7 mins. ago
U.S. stocks fell Tuesday as the 10-year Treasury yield climbed above 5% for the first time since 2007, with investors awaiting a Federal Reserve interest-rate decision expected Wednesday.
The Dow Jones Industrial Average dropped roughly 449 points, or 0.86%. The S&P 500 fell about 0.34% and the Nasdaq Composite declined 0.48%. The 10-year Treasury yield rose as high as 5.041% before pulling back to trade around 5.011%.
Oil prices extended gains after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz. Brent crude futures for November delivery rose about 1.6% to trade above $107 a barrel, while West Texas Intermediate futures climbed to above $103.
Fed funds futures point to roughly a 90% to 93% probability that the Fed raises its benchmark rate by a quarter percentage point on Wednesday, which would lift the upper bound of the target range to 4%, according to The Wall Street Journal. That probability was roughly 59% a week ago.
Christopher Hodge, chief economist for the U.S. at Natixis CIB Americas, said in a note that he expects Fed Chair Kevin Warsh to signal the rate move is not a commitment to further hikes. "We also think that he will emphasize that this decision was discrete and does not pre-commit the Fed to any actions in subsequent meetings, giving him and the Committee maximum flexibility to respond to shocks," Hodge said, according to CNBC.
#rate
The Dow Jones Industrial Average dropped roughly 449 points, or 0.86%. The S&P 500 fell about 0.34% and the Nasdaq Composite declined 0.48%. The 10-year Treasury yield rose as high as 5.041% before pulling back to trade around 5.011%.
Oil prices extended gains after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz. Brent crude futures for November delivery rose about 1.6% to trade above $107 a barrel, while West Texas Intermediate futures climbed to above $103.
Fed funds futures point to roughly a 90% to 93% probability that the Fed raises its benchmark rate by a quarter percentage point on Wednesday, which would lift the upper bound of the target range to 4%, according to The Wall Street Journal. That probability was roughly 59% a week ago.
Christopher Hodge, chief economist for the U.S. at Natixis CIB Americas, said in a note that he expects Fed Chair Kevin Warsh to signal the rate move is not a commitment to further hikes. "We also think that he will emphasize that this decision was discrete and does not pre-commit the Fed to any actions in subsequent meetings, giving him and the Committee maximum flexibility to respond to shocks," Hodge said, according to CNBC.
#rate
29 mins. ago
What happened: The 10-year Treasury yield (^TNX) climbed as high as 5.04%, its highest level since 2007, on Tuesday. Meanwhile, the 30-year Treasury (^TYX) yield touched 5.39%.
What's behind the move: The move higher in yields comes ahead of the Federal Reserve's rate decision this week. Investors have priced in a 25 basis point rate hike following the Fed's FOMC meeting on Wednesday, with a 92% likelihood.
Bond yields remain high as oil prices (BZ=F, CL=F) have firmly moved above $100 per barrel, with no timeline for the reopening of the Strait of Hormuz, a critical oil passageway.
Higher energy costs have raised concerns that inflation will remain above the Fed's 2% target.
"At the same time, investors are insisting on being compensated for high levels of government debt and the ever-rising deficit," TradeNation senior market ***** yst David Morrison said.
#move #yields
What's behind the move: The move higher in yields comes ahead of the Federal Reserve's rate decision this week. Investors have priced in a 25 basis point rate hike following the Fed's FOMC meeting on Wednesday, with a 92% likelihood.
Bond yields remain high as oil prices (BZ=F, CL=F) have firmly moved above $100 per barrel, with no timeline for the reopening of the Strait of Hormuz, a critical oil passageway.
Higher energy costs have raised concerns that inflation will remain above the Fed's 2% target.
"At the same time, investors are insisting on being compensated for high levels of government debt and the ever-rising deficit," TradeNation senior market ***** yst David Morrison said.
#move #yields
1 hr. ago
The yuan-denominated crude oil futures trading in China hit this week their highest level since the contract was launched in 2018 as escalating threats to Middle East's oil supply and increased purchases by Chinese refiners push prices higher.
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#contract #east #saudi
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#contract #east #saudi
3 hours ago
Our ****** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
The oil crisis is leaking into other parts of the car. Costco, the land of big and cheap, flipped the script and doubled the price of its full-synthetic motor oil and started rationing purchases. As crude pushes toward $100 a barrel, a 10-quart case that cost roughly $30 now runs $57.99, with purchases capped at two units per member per week.
U.S. diesel crossed $6 a gallon for the first time this week, and global oil inventories have drawn down more than 500 million barrels since the U.S.-Iran conflict began. This is affecting the entire crude industrial complex.
Base oil, which is the feedstock for motor oil, comes from the same barrel as gasoline and diesel so when refiners can earn more finishing crude into fuel than into lubricants, lubricant stock gets squeezed first.
The pressure for Costco, however, is more intense: Its signature Kirkland oil carries GM's Dexos1 Gen 3 certification, which requires manufacturers to pay GM separately per product and per unit sold. As a result, and much against its brand ethos, changing your own oil with Kirkland product now costs roughly what an independent shop would charge, thus eroding the DIY savings case entirely.
#costco #Stock #roughly
The oil crisis is leaking into other parts of the car. Costco, the land of big and cheap, flipped the script and doubled the price of its full-synthetic motor oil and started rationing purchases. As crude pushes toward $100 a barrel, a 10-quart case that cost roughly $30 now runs $57.99, with purchases capped at two units per member per week.
U.S. diesel crossed $6 a gallon for the first time this week, and global oil inventories have drawn down more than 500 million barrels since the U.S.-Iran conflict began. This is affecting the entire crude industrial complex.
Base oil, which is the feedstock for motor oil, comes from the same barrel as gasoline and diesel so when refiners can earn more finishing crude into fuel than into lubricants, lubricant stock gets squeezed first.
The pressure for Costco, however, is more intense: Its signature Kirkland oil carries GM's Dexos1 Gen 3 certification, which requires manufacturers to pay GM separately per product and per unit sold. As a result, and much against its brand ethos, changing your own oil with Kirkland product now costs roughly what an independent shop would charge, thus eroding the DIY savings case entirely.
#costco #Stock #roughly
3 hours ago
Marathon Petroleum (MPC) exhibits strong technical momentum, recently hitting a new all-time high.
Shares are up more than 120% over the past year.
MPC maintains a 100% "Buy" technical opinion from Barchart.
Future performance is highly sensitive to refining margins and oil prices, with downside risk if oil drops to $75 per barrel.
