period last year.
Marathon Petroleum’s first-quarter net income came in at $937 million, or $2.58 per diluted share, one of the biggest U.S. refiners said Tuesday.
The earnings per share were slightly higher than the analyst consensus estimate of $2.54 compiled by The Wall Street Journal.
Total revenues of $33.2 billion were lower than the $35.1 billion revenues for the first quarter of 2023 but topped the consensus estimate of $32.01 billion.
Home prices in top U.S. cities at new all-time high: Case-Shiller
The numbers: Home prices in the 20 biggest U.S. metros...
The numbers: Home prices in the 20 biggest U.S. metros inched up to a new record high, as home-buying demand continued to outpace the availability of properties for sale.
The S&P CoreLogic Case-Shiller 20-city house price index rose 0.6% in February compared to the previous month. The 20-city and the national indexare at an all-time high. The national index also rose at the fastest annual pace since November 2022.
Home prices in the 20 major U.S. metro markets were up 7.3% in the 12 months ending in February. San Diego posted the biggest year-over-year home-price gains in February. Prices were up 11.4%.
A broader measure of home prices, the national index, rose 0.4% in February and also was up 6.4% over the past year. All numbers are seasonally adjusted.
US Secretary of State Antony Blinken urged Hamas yesterday to accept Israel's latest proposal for a temporary cease-fire in exchange for the release of some hostages. The proposal reportedly involves a two-part plan, with Israel seeking the initial release of 33 of the roughly 130 hostages remaining in Hamas' captivity (down from an original demand of 40).
Blinken's comments came on his visit to Saudi Arabia—the first stop on his latest Middle East trip over truce talks—as a Hamas delegation met with Egyptian mediators in Cairo. Hamas previously said it seeks a full end to the war with Israel and the removal of Israeli troops from Gaza in exchange for the release of all hostages.
Diamondback Stockholders All in for $26B Endeavor Deal
Diamondback Energy’s shareholders have spoken, approving the $26 billion...
Diamondback Energy’s shareholders have spoken, approving the $26 billion merger with Endeavor Energy Resources LP that will add 344,000 net Midland Basin acres and about 2,300 core drilling locations.
Pro forma, Diamondback’s oil production will grow to an average 468,000 bbl/d (816,000 boe/d) from 273,000 bbl/d (463,000 boe/d). Analysts at Stifel have said the combined company will have a market value of more than $50 billion.
Diamondback said its stockholders approved the issuance of shares of Diamondback common stock in connection with the Endeavor merger, according to an April 26 press release.
