Data released by the Labor Department showed that 213,000 people filed initial jobless claims in the week ended Feb. 28.
The count of claims, steady from the previous week’s revised level, was below economist expectations of 215,000 initial claims. The labor market signal comes ahead of Friday’s critical February jobs report.
Bernstein analyst Bob Brackett said oil equities have gained this year for three main reasons: their sensitivity to oil prices, investor rotation into the sector, and geopolitical risk premiums. He also said those same forces can reverse and push the sector lower.
The first risk is demand destruction.
» Read more about: Rising Oil Prices Pressure US Stocks as Bernstein Warns on Energy Equity Risks »
HONG KONG (AP) — Asia shares were mixed Friday following a mild retreat on Wall Street, while the price of oil fell more than $1 after reaching the highest level since the summer of 2024.
U.S. futures edged higher as the war with Iran entered its seventh day, with Israeli airstrikes pounding the capitals of Iran and Lebanon.
» Read more about: Asia shares are mixed following Wall Street’s losses, as oil edges lower »
While Solana’s token price has experienced significant pressure since its exchange-traded fund launch in the US,
Stocks tumbled Thursday, with the Dow Jones Industrial Average shedding almost 800 points as oil prices jumped amid the war with Iran. Higher energy prices are sparking concerns on Wall Street that they could reignite U.S. inflation.
The Dow tumbled 785 points, or 1.6%, on Thursday,
» Read more about: Dow plunges almost 800 points as surging oil prices renew inflation fears »
US stock futures drifted higher on Friday as investors continue to react to an expanding conflict between the US-Israel coalition and Iran ahead of Friday’s key jobs report.
Contracts on the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) both edged up roughly 0.2%,
If there has been one narrative that has driven the stock market over the past few years — for better or for worse — artificial intelligence (AI) wins hands down. Some companies have enjoyed blistering runs higher, while others have fallen victim to the so-called “software apocalypse,” as fears of AI disruption have sent many software stocks plummeting.
Warren Buffett’s long-running bet on Occidental Petroleum is looking prescient. Occidental Petroleum (NYSE:OXY) has surged 30.37% year-to-date, and the catalyst accelerating that move is the same one rattling global energy markets: the death of Iranian Supreme Leader Ayatollah Ali Khamenei on February 28, 2026, which triggered fears of Strait of Hormuz supply disruptions and sent WTI crude to $71.13 per barrel,
» Read more about: Warren Buffett’s Oil Bet Looks Genius, Here Is What to Buy Next »
By CHRISTOPHER RUGABER
WASHINGTON (AP) — The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be the next Fed chair when Jerome Powell’s term ends in two months.
Warsh’s nomination, which was initially announced Jan. 30,
» Read more about: White House formally nominates Warsh to be Federal Reserve chair »