Valued at $116 billion, Marathon Petroleum (MPC) is a leading independent refiner, transporter, and marketer of petroleum products. The company came into existence following the spinoff from Marathon Oil Corporation's refining and sales business into a separate, independent and publicly traded entity. Marathon Oil completed the acquisition of its rival Andeavor. Marathon Petroleum operates in two segments: refining and marketing and pipeline transportation.
#marathon #future
Shares are up more than 120% over the past year.
MPC maintains a 100% "Buy" technical opinion from Barchart.
Future performance is highly sensitive to refining margins and oil prices, with downside risk if oil drops to $75 per barrel.
Valued at $116 billion, Marathon Petroleum (MPC) is a leading independent refiner, transporter, and marketer of petroleum products. The company came into existence following the spinoff from Marathon Oil Corporation's refining and sales business into a separate, independent and publicly traded entity. Marathon Oil completed the acquisition of its rival Andeavor. Marathon Petroleum operates in two segments: refining and marketing and pipeline transportation.
#marathon #future
4 hours ago
Good morning. Stocks fell on Tuesday as oil prices stayed solidly above $100 per barrel ahead of the Federal Reserve's key policy meeting this week.
Brent crude futures (BZ=F) rose to $105 per barrel, raising concerns about persistent inflation.
The 10-year Treasury (^TNX) rose as high as 5.04%, its highest level since 2007, after breaching the 5% threshold on Monday.
Investors expect Fed policymakers to raise rates on Wednesday following their two-day policy meeting.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
#meeting #brent
Brent crude futures (BZ=F) rose to $105 per barrel, raising concerns about persistent inflation.
The 10-year Treasury (^TNX) rose as high as 5.04%, its highest level since 2007, after breaching the 5% threshold on Monday.
Investors expect Fed policymakers to raise rates on Wednesday following their two-day policy meeting.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
#meeting #brent
5 hours ago
The yuan-denominated crude oil futures trading in China hit this week their highest level since the contract was launched in 2018 as escalating threats to Middle East's oil supply and increased purchases by Chinese refiners push prices higher.
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#crude #futures #middle #saudi
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#crude #futures #middle #saudi
10 hours ago
US stocks mostly rose on Wednesday morning ahead of the Federal Reserve's decision on whether to hike interest rates for the first time in three years.
The Dow Jones Industrial Average (^DJI) dipped below the flat line, while the S&P 500 (^GSPC) rose 0.2%. The Nasdaq Composite (^IXIC) gained 0.4%
Stocks searched for gains after ending Tuesday's session lower. A bond sell-off that has pushed the 10-year yield (^TNX) to its highest level since the financial crisis weighed on stock sentiment.
Crypto prices tumbled, meanwhile, after the Senate failed to pass a key procedural vote for a regulatory framework for digital ****** ets, known as the Clarity Act. Bitcoin's price (BTC-USD) dropped below $76,000.
At the same time, rising oil prices have contributed to worries that inflation will remain stubbornly high. Despite a pause in crude oil's rally, benchmark Brent (BZ=F) and WTI (CL=F) futures remain above $100 per barrel.
#stocks #time #below #federal
The Dow Jones Industrial Average (^DJI) dipped below the flat line, while the S&P 500 (^GSPC) rose 0.2%. The Nasdaq Composite (^IXIC) gained 0.4%
Stocks searched for gains after ending Tuesday's session lower. A bond sell-off that has pushed the 10-year yield (^TNX) to its highest level since the financial crisis weighed on stock sentiment.
Crypto prices tumbled, meanwhile, after the Senate failed to pass a key procedural vote for a regulatory framework for digital ****** ets, known as the Clarity Act. Bitcoin's price (BTC-USD) dropped below $76,000.
At the same time, rising oil prices have contributed to worries that inflation will remain stubbornly high. Despite a pause in crude oil's rally, benchmark Brent (BZ=F) and WTI (CL=F) futures remain above $100 per barrel.
#stocks #time #below #federal
11 hours ago
XLE has surged 46% year-to-date while XLY dropped 7%, with defensive XLP up 9% as markets rotate away from consumer exposure.
XLF's soft 4% gain signals financial stocks aren't pricing a healthy cycle, with the 10-year/2-year Treasury spread flattened to 0.33%.
Torres pegs $120 WTI as the consumer spending breaking point, still 20% above current prices but reminiscent of 2022's economy-crushing oil surge.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
The national average price of regular gasoline jumped 16 cents in a single week to $4.32 a gallon on September 14, 2026, a move that puts the pump price in the 90th percentile of the past year and caps a 7.8% jump in one month. The proximate cause sits upstream: WTI crude cleared $97.26 a barrel on September 9 after running up 16.1% in a month, and Brent has traded through the $100 line. On Fed decision day, a CNBC Morning Call panel put a number on where this stops being an inconvenience and starts being a recession.
#Consumer #torres
XLF's soft 4% gain signals financial stocks aren't pricing a healthy cycle, with the 10-year/2-year Treasury spread flattened to 0.33%.
Torres pegs $120 WTI as the consumer spending breaking point, still 20% above current prices but reminiscent of 2022's economy-crushing oil surge.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
The national average price of regular gasoline jumped 16 cents in a single week to $4.32 a gallon on September 14, 2026, a move that puts the pump price in the 90th percentile of the past year and caps a 7.8% jump in one month. The proximate cause sits upstream: WTI crude cleared $97.26 a barrel on September 9 after running up 16.1% in a month, and Brent has traded through the $100 line. On Fed decision day, a CNBC Morning Call panel put a number on where this stops being an inconvenience and starts being a recession.
#Consumer #torres
12 hours ago
Good morning. Stocks were mixed on Wednesday as oil prices eased but stayed solidly above $100 per barrel ahead of the Federal Reserve's key interest rate decision due this afternoon.
Brent crude futures (BZ=F) dropped to $107 per barrel, and the 10-year Treasury (^TNX) fell below 5%.
Investors overwhelmingly expect the Fed to raise rates by 25 basis points on Wednesday following its two-day policy meeting.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
Tech stocks (XLK) gained as shares of chip heavyweight (NVDA) rose more than 1%. SK Hynix (SKHY) stock also jumped 3% following a report that the memory maker is exploring a deal with Intel (INTC).
#treasury #finance
Brent crude futures (BZ=F) dropped to $107 per barrel, and the 10-year Treasury (^TNX) fell below 5%.
