(Oil Price) – Texas Pacific Land, a large owner of acreage in the Permian basin, will replace Marathon Oil in the S&P 500 index on November 26, as Marathon Oil is being acquired by ConocoPhillips in a deal expected to close on November 22, S&P Dow Jones Indices said. Texas Pacific Land Corporation has a company-level market capitalization that is more representative
Reuters Wall Street stocks fell on Monday as investors took profits after a sharp rally that has put the benchmark S&P 500 index on course for its best November ever. All 11 major S&P 500 sectors fell, with the energy index leading losses with a 3.5% decline, tracking a drop in crude prices. [O/R] Microsoft Corp dipped 1.3% and weighed
Fox Business Stocks jumped Tuesday as Americans head to the polls to cast their ballots for the next president. The Dow Jones Industrial Average jumped nearly 500 points, a gain of 1.8%, while the S&P 500 rose 1.7% in what is a broad rally in mid-day trading with all of the 11 major sectors higher. The two were on pace to
CNBC The stock market could be in trouble after its historic surge from the late-March lows as valuations become increasingly elevated, data compiled by RBC Capital Markets showed. The S&P 500′s trailing price-earnings ratio, a widely used valuation metric, is currently sitting at 21.61. That’s near the highs seen in early 2020, when the broader market index was trading at an
Reuters Wall Street’s S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week’s Federal Reserve meeting for signs on how it views a restarting economy. The S&P 1500 airlines index tumbled 7.3%, while cruise operators Carnival Corp and Norwegian Cruise Line Holdings Ltd
CNBC The S&P 500 has returned 37.7% over the last 50 trading days, making it the benchmark index’s largest 50-day rally in history, according to LPL Financial. And if history is any indication, there could be more gains ahead. Looking at the other largest 50-day rallies, the firm found that stocks were higher 100% of the time six and 12
From Bloomberg Company executing new ‘playbook’ to deal with customer changes, shale producers are trimming spending amid investor pressure Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear. The world’s biggest provider of fracking equipment, including heavy duty rock-blasting pumps and
From Reuters U.S. stocks declined on Friday, as the S&P 500 retreated after closing at a record for three straight sessions, following an unexpectedly strong U.S. payrolls report that caused investors to rethink how dovish a turn the Federal Reserve may take. The U.S. Labor Department data showed nonfarm payrolls rose by 224,000 jobs in June, the most in five
From Bloomberg Median could shift to two increases from three in 2019 Fed chief says rates ‘just below’ range of neutral estimates Federal Reserve Chairman Jerome Powell opened the door for a potential pullback in projected interest-rate hikes for 2019 following a widely expected increase in December. In what was seen as a shift in tone from remarks
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