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The U.S. announced Tuesday that it will tap its Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm this year’s rapid rise in fuel prices. The coordinated release by the U.S., India, China, Japan, South Korea and the U.K. is a first of its kind move. It’s came after OPEC and its allies rebuffed repeated requests from the U.S. and other nations to pump more to match demand. (CNBC)
* How the Build Back Better Act is giving high earners a one-year tax break (CNBC)
The Biden administration
Nov 24 (Reuters) – Australian shares inched lower on Wednesday, dragged down by technology and gold stocks, as rising Treasury yields sparked a panic selloff of the bullion and some big U.S. tech names.
The S&P/ASX 200 index (.AXJO) fell 0.2% to 7,395.1 by 0039 GMT. The benchmark index closed up 0.8% on Tuesday.
Gold stocks (.AXGD) fell 1.7% after the price of the safe-haven asset dropped to a near three-week low as the renomination of U.S. Federal Reserve Chair Jerome Powell fuelled bets of faster interest rate hikes.
Nov 23 (Reuters) – The Nasdaq lagged its Wall Street peers on Tuesday as rising Treasury yields weighed on major technology stocks, while gains in banks and energy helped limit losses in the S&P 500 and
Stocks ended Friday’s session weighed by growing concerns over nationwide COVID-19 lockdowns in Europe that raised fears about new restrictions beyond the continent, which pressured blue chip stocks, oil and the broader market.
The Dow slid 200 points, or 0.6%, settling at its lowest levels in 3 weeks and down1% on the week, while the S&P 500 notched a slim daily gain. However, the Nasdaq Composite set a fresh record, bolstered by rallying technology shares.
Markets were unsettled after the Austrian government announced a full lockdown starting on Monday, in response to cases of COVID-19 surging in Europe. The lockdown
Nov 12 (Reuters) – U.S. stock indexes opened higher on Friday, as Johnson & Johnson and big technology stocks led gains at the end of a week scarred by deepening concerns over prolonged inflation.
The Dow Jones Industrial Average (.DJI) rose 42.55 points, or 0.12%, at the open to 35,963.78.
The S&P 500 (.SPX) opened higher by 5.97 points, or 0.13%, at 4,655.24, while the Nasdaq Composite (.IXIC) gained 48.34 points, or 0.31%, to 15,752.62 at the opening
NEW YORK, Nov 12 (Reuters) – Wall Street gained on Friday with market-leading growth stocks helping the indexes resume their climb as investors shrugged off disappointing economic data.
While the three major U.S. stock indexes were solidly higher,
By Geoffrey Smith
Investing.com — U.S. stock markets opened mixed on Friday, with the S&P edging to a new all-time high, but with some big-name technology stocks lagging after flashing warning signs in their quarterly updates.
By 9:40 AM ET (1340 GMT), the S&P 500 was up 4 points, or 0.1%, at 4,554 points, while the Dow Jones Industrial Average was up 118 points, or 0.3%. By contrast, the NASDAQ Composite was down 0.2%, as poor results from Intel (NASDAQ:INTC) and Snap (NYSE:SNAP) weighed on a technology sector whose valuation doesn’t allow for disappointments.
Snap stock fell 21% after revealing
* Energy, material stocks boosted by commodity rally
* Southwest falls on canceling many flights
* Big banks set to start reporting from Wednesday
* Indexes up: Dow 0.43%, S&P 0.40%, Nasdaq 0.43% (Updates prices to open)
By Shreyashi Sanyal and Devik Jain
Oct 11 (Reuters) – U.S. stock indexes rose on Monday as growth stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week.
Mega-caps Apple Inc, Tesla Inc and Microsoft Corp rose between 0.6% and 1%, with eight of the 11 major S&P 500 sector indexes trading higher.
Alphabet Inc.’s deeper dive into the U.S. financial system shouldn’t come as much of a surprise. Technology giants have found a way into all corners of people’s lives; the latest plan to offer consumers new forms of bank accounts is simply one of the final frontiers.
The puzzling part of Alphabet’s expansion of Google Pay is why Citigroup Inc. is a willing participant in Silicon Valley’s invasion of Wall Street’s turf.
Last week, Bloomberg News and others reported that Citigroup and a California credit union were Alphabet’s initial partners for a venture that would offer checking accounts through Google Pay.
Oct 11 (Reuters) – U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week.
Mega-caps Apple Inc (AAPL.O), Tesla Inc (TSLA.O) and Microsoft Corp (MSFT.O)