Investors overwhelmingly expect the Fed to raise rates by 25 basis points on Wednesday following its two-day policy meeting.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
Tech stocks (XLK) gained as shares of chip heavyweight (NVDA) rose more than 1%. SK Hynix (SKHY) stock also jumped 3% following a report that the memory maker is exploring a deal with Intel (INTC).
#treasury #finance
13 hours ago
The Federal Reserve is expected to raise its benchmark interest rate by a quarter percentage point at its meeting Wednesday, which would mark the first increase since July 2023, according to CNBC. CME Group's FedWatch tool showed traders placing odds above 90% on a hike, an outcome that would set the federal funds rate target range at 3.75%–4%.
That would follow a period in which the FOMC reduced rates on six separate occasions totaling 175 basis points from July 2023 through early 2026, according to CNBC. Since then, a string of discouraging inflation readings, a firm labor market, and crude oil prices rising back above $100 a barrel — driven by the conflict involving Iran — have shifted the calculus toward tightening.
Fed Chair Kevin Warsh's remarks at the Fed's annual Jackson Hole symposium helped accelerate that shift, according to CNBC. As recently as a month ago, futures markets put the probability of a hike at only 36%.
The path to Wednesday's expected decision reflects a committee that had been moving in a hawkish direction for months. At the June meeting — Fed Chair Kevin Warsh's first — the committee voted 12–0 to hold rates steady, but the Fed released projections showing nine of 18 officials favored at least one rate hike before year-end. Consumer prices had risen 4.2% year-over-year in May, a three-year high. Warsh said at the time that the Fed's commitment to bringing down inflation was "strong, unanimous, and unambiguous."
Minutes from the July meeting, when the committee held rates steady on a fractured 9–3 vote, showed hawkish sentiment extended beyond the three dissenting regional bank presidents who had pushed for an immediate increase. The minutes indicated that "some policy firming would likely be warranted" if inflation remained persistent, driven by factors including AI-fueled demand, Middle East energy disruptions, or tariff pass-through.
#cnbc #hike #rates #inflation
That would follow a period in which the FOMC reduced rates on six separate occasions totaling 175 basis points from July 2023 through early 2026, according to CNBC. Since then, a string of discouraging inflation readings, a firm labor market, and crude oil prices rising back above $100 a barrel — driven by the conflict involving Iran — have shifted the calculus toward tightening.
Fed Chair Kevin Warsh's remarks at the Fed's annual Jackson Hole symposium helped accelerate that shift, according to CNBC. As recently as a month ago, futures markets put the probability of a hike at only 36%.
The path to Wednesday's expected decision reflects a committee that had been moving in a hawkish direction for months. At the June meeting — Fed Chair Kevin Warsh's first — the committee voted 12–0 to hold rates steady, but the Fed released projections showing nine of 18 officials favored at least one rate hike before year-end. Consumer prices had risen 4.2% year-over-year in May, a three-year high. Warsh said at the time that the Fed's commitment to bringing down inflation was "strong, unanimous, and unambiguous."
Minutes from the July meeting, when the committee held rates steady on a fractured 9–3 vote, showed hawkish sentiment extended beyond the three dissenting regional bank presidents who had pushed for an immediate increase. The minutes indicated that "some policy firming would likely be warranted" if inflation remained persistent, driven by factors including AI-fueled demand, Middle East energy disruptions, or tariff pass-through.
#cnbc #hike #rates #inflation
14 hours ago
US stocks rose modestly on Wednesday morning ahead of the Federal Reserve's decision on whether to hike interest rates for the first time in three years.
Futures on the Dow Jones Industrial Average (YM=F) edged up 0.1%; the S&P 500 (ES=F) rose 0.2%, and the Nasdaq-100 (NQ=F) gained 0.4% in premarket trading.
Stocks searched for gains after ending Tuesday's session lower. A bond sell-off that has pushed the 10-year yield (^TNX) to its highest level since the financial crisis weighed on stock sentiment.
Crypto prices tumbled, meanwhile, after the Senate failed to pass a key procedural vote for a regulatory framework for digital ***** ets, known as the Clarity Act. Bitcoin's price (BTC-USD) dropped 2% to the $75,000 level.
At the same time, rising oil prices have contributed to worries that inflation will remain stubbornly high. Despite a pause in crude oil's rally, benchmark Brent (BZ=F) and WTI (CL=F) futures remain above $100 per barrel.
#prices #wednesday #jones
Futures on the Dow Jones Industrial Average (YM=F) edged up 0.1%; the S&P 500 (ES=F) rose 0.2%, and the Nasdaq-100 (NQ=F) gained 0.4% in premarket trading.
Stocks searched for gains after ending Tuesday's session lower. A bond sell-off that has pushed the 10-year yield (^TNX) to its highest level since the financial crisis weighed on stock sentiment.
Crypto prices tumbled, meanwhile, after the Senate failed to pass a key procedural vote for a regulatory framework for digital ***** ets, known as the Clarity Act. Bitcoin's price (BTC-USD) dropped 2% to the $75,000 level.
At the same time, rising oil prices have contributed to worries that inflation will remain stubbornly high. Despite a pause in crude oil's rally, benchmark Brent (BZ=F) and WTI (CL=F) futures remain above $100 per barrel.
#prices #wednesday #jones
15 hours ago
CAIRO (AP) — Saudi Arabia accused Yemen's Iran-backed Houthi rebels overnight of trying to attack Islam's holiest city, prompting condemnation from countries in the region but no sign of military support. The kingdom, a key U.S. ally, declared Mecca a "red line" as it slid deeper into the new front of the Iran war.
With the world's biggest oil exporter under fire from the rebels backed by the Saudis' regional adversary, Tehran, the kingdom needs a safe outlet for its crude as well as military ******* istance. A path to either one remains unclear.
A crucial Saudi pipeline has reportedly been shut down for weeks after an attack by Iranian-backed militias in Iraq. The Yemen-based Houthis have been targeting infrastructure in the kingdom as well as its shipping on the Red Sea, where they have seized several islands on the Bab el-Mandeb Strait. And Iran is still targeting ships in the Strait of Hormuz. Oil prices remain above $100 a barrel.
The Houthis denied firing drones toward Mecca, about 1,100 kilometers (680 miles) from Yemen's border. The Saudis said they intercepted and destroyed the drone before it entered the airspace over the birthplace of the Prophet Muhammad.
The attacks are the first test of a new defense pact among Saudi Arabia, NATO member Turkey and nuclear power Pakistan. But officials from Turkey and Pakistan told The ******* ociated Press they have not received a Saudi request for support in response to the Houthis' escalation.
