Commodities

U.S. stock market closed with growth. Dow Jones gained 2.43%

Published

3 years ago

July 20, 2022

investing.com – The U.S. stock market closed Tuesday trading higher on strength in the industrial, technology and oil and gas sectors.

At the close on the New York Stock Exchange, the Dow Jones was up 2.43%, hitting a one-month high; the S&P 500 was up 2.76%, and the NASDAQ Composite was up 3.11%.

The top gainers among Dow Jones index components in today’s trading were shares of Boeing Co (NYSE:BA), which rose 8.41p (5.69%) to close at 156.13. Goldman Sachs Group Inc (NYSE:GS) gained 16.79p (5.57%) to close at 318.05. Nike Inc (NYSE:NKE) gained 5.25p (5.05%) to close at 109.19.

International Business Machines (NYSE:IBM) were the fallers, down 7.25p (5.25%) to close the session at 130.88. Shares of Johnson & Johnson (NYSE:JNJ) rose 2.54p (1.46%) to close at 171.69, and Merck & Company Inc (NYSE:MRK) rose 0.02p (0.02%) to close at 92.36.

The top gainers among S&P 500 index components in today’s trading were Caesars Entertainment Corporation (NASDAQ:CZR) which gained 8.28% to 41.79, Match Group Inc (NASDAQ:MTCH) which gained 8.17% to close at 70.45 and PVH Corp (NYSE:PVH) which gained 8.11% to close the session at 61.82.

International Business Machines (NYSE:IBM) shares were the fallers, dropping 5.25% to close at 130.88. Shares of Signature Bank (NASDAQ:SBNY) lost 4.51% to end the session at 187.28. Johnson & Johnson (NYSE:JNJ) was down 1.46% to 171.69.

The top gainers among the components of the NASDAQ Composite index in today’s trading were Applied Blockchain Inc (NASDAQ:APLD) which gained 100.00% to close at 2.12, Liquidia Technologies Inc (NASDAQ:LQDA) which gained 45.31% to close at 5.42, and Sidus Space Inc (NASDAQ:SIDU) which gained 40.64% to close the session at 3.98.

Biote Corp (NASDAQ:BTMD) were the fallers, down 23.49% to close at 3.81. Shares of High Tide Inc (NASDAQ:HITI) lost 21.90% to end the session at 1.64. Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) was down 17.31% to 5.54.

On the NYSE, 2,660 gained more than 489 lost ground while 115 gained little. On NASDAQ, 2,958 stocks gained, 818 declined, and 204 remained flat.

High Tide Inc (NASDAQ:HITI) shares fell to a 52-week low, trading down 21.90 percent, 0.46 points to close at 1.64.

The CBOE Volatility Index, which is based on the S&P 500 options trade, fell 3.16% to 24.50.

Gold futures for August delivery lost 0.06%, or 0.95, to $1.00 per troy ounce. In other commodities, September WTIcrude futures rose 1.25 percent, or 1.24, to $100.66 a barrel. Futures on Brent crude for September delivery grew by 1.02%, or 1.08, to $107.35 a barrel.

Meanwhile, on the Forex market, EUR/USD gained 0.82% to 1.02, USD/JPY gained 0.08% to 138.24.

The USD index futures were down 0.61% to 106.58.

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US oil and gas rig count falls to lowest since Dec 2021, Baker Hughes says

Published

1 day ago

January 26, 2025

By Scott DiSavino

(Reuters) – U.S. energy firms this week cut the number of oil and rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes (NASDAQ:) said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, fell by four to 576 in the week to Jan. 24.

Baker Hughes said this week’s decline puts the total rig count down 45, or 7% below this time last year.

Baker Hughes said oil rigs fell by six to 472 this week, their lowest since December 2021, while gas rigs rose by one to 99.

In the Permian Basin in West Texas and eastern New Mexico, the nation’s biggest oil-producing shale basin, the rig count fell by six in the week to 298, the lowest since February 2022.

That six-rig decline in the Permian was the biggest weekly drop since August 2023.

The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on paying down debt and boosting shareholder returns rather than raising output.

Even though analysts forecast U.S. spot crude prices could decline for a third year in a row in 2025, the U.S. Energy Information Administration (EIA) projected crude output would rise from a record 13.2 million barrels per day (bpd) in 2024 to around 13.6 million bpd in 2025.

On the gas side, the EIA projected a 43% increase in spot gas prices in 2025 would prompt producers to boost drilling activity this year after a 14% price drop in 2024 caused several energy firms to cut output for the first time since the COVID-19 pandemic reduced demand for the fuel in 2020. [NGAS/POLL]

The EIA projected gas output would rise to 104.5 billion cubic feet per day (bcfd) in 2025, up from 103.1 bcfd in 2024 and a record 103.6 bcfd in 2023.