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Aramco CEO warns 1 billion barrels lost will slow oil market recovery ReutersSaudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity amid Iran war CNBCSaudi Aramco profits jump despite conflict in Middle East The GuardianSaudi Aramco profits rise as oil price surge and pipeline offset Iran war hit Financial Times
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Saudi Aramco profits rise as oil price surge and pipeline offset Iran war hit Financial TimesSaudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity amid Iran war CNBCAramco CEO warns 1 billion barrels lost will slow oil market recovery ReutersWorld deprived of 1 billion barrels of oil over past 2 months, Saudi Aramco CEO says The Times of Israel
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Investors weighed data on the American jobs market and conflicting signals about status of the conflict in the Persian Gulf.
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Listen to a special episode from Where AI Works, a podcast hosted by Wharton faculty, sponsored by Accenture. The show dives into how artificial intelligence is transforming the way we live and work, with real-world stories and insights from leaders across industries.
In this episode, Wharton's Peter Cappelli is joined by Vivian Sun, senior director for data and AI at Jabil, one of the world's largest manufacturing companies. Together, they explore how Jabil started small with computer vision to improve quality control, built early wins that inspired broader adoption, and transformed the way teams work alongside AI across the enterprise.
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The stock market took another step lower Friday, as Treasury yields continued to rise to levels not seen in over a decade.
Today's drop brought the Dow below the important 30,000 mark and this close to bear-market territory, which is defined as a 20% drop from the most recent high (or its Jan. 3 peak at 36,585.06, in this case). The blue-chip index is the only one of its major market peers to have not crossed that threshold (the Nasdaq, remember, entered a bear market on March 7, and the S&P 500 on June 13).
SEE MORE 10 Dividend Growth Stocks Delivering Impressive Increases
"Financial markets are now fully absorbing the Fed's harsh message that there will be no retreat from the inflation fight," says Douglas Porter, chief economist at BMO Capital Markets. "The steep back-up in global rates further bludgeoned stocks, resource prices, and commodity currencies this week, given mounting recession odds," he added.
While yields on government bonds came off their earlier highs, they are still hovering at levels not seen in over 10 years (2011 for the 10-year note and 2007 for the two-year). Specifically, the 10-year Treasury yield hit a session peak of 3.829% before settling at 3.695%, while the 2-year Treasury yield climbed as high as 4.27% before ending at 4.201%.
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As for the equities marke
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