#arabia #saudis #turkey
With the world's biggest oil exporter under fire from the rebels backed by the Saudis' regional adversary, Tehran, the kingdom needs a safe outlet for its crude as well as military ******* istance. A path to either one remains unclear.
A crucial Saudi pipeline has reportedly been shut down for weeks after an attack by Iranian-backed militias in Iraq. The Yemen-based Houthis have been targeting infrastructure in the kingdom as well as its shipping on the Red Sea, where they have seized several islands on the Bab el-Mandeb Strait. And Iran is still targeting ships in the Strait of Hormuz. Oil prices remain above $100 a barrel.
The Houthis denied firing drones toward Mecca, about 1,100 kilometers (680 miles) from Yemen's border. The Saudis said they intercepted and destroyed the drone before it entered the airspace over the birthplace of the Prophet Muhammad.
The attacks are the first test of a new defense pact among Saudi Arabia, NATO member Turkey and nuclear power Pakistan. But officials from Turkey and Pakistan told The ******* ociated Press they have not received a Saudi request for support in response to the Houthis' escalation.
#arabia #saudis #turkey
2 days ago
Oil prices (BZ=F, CL=F) are solidly back over the $100 per barrel mark. The August payrolls report showed the US economy added three times as many jobs as expected. Consumer pricing data showed "core" pricing ticking up faster than expected.
In other words, the case has grown increasingly strong for the Federal Reserve to issue its first rate hike in three years on Wednesday, as markets price in roughly a 90% probability of a quarter-point hike.
If equity market performance remains true to historical precedent, that could spell an upcoming trough for stocks, Goldman Sachs **** ysts led by Ben Snider wrote over the weekend.
Looking at history, the benchmark S&P 500 (^GSPC) index has seen an average three-month return of negative 2% at the start of a Fed hiking cycle throughout the past few decades, Goldman noted over the weekend.
That's primarily for three reasons.
#goldman
In other words, the case has grown increasingly strong for the Federal Reserve to issue its first rate hike in three years on Wednesday, as markets price in roughly a 90% probability of a quarter-point hike.
If equity market performance remains true to historical precedent, that could spell an upcoming trough for stocks, Goldman Sachs **** ysts led by Ben Snider wrote over the weekend.
Looking at history, the benchmark S&P 500 (^GSPC) index has seen an average three-month return of negative 2% at the start of a Fed hiking cycle throughout the past few decades, Goldman noted over the weekend.
That's primarily for three reasons.
#goldman
2 days ago
TotalEnergies SE (NYSE:TTE) plans to invest $10 billion alongside its partners in Angola over the next five years, with the goal of maintaining and potentially increasing its oil production in the country. TotalEnergies currently produces around 450,000 barrels per day in Angola, making it the country's largest oil operator and accounting for more than 40% of its total output.
The investment will go toward existing operations, new exploration, and projects aimed at replacing production from Angola's aging offshore fields. One of the biggest projects in the pipeline is the $6 billion Kaminho development, which is expected to start producing oil in 2028. TotalEnergies SE (NYSE:TTE) is also expanding its exploration efforts after signing agreements for two additional offshore blocks. On top of that, the company recently announced a new discovery in Block 17 that could add roughly 6,000 barrels per day to production.
The investment strengthens TotalEnergies SE (NYSE:TTE)'s position in one of Africa's key oil-producing markets and, perhaps more importantly, helps protect a major source of existing production. With around 450,000 barrels per day already coming from Angola, simply keeping output at current levels could continue to provide a meaningful contribution to the company's upstream cash flow. Any additional production from new discoveries and projects would offer further upside.
The current oil-price environment also works in TotalEnergies' favor. Brent crude recently climbed above $100 a barrel amid supply concerns and geopolitical tensions and is currently trading near this range. If prices remain elevated, projects designed to maintain or increase Angolan production could generate strong returns and make the company's investment more attractive.
There are also signs that TotalEnergies SE (NYSE:TTE) is doing more than just trying to slow production declines. Its recent Acacia-5 discovery in Block 17 could add around 6,000 barrels per day, while the company is expanding its exploration presence through new offshore blocks in the Lower Congo Basin. Angola's efforts to reform its oil sector and attract more exploration investment could also create a more favorable environment for TotalEnergies over the longer term.
#investment #offshore
The investment will go toward existing operations, new exploration, and projects aimed at replacing production from Angola's aging offshore fields. One of the biggest projects in the pipeline is the $6 billion Kaminho development, which is expected to start producing oil in 2028. TotalEnergies SE (NYSE:TTE) is also expanding its exploration efforts after signing agreements for two additional offshore blocks. On top of that, the company recently announced a new discovery in Block 17 that could add roughly 6,000 barrels per day to production.
The investment strengthens TotalEnergies SE (NYSE:TTE)'s position in one of Africa's key oil-producing markets and, perhaps more importantly, helps protect a major source of existing production. With around 450,000 barrels per day already coming from Angola, simply keeping output at current levels could continue to provide a meaningful contribution to the company's upstream cash flow. Any additional production from new discoveries and projects would offer further upside.
The current oil-price environment also works in TotalEnergies' favor. Brent crude recently climbed above $100 a barrel amid supply concerns and geopolitical tensions and is currently trading near this range. If prices remain elevated, projects designed to maintain or increase Angolan production could generate strong returns and make the company's investment more attractive.
There are also signs that TotalEnergies SE (NYSE:TTE) is doing more than just trying to slow production declines. Its recent Acacia-5 discovery in Block 17 could add around 6,000 barrels per day, while the company is expanding its exploration presence through new offshore blocks in the Lower Congo Basin. Angola's efforts to reform its oil sector and attract more exploration investment could also create a more favorable environment for TotalEnergies over the longer term.
#investment #offshore
2 days ago
Enbridge Inc. (NYSE:ENB) has agreed to buy Blackstone-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its presence in the U.S. liquids pipeline market. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline, a 51% interest in the Powder River Gateway system, around 8.4 million barrels of storage capacity and crude marketing operations.
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
2 days ago
What happened: The 10-year Treasury yield (^TNX) climbed past the 5% threshold on Monday for the first time since October 2023. Meanwhile, the 30-year Treasury (^TYX) yield hovered at 5.38%.
What's behind the move: Bond yields continued their ascent as Brent crude climbed to $108 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.
Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print.
"The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night.
Some strategists believe long-dated bond yields may ease if the Fed hikes rates at its Sept. 15-16 meeting.
#inflation #goldman #bond #year
What's behind the move: Bond yields continued their ascent as Brent crude climbed to $108 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.
Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print.
"The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night.
Some strategists believe long-dated bond yields may ease if the Fed hikes rates at its Sept. 15-16 meeting.
#inflation #goldman #bond #year
3 days ago
U.S. stocks fell Monday as calls from major AI company leaders to slow development of the technology rattled chip stocks, while surging oil prices added to pressure on equities.
The S&P 500 shed 0.7%, the Nasdaq Composite gave back 1.2%, and the Dow Jones Industrial Average finished 140 points lower, a decline of 0.3%.
Anthropic CEO Dario Amodei argued in an essay Saturday that AI companies need to reduce the pace of innovation on their most capable models due to safety risks. Amodei told CBS News on Sunday that the "toughest dilemma" posed by any such proposal involves the question of whether China would agree to do the same. OpenAI CEO Sam Altman said in a separate Saturday interview that an IPO this year would be "ill-advised," according to CNBC.
Nvidia and Broadcom each lost 3%. Advanced Micro Devices, Intel, and Marvell Technology posted steeper losses of 5%, 7%, and 8%, respectively. CoreWeave stock dropped 7%.
Oil prices added to the pressure on stocks. Brent crude futures advanced 4%, topping $108 a barrel, and West Texas Intermediate crude futures gained 3%, clearing $103 a barrel. Saudi Arabia shut down its East-West oil pipeline — a route used to bypass the Strait of Hormuz — after the pipeline sustained multiple drone attacks. The shutdown comes as instability across the Middle East continues to widen. It was the first time U.S. crude had traded above $100 a barrel since May.
#stocks #amodei #west
The S&P 500 shed 0.7%, the Nasdaq Composite gave back 1.2%, and the Dow Jones Industrial Average finished 140 points lower, a decline of 0.3%.
Anthropic CEO Dario Amodei argued in an essay Saturday that AI companies need to reduce the pace of innovation on their most capable models due to safety risks. Amodei told CBS News on Sunday that the "toughest dilemma" posed by any such proposal involves the question of whether China would agree to do the same. OpenAI CEO Sam Altman said in a separate Saturday interview that an IPO this year would be "ill-advised," according to CNBC.
Nvidia and Broadcom each lost 3%. Advanced Micro Devices, Intel, and Marvell Technology posted steeper losses of 5%, 7%, and 8%, respectively. CoreWeave stock dropped 7%.
Oil prices added to the pressure on stocks. Brent crude futures advanced 4%, topping $108 a barrel, and West Texas Intermediate crude futures gained 3%, clearing $103 a barrel. Saudi Arabia shut down its East-West oil pipeline — a route used to bypass the Strait of Hormuz — after the pipeline sustained multiple drone attacks. The shutdown comes as instability across the Middle East continues to widen. It was the first time U.S. crude had traded above $100 a barrel since May.
#stocks #amodei #west
3 days ago
Good morning. Stocks fell on Monday as oil prices jumped ahead of a key Fed meeting this week.
(BZ=F) crude rose to $109 per barrel, stoking worries of persistent inflation as diesel prices remain above an all-time high of $6 per gallon.
Bond yields remained elevated, with the 10-year Treasury (^TNX) just a few basis points away from the 5% threshold.
The 2-year yield to 4.64%, signaling that markets expect Fed policymakers to raise rates. Investor bets that the Federal Reserve will hike rates on Wednesday stood at 80% on Polymarket.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
#year #good
(BZ=F) crude rose to $109 per barrel, stoking worries of persistent inflation as diesel prices remain above an all-time high of $6 per gallon.
Bond yields remained elevated, with the 10-year Treasury (^TNX) just a few basis points away from the 5% threshold.
The 2-year yield to 4.64%, signaling that markets expect Fed policymakers to raise rates. Investor bets that the Federal Reserve will hike rates on Wednesday stood at 80% on Polymarket.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
#year #good
3 days ago
Costco has raised the price of its Kirkland Signature full-synthetic motor oil and begun limiting how much any one member can purchase, as a global lubricant shortage tied to the ongoing Middle East conflict pushes crude oil toward $100 a barrel.
That 10-quart case — two 5-quart bottles, enough for a typical V6 or V8 oil change — has jumped to $57.99, compared with the roughly $30 price members had grown accustomed to paying, according to The Drive. Stores are capping purchases at two units per customer per week. The retailer has also imposed a five-per-member limit on Mobil 1, with six quarts of that brand running $44.
The rationing reflects pressure from multiple directions. The connection to fuel prices runs through the refinery: base oil shares its crude-oil origins with gasoline and diesel, so when margins on finished fuel are strong, refiners have a financial reason to favor fuel production over lubricant stock, according to The Auto Wire. EIA data showed the gasoline crack spread sitting roughly a dollar per gallon higher than where it stood at the same point in 2025, a gap that has squeezed base oil availability and pushed its price upward.
Regulatory and licensing costs add a separate layer of expense. The Kirkland 5W-30 displays the dexos1 Gen 3 certification, GM's proprietary specification, and earning that mark is not free — manufacturers must put their formulation through GM's independent testing protocol and obtain a license from the automaker, paying separately for each product and each unit sold, according to The Auto Wire. Layered on top of that is an industry-wide burden: when the API SP category took effect around 2020, it introduced seven additional laboratory tests with no equivalent in the previous standard, among them a procedure targeting low-speed pre-ignition, the knock-like detonation problem **** ociated with modern turbocharged, direct-injection engines.
The supply squeeze is unfolding against a backdrop of a worsening global oil deficit. The International Energy Agency cut its 2026 global oil supply forecast to 102 million barrels per day in August, projecting a deficit of 1.8 million barrels per day in the third quarter — more than double its prior estimate. **** ulative global inventory draws since the start of the U.S.-Iran conflict have reached more than 500 million barrels, and Chevron CEO Mike Wirth said last week that the cushions that had softened earlier price increases have been exhausted. U.S. diesel prices crossed $6 per gallon for the first time, sitting at $6.06 as of Monday, an 8-cent increase from Sunday and 21 cents above week-earlier levels, according to AAA.
#barrels #wire
That 10-quart case — two 5-quart bottles, enough for a typical V6 or V8 oil change — has jumped to $57.99, compared with the roughly $30 price members had grown accustomed to paying, according to The Drive. Stores are capping purchases at two units per customer per week. The retailer has also imposed a five-per-member limit on Mobil 1, with six quarts of that brand running $44.
