S&P, Nasdaq boosted by tech stocks. Netflix soars following results
S&P 500, Nasdaq and other technology stocks all gained on Friday. This was due to a surge in Netflix stock shares fueled by earnings and wider gains amongst technology stocks. The Dow Jones Industrial Average, which had just posted a record-breaking closing high the day before, was largely unchanged. Netflix shares jumped by 10.5%, reaching a new record high. The streaming giant exceeded Wall Street's estimates of subscriber growth and stated that it expects to continue growing through the end the year.
Russia is considering limiting metals exports to the West
In response to Western sanctions, Russian President Vladimir Putin suggested this week that Moscow limit exports of metals or other commodities in which Russia has a large share on global markets. Putin mentioned uranium and nickel as well as titanium, but suggested that other commodities could be restricted, pointing out that Russia is a major producer for natural gas, diamonds, and gold. Putin said that any restrictions do not have to be immediately implemented and they should not harm Russia.
Oil Slumps 7 Percent
Oil prices tumbled about 7 percent on Tuesday, with U.S. crude plunging to its lowest level in more than a year, caught in a broader Wall Street selloff that was fed by rising concerns about slowing global economic growth.U.S. West Texas Intermediate (WTI) crude futures were down $3.90, or 6.8 percent, at $53.30 per barrel by 2:01 p.m. EST (1901 GMT). The contract fell as much as 7.7 percent earlier in the session to $52.77 a barrel, the lowest since October 2017.So far in the session…
Oil Drops 4 pct as Equities Slide Sparks Demand Worries
Oil prices fell about 4 percent on Tuesday, with U.S. crude plunging to its lowest in over a year, caught up in Wall Street's broader selloff fed by growing concerns about slowing global growth.U.S. West Texas Intermediate (WTI) crude futures were at $54.72 per barrel, down $2.48, or 4.3 percent by 11:14 a.m. EST (1614 GMT). The contract fell as much as 6.2 percent earlier in the session to $53.63 a barrel, the lowest since October 2017.So far in the session, more than 585,000 U.S.
Growing U.S. Shale Activity Confounds OPEC
As oilfield workers for Lilis Energy Inc threaded together drill pipes one recent morning in the Permian Basin, a bulldozer cleared sagebrush to make way for the company's fifth well since January. Lilis aims to expand production sevenfold this year in America's most active oilfield. The whir of activity is all the more impressive after the small firm nearly collapsed in late 2015 - amid unrestrained production from the Organization of the Petroleum Exporting Countries (OPEC).
Stocks Battle Back on Oil Rebound
Oil rallies back above $30 a barrel after overnight drop. Markets went on another rollercoaster ride on Tuesday as hopes that big oil producers may start tightening supply drove crude oil prices higher and pulled stocks out of a worldwide dive that included a six-percent plunge in China. European shares were flat and Wall Street was expected to start firmer with the focus on a flurry of data and the first Federal Reserve meeting this year. After the torrid start to the year for markets…
Stocks, Oil Rally; Cold Snap Supports Energy Demand
Oil prices and world stock markets jumped on Friday, providing some relief to bruised investors as frigid weather across the United States and Europe boosted energy demand. Brent crude oil, which tumbled in recent weeks on worries about oversupply, settled 10 percent higher and above $32 a barrel in one of the biggest daily rallies ever. Traders cashing in short positions lifted prices along with the higher short-term demand. The benchmark S&P 500 U.S.
House Batteries Help the Grid & Consumers
Energy provider Ergon Retail is running a trial, with support from the Australian Renewable Energy Agency (ARENA), in 33 Queensland homes in Toowoomba in the south of the state and Townsville and Cannonvale in the north. In recent months, about 30 country householders have joined a pilot project that provides a glimpse of the future of our energy grid. For no up-front cost, these homes will get a state-of-the-art rooftop solar and battery system installed in their homes .
New Oil & Gas App for Training Records
Offshore workers will for the first time be able to access their training records at the touch of a button wherever they are in the world thanks to a new mobile application which launched November 19. Oil and gas skills organization OPITO has developed the free TRAIN-R mobile app so workers in any international location are better able to plan and track their OPITO training via an iPhone or iPad to ensure their safety and competency certification is always up to date.
