U.S. stocks end mostly higher Monday, with Nasdaq leading gains
Of the major U.S. indexes, only the Dow Jones Industrial Average ($DJI)...
Of the major U.S. indexes, only the Dow Jones Industrial Average ($DJI) slid Monday, pulled down by names like Nike (NKE), Nvidia, and Goldman Sachs (GS). Nike has struggled most of the year thanks partly to strong competition and weakness in China, but Goldman Sachs' drop today diverged from what's been a roaring financial sector. Other big banks also faltered, perhaps a sign of profit taking after the election-related rally.
The small cap Russell 2000 (RUT) index, which dove Friday as Treasury yields ticked higher, barely got its head above water today despite a slight pullback in yields. The PHLX Semiconductor Index (SOX), however, managed a 1% gain today—despite Nvidia’stumble—after last week's sharp decline.
Sector-wise, energy led today with a 1.2% increase, due in part to a 3% rise in the price of WTI Crude Oil (/CL) following increased tensions in Ukraine. Crude remained below $70 per barrel, however, near the low end of its long-term range.
Here's where the major benchmarks ended:
The SPX was up 23.00 points (0.4%) to 5893.62; the Dow Jones Industrial Average® ($DJI) fell 55.39 points (0.1%) to 43,389.6; and the Nasdaq Composite®($COMP) was up 111.69 points (0.6%) to 18,791.81.
The 10-year Treasury note yield fell one basis point to 4.41%.
The US midstream industry is racing to expand storage capacity as liquefied...
The US midstream industry is racing to expand storage capacity as liquefied natural gas exports from the Gulf Coast are set to more than double by 2028, but balancing demand with economic viability remains a challenge. While major players like Williams and Enbridge are acquiring and upgrading facilities, new projects, including salt dome storage hubs in Texas and Louisiana, depend on customer commitments and targeted investments to move forward.
Vaulted Deep's CO2 removal solution gets $32M boost
Vaulted Deep, a US-based...
Vaulted Deep, a US-based climate tech startup, has secured $32 million in venture capital funding to expand its carbon removal business to Colorado and beyond. The company collects organic waste from municipal plants and livestock manure and uses oil industry techniques to inject it down wells.
Enbridge's Line 5 reroute secures first permits in Wisconsin
Enbridge has received initial...
Enbridge has received initial permits from Wisconsin's Department of Natural Resources for its Line 5 pipeline reroute project, drawing backlash from tribal leaders and environmental advocates. The construction permits impose over 200 conditions, including a Nov. 14, 2027, completion deadline, restrictions on drilling mud discharges and mandatory spill response.
Trump nominates oil and gas champion for energy secretary
The president-elect chose ...
The president-elect chose Chris Wright, the CEO of oil-field services company Liberty Energy, to serve as the next energy secretary. Wright is one of the pioneers of the American fracking revolution and has been an outspoken booster of fossil fuels, at one point renting out billboards to attack North Face for deciding not to do an apparel partnership with an oil and gas company. In a video post to LinkedIn last year, Wright said, “There is no climate crisis and we’re not in the midst of an energy transition either.” As the head of the Energy Department, he would not only oversee the country’s energy policy but also is responsible for maintaining the nuclear weapons stockpile and related infrastructure,