The rationing reflects pressure from multiple directions. The connection to fuel prices runs through the refinery: base oil shares its crude-oil origins with gasoline and diesel, so when margins on finished fuel are strong, refiners have a financial reason to favor fuel production over lubricant stock, according to The Auto Wire. EIA data showed the gasoline crack spread sitting roughly a dollar per gallon higher than where it stood at the same point in 2025, a gap that has squeezed base oil availability and pushed its price upward.
Regulatory and licensing costs add a separate layer of expense. The Kirkland 5W-30 displays the dexos1 Gen 3 certification, GM's proprietary specification, and earning that mark is not free — manufacturers must put their formulation through GM's independent testing protocol and obtain a license from the automaker, paying separately for each product and each unit sold, according to The Auto Wire. Layered on top of that is an industry-wide burden: when the API SP category took effect around 2020, it introduced seven additional laboratory tests with no equivalent in the previous standard, among them a procedure targeting low-speed pre-ignition, the knock-like detonation problem **** ociated with modern turbocharged, direct-injection engines.
The supply squeeze is unfolding against a backdrop of a worsening global oil deficit. The International Energy Agency cut its 2026 global oil supply forecast to 102 million barrels per day in August, projecting a deficit of 1.8 million barrels per day in the third quarter — more than double its prior estimate. **** ulative global inventory draws since the start of the U.S.-Iran conflict have reached more than 500 million barrels, and Chevron CEO Mike Wirth said last week that the cushions that had softened earlier price increases have been exhausted. U.S. diesel prices crossed $6 per gallon for the first time, sitting at $6.06 as of Monday, an 8-cent increase from Sunday and 21 cents above week-earlier levels, according to AAA.
#barrels #wire
3 days ago
Futures for the Dow Jones Industrial Average and the other major stock indexes traded lower Monday as oil prices surged amid the U.S.-Iran conflict. The Nasdaq took the brunt of the pain as Nvidia (NVDA) and other artificial intelligence stocks sold off on the stock market today after industry leaders urged a slowdown in AI model development.
Ahead of Monday's open, Dow futures dropped 0.4% while S&P 500 futures fell 0.7%. Nasdaq-100 futures tumbled 1.7% in early morning trading.
West Texas Intermediate crude futures advanced more than 4%, to roughly $104.40 a barrel after Saudi Arabia closed a key pipeline that bypasses the Strait of Hormuz. The 10-year Treasury yield edged higher to 4.98%. Also, bitcoin rose to roughly $77,600.
Among exchange traded funds, the Invesco QQQ (QQQ) was down 1.8%, as the State Street SPDR S&P 500 (SPY) fell 0.7% before Monday's opening bell.
Four Reasons To Put This Nvidia, AMD Partner On Your Watchlist Right Now
#jones
Ahead of Monday's open, Dow futures dropped 0.4% while S&P 500 futures fell 0.7%. Nasdaq-100 futures tumbled 1.7% in early morning trading.
West Texas Intermediate crude futures advanced more than 4%, to roughly $104.40 a barrel after Saudi Arabia closed a key pipeline that bypasses the Strait of Hormuz. The 10-year Treasury yield edged higher to 4.98%. Also, bitcoin rose to roughly $77,600.
Among exchange traded funds, the Invesco QQQ (QQQ) was down 1.8%, as the State Street SPDR S&P 500 (SPY) fell 0.7% before Monday's opening bell.
Four Reasons To Put This Nvidia, AMD Partner On Your Watchlist Right Now
#jones
3 days ago
Dow Jones futures fell early Monday, along with S&P 500 futures and especially Nasdaq futures. Crude oil prices jumped while AI stocks are under pressure after artificial intelligence leaders called for slowing AI model development. Treasury yields and the upcoming Federal Reserve meeting also are key this week.
The stock market fell last week, but rebounded Friday, with Apple (AAPL), Moderna (MRNA) and NetApp (NTAP) flashing buy signals. The S&P 500 index declined 0.8% and the Nasdaq fell 0.7%, both above their 50-day moving averages. The Dow Jones Industrial Average lost 1.6% in last week's stock market trading. The small-cap Russell 2000 shed 2.4%. Both are below their 50-day lines.
A number of stocks flashed buy signals or are setting up, but the choppy index action and rapid sector rotation has been a difficult environment.
U.S. crude oil futures spiked 9.4% to $100.05 a barrel last week, even with Friday's 2.4% decline. Oil prices shot up 20% in the last two weeks amid the widening U.S.-Iran conflict, threatening further oil supply routes.
The 10-year Treasury yield surged 19 basis points to 4.97%, the highest since nearly hitting 5% in October 2023. Markets are betting on a Fed rate hike, even as President Donald Trump reiterated his call for rate cuts.
#last #NASDAQ
The stock market fell last week, but rebounded Friday, with Apple (AAPL), Moderna (MRNA) and NetApp (NTAP) flashing buy signals. The S&P 500 index declined 0.8% and the Nasdaq fell 0.7%, both above their 50-day moving averages. The Dow Jones Industrial Average lost 1.6% in last week's stock market trading. The small-cap Russell 2000 shed 2.4%. Both are below their 50-day lines.
A number of stocks flashed buy signals or are setting up, but the choppy index action and rapid sector rotation has been a difficult environment.
U.S. crude oil futures spiked 9.4% to $100.05 a barrel last week, even with Friday's 2.4% decline. Oil prices shot up 20% in the last two weeks amid the widening U.S.-Iran conflict, threatening further oil supply routes.
The 10-year Treasury yield surged 19 basis points to 4.97%, the highest since nearly hitting 5% in October 2023. Markets are betting on a Fed rate hike, even as President Donald Trump reiterated his call for rate cuts.
#last #NASDAQ
3 days ago
What happened: The 10-year Treasury yield (^TNX) climbed to 4.97% on Monday, just 3 basis points away from the 5% threshold. Meanwhile, the 30-year Treasury (^TYX) yield hovered at 5.35%.
What's behind the move: Bond yields stayed elevated as Brent crude climbed to $107 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.
Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print.
"The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night.
Some strategists believe long-dated bond yields may ease if the Fed hikes rates at its Sept. 15-16 meeting.
#yield
What's behind the move: Bond yields stayed elevated as Brent crude climbed to $107 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.
Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print.
"The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night.
Some strategists believe long-dated bond yields may ease if the Fed hikes rates at its Sept. 15-16 meeting.
#yield
3 days ago
US stock futures sank on Monday morning after the two leading frontier artificial intelligence companies called for an industrywide slowdown of AI development, sending tech stocks tumbling. Rising oil prices and an upcoming Fed meeting this week also put pressure on stocks.
