Markets

Dow soars 530 points as coronavirus treatment optimism overshadows GDP slump

US equities soared on Wednesday as traders gained new hope from a successful coronavirus drug trial. Gilead announced Wednesday morning its remdesivir compound succeeded in a key trial. Investors’ optimism toward the positive drug news overshadowed a 4.8% contraction in US GDP through the first quarter. Economists expected the metric […]
Dow soars 530 points as coronavirus treatment optimism overshadows GDP slump
Markets

Dow climbs 400 points as COVID-19 drug hopes outweigh economic pain

US equities soared on Wednesday as traders gained new hope from a successful coronavirus drug trial. Gilead announced Wednesday morning its remdesivir compound succeeded in a key trial. Additional information on the study will be released later in the day. Investors’ optimism toward the positive drug news overshadowed a 4.8% […]
Dow climbs 400 points as COVID-19 drug hopes outweigh economic pain
Markets

US stocks slide amid mega-cap tech weakness and earnings uncertainty

US stocks slid on Tuesday, dragged lower by mega-cap tech weakness, oil-market volatility, and uncertainty around earnings season. Adobe and Microsoft were among the biggest decliners among tech firms in the S&P 500. WTI crude oil tumbled as much as 21% before paring those losses to less than 1%. Read […]
US stocks slide amid mega-cap tech weakness and earnings uncertainty
Markets

Dow climbs for a 4th straight day as major economies move towards reopening

US equities surged on Monday, extending gains from Friday’s session as investors cheered economic reopening plans. New York Gov. Andrew Cuomo revealed the state’s gradual recovery plan on Sunday, issuing a positive signal for the US’s coronavirus hotspot. Oil missed out on the market upswing, sliding as much as 28% […]
Dow climbs for a 4th straight day as major economies move towards reopening
Markets

Dow tumbles 500 points as oil’s historic plunge worsens

US stocks slid further on Tuesday as oil continued to trade at negative levels. West Texas Intermediate contracts expiring in May traded as low as -$US16.74 a barrel on Tuesday. June contracts slipped as much as 42% to $US11.89 amid the turbulence. Stock futures erased some early gains after reports […]
Dow tumbles 500 points as oil’s historic plunge worsens
Markets

American oil output will overtake OPEC’s by 2024

OPEC’s World Oil Outlook for 2019 found that output will fall over the next five years, while America’s shale oil production will overtake that of the group. The Organisation of the Petroleum Exporting Countries’ supply has fallen in the last few years due to a pact with Russia, boosting oil […]
American oil output will overtake OPEC’s by 2024
News

China could be the biggest loser from the Saudi Arabia oil attack

Saudi Arabia’s oil production was slashed in half on Saturday during an attack on two of its main oil facilities. The attack wiped about 5% of the world’s daily production of crude oil, equal to about 5 million barrels. Yemen’s Houthi rebel group claimed responsibility for the attacks, though the […]
China could be the biggest loser from the Saudi Arabia oil attack
Markets

Oil surges to a fresh high as Middle East tensions spark violence

Oil jumps to a fresh three and a half year high as tensions in the Middle East continue to rise. Brent crude, the global oil benchmark, was up 0.4% to trade at $US77.66 per barrel. The price increases come after President Trump’s withdrawal from the Iran nuclear deal. Oil has […]
Oil surges to a fresh high as Middle East tensions spark violence
Markets

Chesapeake Energy jumps after beating quarterly earnings estimates

Chesapeake Energy‘s stock rose nearly 20% on Thursday after the company reported a strong earnings quarter. The company said that it would maintain its production levels from 2017 into 2018. Watch Chesapeake Energy’s stock move in real time here. Shares of Chesapeake Energy climbed nearly 20% on Thursday morning after […]
Chesapeake Energy jumps after beating quarterly earnings estimates
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