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Wall Street’s hot start to the year cools as stocks drift
Crude oil prices fell 1.1% after Venezuela agreed to supply millions of barrels to the U.S., while mixed job reports influenced Federal Reserve rate cut expectations.
- On Wednesday, Wall Street cooled as the S&P 500 was nearly flat, the Dow rose less than 0.1%, and Nasdaq gained 0.1% in early trading.
- Following comments about Venezuelan oil supplies, President Donald Trump said Tuesday Venezuela would provide 30 million to 50 million barrels to the United States, pushing U.S. crude down 1.1% to $56.52 and Brent 0.4% to $60.42.
- A report suggested employers outside government added 41,000 jobs last month, and the 10-year yield eased as the Fed signaled fewer cuts due to inflation above 2%.
- Moves were relatively quiet across the U.S. stock market on Wednesday, with Warner Bros. Discovery flat, Paramount Skydance down 0.4%, and Netflix up 1.1%.
- Oil prices have returned toward 2021 levels as expectations of ample supply grew, but pulling substantially more oil from Venezuela would likely require big investments to upgrade aging infrastructure.
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Hartford Courant+18 Reposted by 18 other sources
Wall Street’s hot start to the year cools as stocks drift
NEW YORK (AP) — Wall Street’s hot start to the year is cooling a bit on Wednesday. Related Articles Horror of school attack in Uvalde, Texas, brings tears as officer faces trial over police response US seizes 2 sanctioned oil tankers linked to Venezuela in North Atlantic and Caribbean Nick Reiner to be arraigned in killing of parents Rob and Michele Singer Reiner Today in History: …
·Hartford, United States
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Total News Sources19
Leaning Left1Leaning Right1Center16Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
C 89%
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