Futures on the tech-heavy Nasdaq-100 (NQ=F) fell 1.5%, led by losses in chip stocks, including Nvidia (NVDA). Futures on the Dow Jones Industrial Average (YM=F) fell 0.3%, while those on the S&P 500 (ES=F) declined by 0.6%. In Asia, shares of memory chip makers SK Hynix (SKHY) and Samsung (005930.KS) dropped.
Tech stocks were poised to fall after Anthropic (ANTH.PVT) CEO Dario Amodei wrote a 3,800-word essay over the weekend, arguing that AI companies should slow the pace of improving AI models in order to address safety concerns. Sam Altman, the CEO of rival AI lab OpenAI (OPAI.PVT), agreed in a post on X, putting the two AI companies at odds with Wall Street, which has banked on a brisk pace of improvement.
Worries about AI safety also led OpenAI to delay its initial public offering until 2027, Altman told Fortune. Anthropic still plans to list in the fall and has reportedly chosen the Nasdaq for its highly anticipated IPO.
Oil prices, meanwhile, continued to climb after Saudi Arabia shut down a key pipeline in the Middle East and as the war in the Middle East spread. Brent crude (BZ=F) traded near $108 per barrel.
#stocks #NASDAQ #openai
Futures on the tech-heavy Nasdaq-100 (NQ=F) fell 1.5%, led by losses in chip stocks, including Nvidia (NVDA). Futures on the Dow Jones Industrial Average (YM=F) fell 0.3%, while those on the S&P 500 (ES=F) declined by 0.6%. In Asia, shares of memory chip makers SK Hynix (SKHY) and Samsung (005930.KS) dropped.
Tech stocks were poised to fall after Anthropic (ANTH.PVT) CEO Dario Amodei wrote a 3,800-word essay over the weekend, arguing that AI companies should slow the pace of improving AI models in order to address safety concerns. Sam Altman, the CEO of rival AI lab OpenAI (OPAI.PVT), agreed in a post on X, putting the two AI companies at odds with Wall Street, which has banked on a brisk pace of improvement.
Worries about AI safety also led OpenAI to delay its initial public offering until 2027, Altman told Fortune. Anthropic still plans to list in the fall and has reportedly chosen the Nasdaq for its highly anticipated IPO.
Oil prices, meanwhile, continued to climb after Saudi Arabia shut down a key pipeline in the Middle East and as the war in the Middle East spread. Brent crude (BZ=F) traded near $108 per barrel.
#stocks #NASDAQ #openai
4 days ago
Jim Cramer sees Enterprise Products Partners L.P. (NYSE:EPD) as a major beneficiary of the disruption surrounding the Strait of Hormuz, as he said during the September 8 episode of Mad Money:
When I wrote How to Make Money in Any Market… I didn't know that Enterprise Products Partners was going to be the, maybe the single biggest pipeline winner in this country thanks to the war. I didn't see that war coming. The CEO of Enterprise, Jim Teague, has raised awareness for the company's profit opportunity because of the Hormuz closing. The margins of some of its liquids, like ethane to ethylene, ethylene to polyethylene, have soared. As Teague says, the Houston Ship Channel is now just as important as the Strait of Hormuz. Now, there's an endorsement. Stock yields 5.8%.
Enterprise Products Partners L.P. (NYSE:EPD) reported record second-quarter adjusted EBITDA of $2.8 billion, up 17% year over year, while operational distributable cash flow reached a record $2.3 billion, up 21%. Moreover, pipeline volumes reached a record 14.7 million barrels of oil equivalent per day, up 8%, while marine-terminal volumes increased 33% to 2.8 million barrels per day. Co-Chief Executive Officer James Teague said:
Volumes at our marine terminals have returned to normal levels in June and July after the initial rush to backfill volumes affected by hostilities in the Middle East in April and May.
In July, Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly distribution of $0.56 per unit, or $2.24 annualized, a 2.8% increase from a year earlier. At EPD's September 8 closing price of $38.83, that equates to a yield of approximately 5.8%. The company has increased its distribution for 27 consecutive years. The company's latest investor materials show $6.5 billion of major capital projects under construction. It expects 2026 organic growth capital spending, net of ***** et-sale proceeds, of $2.9 billion to $3.4 billion. The company retained $1.1 billion of DCF for internally funded growth capital expenditures and buybacks.
#partners #hormuz
When I wrote How to Make Money in Any Market… I didn't know that Enterprise Products Partners was going to be the, maybe the single biggest pipeline winner in this country thanks to the war. I didn't see that war coming. The CEO of Enterprise, Jim Teague, has raised awareness for the company's profit opportunity because of the Hormuz closing. The margins of some of its liquids, like ethane to ethylene, ethylene to polyethylene, have soared. As Teague says, the Houston Ship Channel is now just as important as the Strait of Hormuz. Now, there's an endorsement. Stock yields 5.8%.
Enterprise Products Partners L.P. (NYSE:EPD) reported record second-quarter adjusted EBITDA of $2.8 billion, up 17% year over year, while operational distributable cash flow reached a record $2.3 billion, up 21%. Moreover, pipeline volumes reached a record 14.7 million barrels of oil equivalent per day, up 8%, while marine-terminal volumes increased 33% to 2.8 million barrels per day. Co-Chief Executive Officer James Teague said:
Volumes at our marine terminals have returned to normal levels in June and July after the initial rush to backfill volumes affected by hostilities in the Middle East in April and May.
In July, Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly distribution of $0.56 per unit, or $2.24 annualized, a 2.8% increase from a year earlier. At EPD's September 8 closing price of $38.83, that equates to a yield of approximately 5.8%. The company has increased its distribution for 27 consecutive years. The company's latest investor materials show $6.5 billion of major capital projects under construction. It expects 2026 organic growth capital spending, net of ***** et-sale proceeds, of $2.9 billion to $3.4 billion. The company retained $1.1 billion of DCF for internally funded growth capital expenditures and buybacks.
#partners #hormuz
4 days ago
A fresh reading on inflation showed monthly prices rose more than expected in August, increasing the likelihood the Federal Reserve will raise interest rates next week.
A rebound to oil at $100 per barrel also complicates the picture.
Stripping out volatile food and energy prices — the way the Fed likes to scrutinize underlying inflation — the Consumer Price Index rose 0.3% month over month, compared with expectations for 0.2%. The year-over-year rate was in line with expectations for 2.4% and down a tenth of a percentage point from July. On a headline basis, CPI rose 3.4% in August, in line with expectations, and 0.4% month over month.
