US Gains in Push for Exception to EU Sanctions on Russian Oil

A US push to pare back one of the European Union’s sanctions on Russian oil has tentatively started to gain traction within the 27-member bloc, with officials weighing whether to allow insurers to cover shipments of Russian oil if the price the oil will sell for falls under a cap. After weeks of infighting, the … Read more

Dow, S&P 500 end lower after Powell says Fed is not trying to provoke a recession

US stock indexes closed lower in choppy trade Wednesday, after Federal Reserve Chairman Jerome Powell reiterated his commitment to combat inflation through higher interest rates, but said a recession could not be ruled out. President Joe Biden also called on a temporary gas-tax holiday and for ramped up US refinery activity to help offset high … Read more

Intel Corp. stock falls Wednesday, underperforms market

Shares of Intel Corp. INTC, -0.93% slid 0.93% to $ 37.38 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX, -0.13% falling 0.13% to 3,759.89 and Dow Jones Industrial Average DJIA, -0.15% falling 0.15% to 30,483.13. Intel Corp. closed $ 20.45 below its … Read more

Las Vegas Sands Corp. stock falls Wednesday, underperforms market

Shares of Las Vegas Sands Corp. LVS, -0.35% sank 0.35% to $ 31.60 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.13% falling 0.13% to 3,759.89 and Dow Jones Industrial Average DJIA, -0.15% falling 0.15% to 30,483.13. The stock’s fall snapped a … Read more

Freeport-McMoRan Inc. stock falls Wednesday, underperforms market

Shares of Freeport-McMoRan Inc. FCX, -7.96% slid 7.96% to $ 31.32 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.13% falling 0.13% to 3,759.89 and Dow Jones Industrial Average DJIA, -0.15% falling 0.15% to 30,483.13. Freeport-McMoRan Inc. closed $ 20.67 below its … Read more

Berkshire Hathaway Inc. Cl B stock falls Wednesday, underperforms market

Shares of Berkshire Hathaway Inc. Cl B BRK.B, -0.73% dropped 0.73% to $ 269.79 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.13% falling 0.13% to 3,759.89 and Dow Jones Industrial Average DJIA, -0.15% falling 0.15% to 30,483.13. Berkshire Hathaway Inc. Cl … Read more

Fed Paper Finds Elevated Probability of Recession

The US economy faces elevated risks of a recession over the next one to two years due to rising imbalances in markets for goods and services, including labor, according to a new research paper from a Federal Reserve economist. The paper finds slightly more than a 50% chance of a recession over the next four … Read more

Is the Stock Market Closed on Juneteenth?

US stock markets are closed to observe Juneteenth for the first time in history. The New York Stock Exchange and Nasdaq are shut today in observation of the newest federal holiday, adding it to the list of market holidays that also includes Thanksgiving Day and Christmas Day.

A Gas Tax Holiday From Reality

President Joe Biden calls for a federal gas tax holiday at the White House on June 22. Photo: KEVIN LAMARQUE / REUTERS Let’s call the roll on President Biden’s ideas to reduce high gasoline prices. He’s tried lobbying the Saudis, to no avail. Releasing oil from the US strategic reserve; the market yawned. Attacking oil … Read more