It gained $1.43 on Wednesday, to $74.34 per barrel.īrent crude, the standard for international trading, slipped 13 cents to $78.10 per barrel. crude oil dropped 24 cents to $74.10 per barrel in electronic trading on the New York Mercantile Exchange. In other trading Thursday, benchmark U.S. Homebuilder Toll Brothers rose 2.1% after reporting much better results than analysts expected for the latest quarter. consumers has helped to fend off a recession even as manufacturing and other areas struggle with higher interest rates. Analysts had expected it to turn in a loss. Kohl’s jumped 7.5% after reporting a surprise profit for its latest quarter, helped in part by momentum at its Sephora beauty shops. Helping to limit Wall Street’s losses were several companies that reported stronger results for the start of the year than analyst expected. Federal Reserve officials were divided earlier this month on whether to pause their rate hikes at their upcoming meeting in June, according to the minutes of their latest meeting. Traders are hopeful just one more hike may be on the way this summer, if any at all. Interest rates are so high because the Federal Reserve has yanked them up at the fastest pace in decades to try to bring inflation under control. The yield on the two-year Treasury, which moves more on expectations for Fed action, rose to 4.37% from 4.33%. It helps set rates for mortgages and other important loans. The yield on the 10-year Treasury rose to 3.73% from 3.70% late Tuesday. The Dow Jones Industrial Average dropped 0.8% to 32,799.92, while the Nasdaq composite lost 0.6% to 12,484.16. “As the early-June deadline ticks closer, only a concrete resolution may provide the much-needed conviction for markets rather than verbal reassurances, with the lingering risks of a continued impasse still keeping sentiments on a cautious tone,” Yeap Jun Rong of IG said in a commentary.Īll told, the S&P 500 fell 30.34 to 4,115.24. The widespread belief on Wall Street is that Congress will come to an agreement at the 11th hour, as it’s done several times before, because a default would benefit no one and could cause tremendous disruptions to the economy and financial markets. government could run out of cash to pay its bills as soon as June 1 unless Congress allows it to borrow more. Minutes from the Federal Reserve’s latest meeting showed policy makers are split on whether to keep raising interest rates. stock index is on track for its worst week in more than two months as the once-unthinkable creeps closer to possibility. Headquartered in rural Oxfordshire, UK, we're a small and passionate team who love to chat.The main U.S. Furthermore, our content is provided in 1080p HD minimum resolution, and most of our content is now provided in 4K. By working with fewer, more well established contributors, we can also be sure that the content has been sourced responsibly and is safe to use. We only work with a select number of trusted providers for our premium content, and we give each a bigger cut of the pie, so that earnings are not diluted across thousands of contributors. Originally started as a free stock footage service, we've added sound effects and music tracks into the mix too, as well as an extended collection of 1.5M+ premium stock assets. Videvo was created with one simple mission: to make stock footage more affordable, and in doing so empower creators worldwide to produce awesome visual content.
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