"The upside surprise to core CPI in August means the Fed looks set to hike next week," said Stephen Brown, North America chief economist for Capital Economics.
Markets are now betting on a 90% chance of a rate hike at Wednesday's Fed policy meeting, according to CME FedWatch.
#august #expectations #inflation
A rebound to oil at $100 per barrel also complicates the picture.
Stripping out volatile food and energy prices — the way the Fed likes to scrutinize underlying inflation — the Consumer Price Index rose 0.3% month over month, compared with expectations for 0.2%. The year-over-year rate was in line with expectations for 2.4% and down a tenth of a percentage point from July. On a headline basis, CPI rose 3.4% in August, in line with expectations, and 0.4% month over month.
"The upside surprise to core CPI in August means the Fed looks set to hike next week," said Stephen Brown, North America chief economist for Capital Economics.
Markets are now betting on a 90% chance of a rate hike at Wednesday's Fed policy meeting, according to CME FedWatch.
#august #expectations #inflation
4 days ago
A surreal crash at NASCAR's O'Reilly Series Nu Way 225 on Saturday could have been so much worse.
The end of the first stage saw a 10-car crash hit pit road as the entire field entered for fresh tires. It began with Rajah Caruth's No. 88 car getting spun out and ended with the road fully clogged and the race on ice.
Caruth, Brandon Jones, Harrison Burton, Dean Thompson, Jeb Burton, Ryan Sieg, Patrick Staropoli, Jeremy Clements, Nicholas Sanchez and Anthony Alfredo were all involved, with some sustaining race-ending damage.
Scary scene on pit road with multiple cars involved in a big crash. pic.twitter.com/LRfyydLNAk
The bigger worries were for the crew of Brent Crews in the No. 19 car. Crews had already pitted and was receiving work when Sanchez's car barreled into his right rear, coming within inches of significant contact with rear tire changer Bryan Backus.
#involved #rear
The end of the first stage saw a 10-car crash hit pit road as the entire field entered for fresh tires. It began with Rajah Caruth's No. 88 car getting spun out and ended with the road fully clogged and the race on ice.
Caruth, Brandon Jones, Harrison Burton, Dean Thompson, Jeb Burton, Ryan Sieg, Patrick Staropoli, Jeremy Clements, Nicholas Sanchez and Anthony Alfredo were all involved, with some sustaining race-ending damage.
Scary scene on pit road with multiple cars involved in a big crash. pic.twitter.com/LRfyydLNAk
The bigger worries were for the crew of Brent Crews in the No. 19 car. Crews had already pitted and was receiving work when Sanchez's car barreled into his right rear, coming within inches of significant contact with rear tire changer Bryan Backus.
#involved #rear
4 days ago
Bitcoin (CRYPTO: $BTC) and other cryptocurrencies were down to end the trading week on Sept. 11 as the odds of an interest rate hike in the U.S. continued to rise. Futures markets now see a greater than 70% chance that the U.S. Federal Reserve raises interest rates by 25-basis points at its meeting on Sept. 16.
Markets ratcheted up their expectations for higher interest rates following a hot U.S. inflation report for August, and as crude oil hovers near $100 U.S. a barrel for the first time since May of this year. Higher interest rates are negative for risk **** ets such as crypto. As a result, Bitcoin was trading at $77,500 U.S. at week's end, down from a recent high of $82,000 U.S.
Other digital **** ets were also under pressure, with Ethereum's (CRYPTO: $ETH) price right around $2,500 U.S. Despite the pullback, crypto prices remain sharply higher than where they were a month ago, when Bitcoin was trading below $65,000 U.S. BTC peaked at an all-time high of $126,198.07 U.S. on Oct. 6 of last year.
More From Cryptoprowl:
MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster
#Crypto #sept #down
Markets ratcheted up their expectations for higher interest rates following a hot U.S. inflation report for August, and as crude oil hovers near $100 U.S. a barrel for the first time since May of this year. Higher interest rates are negative for risk **** ets such as crypto. As a result, Bitcoin was trading at $77,500 U.S. at week's end, down from a recent high of $82,000 U.S.
Other digital **** ets were also under pressure, with Ethereum's (CRYPTO: $ETH) price right around $2,500 U.S. Despite the pullback, crypto prices remain sharply higher than where they were a month ago, when Bitcoin was trading below $65,000 U.S. BTC peaked at an all-time high of $126,198.07 U.S. on Oct. 6 of last year.
More From Cryptoprowl:
MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster
#Crypto #sept #down
5 days ago
Corn futures were busy squaring up ahead of the Friday USDA report, closing Thursday with gains of 5 to 7 cents across the board. The CmdtyView national average Cash Corn price was up 6 cents at $4.87.
The weekly EIA report showed ethanol production at 1.099 million barrels per day in the week of 9/4, down 11,000 bpd from the week prior. Stocks saw a 152,000 barrel increase to 25.187 million barrels, which is 10.29% above the same week last year.
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Sugar Prices Climb as Crude Oil Soars
Can Soybeans Remain in the Teens?
#million #USDA
The weekly EIA report showed ethanol production at 1.099 million barrels per day in the week of 9/4, down 11,000 bpd from the week prior. Stocks saw a 152,000 barrel increase to 25.187 million barrels, which is 10.29% above the same week last year.
Arabica Coffee Falls Sharply on ICO Projections for Record Coffee Production
Sugar Prices Climb as Crude Oil Soars
Can Soybeans Remain in the Teens?
#million #USDA
5 days ago
Good morning. Stocks were on track for their fourth day of declines on Thursday as investors watched long-dated bond yields amid surging oil prices ahead of this week's key inflation print.
The market has been pricing in a 62% chance of a Fed rate hike ahead of Fed policymakers' meeting next week.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
The 2-year yield also gained 10 basis points during the session to 4.53% as traders adjust to the idea that monetary policy will stay "higher for longer."
The 10-year Treasury (^TNX) hovered near 4.91% while Brent crude futures (BZ=F) topped $105 per barrel amid continued Iran-US tensions in the Middle East.
#amid #finance
The market has been pricing in a 62% chance of a Fed rate hike ahead of Fed policymakers' meeting next week.
Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
The 2-year yield also gained 10 basis points during the session to 4.53% as traders adjust to the idea that monetary policy will stay "higher for longer."
The 10-year Treasury (^TNX) hovered near 4.91% while Brent crude futures (BZ=F) topped $105 per barrel amid continued Iran-US tensions in the Middle East.
#amid #finance
