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☆ Wholesale prices rose 0.5% in April, more than expected
▼ + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon. Stripping out volatile food and energy prices, core PPI also increased 0.5% compared to the 0.2% Dow Jones estimate. On a year-over-year basis, wholesale inflation rose 2.2%, also the highest in a year. Core PPI inflation was at 2.4%, the biggest annual move since August 2023. Services prices boosted the wholesale inflation reading, rising 0.6% and accounting for about three-quarters of the headline gain, while the final demand goods index increased 0.4%.

Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters . Stock, BLS, Federal Reserve, Commerce, York

☆ These 10 oil stocks are the most — and least — sensitive to price swings amid Iran-Israel tensions
▼ + stars: | 2024-04-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Crude oil prices have been volatile in April amid heightened geopolitical risks. Fears of a spillover conflict in the Middle East have led some market watchers to predict oil prices could soar to $100 per barrel and beyond . Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Oil and gas stocks that show a negative correlation with crude oil prices will enable investors to withstand any volatility while remaining invested in the sector. A correlation of 0 would mean no link between the crude oil price and the stock price.

Persons: Bartosz, Andy Lipow, — CNBC's Lee Ying Shan, Jenni Reid Organizations: Organization of, Petroleum, CNBC, Brent, Lipow Oil Associates, CNBC Pro, Energy Locations: Iran, Israel, Conotoxia, Hormuz, lockstep

☆ Cramer says hot CPI data may not reflect the reality of inflation, citing recent trends in key categories
▼ + stars: | 2024-04-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer questioned whether the hotter-than-expected consumer price index data accurately represents the state of inflation, saying Wall Street's wave of Wednesday selling could have been a mistake. "These headline CPI numbers do not reflect reality as I see it." The Bureau of Labor Statistics CPI is a key inflation metric — a broad measure of the cost of goods and services across the economy. Cramer first pointed to the 0.9% month-over-month increase in the price of meat, poultry, fish and eggs, with the latter alone climbing 4.6%. "I'm not talking about the absolute numbers, I'm talking about the trendlines, because the trendlines suggest that selling in response to this report may have been and could be a mistake."

Persons: CNBC's Jim Cramer, Dow Jones, Cramer Organizations: Labor Statistics CPI, Cal, Maine Foods, U.S Locations: Texas

☆ Baltimore’s economy has been humming. Then a bridge collapsed
▼ + stars: | 2024-04-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Baltimore’s regional economy has a lot going for it such as low unemployment and low inflation. That’s well below the national rate of 3.9% in February and ranks 43rd out of 389 regions across the country with more than one million residents. Low inflationThe US economy is still dealing with high inflation, but that’s not much of a problem for the Baltimore metro. Inflation in Baltimore slowed dramatically last year from April to June, falling to a 2.8% annual rise from April’s 5.3%. Like across the country, rising energy prices have recently pushed up overall inflation in the Baltimore metro.

Persons: Francis Scott Key, Prince, it’ll, Matt Rourke, Matt Jaffe, “, ” Jaffe, that’s, That’s, ” Christina DePasquale, Johns, Freddie Mac Organizations: Washington CNN, CNN, Towson, Labor Department, Washington D.C, U.S, Baltimore, Johns Hopkins Carey Business School, National Association of Realtors, NAR, Fed Locations: Baltimore, Port, Baltimore County, Columbia, Boston, Orlando, Atlanta, Washington, Dundalk, Md

And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

☆ Inflation unexpectedly creeps up
▼ + stars: | 2024-03-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

CPI also increased 0.4% month over month. AdvertisementConsumer price index data released by the Bureau of Labor Statistics Tuesday showed inflation, by this measure, unexpectedly accelerated slightly in February. AdvertisementCore CPI only increased 0.4% from January to February, or matching the previous surge of 0.4%. The food index slowed from a year-over-year increase of 2.6% in January to an increase of just 2.2% in February. The energy index saw another year-over-year decline, a decline of 1.9% in February following a decline of 4.6%.

Persons: —, That's, It's, Nick Bunker Organizations: CPI, Service, Bureau of Labor Statistics, BLS, of Labor Statistics

Rising gasoline and housing prices led inflation to increase 0.4% in February, the Bureau of Labor Statistics reported on Tuesday. The food index was unchanged in February, as was the food at home index. Meanwhile, a recent report on consumer spending from Mastercard found that retail sales excluding autos were up in February, with online retail sales up more than 9.1%. The Census Bureau is scheduled to release retail sales for February on Thursday with analysts looking for a strong 0.8% increase after January's drop. “A dip in retail sales to start the calendar year is common, however, this year January retail sales marked the biggest decline since March of last year,” said Chip West, retail and consumer behavior expert at Vericast.

Persons: ” Joseph Brusuelas, ”, Chip Organizations: of Labor Statistics, Federal, “ Services, RSM, Mastercard, Apparel, Bureau, Federal Reserve Bank of, Blue Locations: Federal Reserve Bank of Atlanta

☆ Top stocks to play the future of energy from an investor managing a $5 billion Vanguard fund
▼ + stars: | 2024-03-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +8 min

The Vanguard Energy Fund originated in 1984 and until Levering arrived, it had focused for more than three-decades on oil, gas and coal investments. "My view was that's fossil fuel energy — that's not energy," Levering told CNBC in an interview. Levering took over the Vanguard fund in 2020 as the Covid-19 pandemic had effectively shut down the global economy. Levering said the Vanguard Energy Fund is structured to remain resilient and deliver returns through its hybrid approach, regardless of the macroeconomic turns the world takes. European oil majors The Vanguard Energy Fund remains heavily weighted toward oil and gas companies.

Persons: Tom Levering, Levering Organizations: Vanguard Energy Fund, CNBC, Vanguard, Wellington Management, U.S, Congress, Invesco, Utilities, Duke Energy, Shell, BP Locations: Covid, Russia, Ukraine, French, Southern

☆ Goldman Sachs likes this under-the-radar European sector, naming 2 stocks with almost 40% upside
▼ + stars: | 2024-01-26 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Europe's power grid is in dire need of an upgrade, Goldman Sachs says, naming two stocks it expects to benefit from the network's expansion and modernization. "Power grids sit in the sweet spot of electrification: besides an accelerating top line, we highlight attractive risk-adjusted returns, which are usually set on a 'cost plus' basis." Stock picks Goldman Sachs said the way to play this theme is through pure plays and green energy majors. The green energy industry has had a tough time of it since 2021 as global central banks hiked interest rates in an effort to combat inflation. "We believe power network activities represent an incremental leg in our re-rating thesis for Green Energy Majors," Goldman's analysts added, naming Enel and SSE as buy-rated stocks.

Persons: Goldman Sachs, Alberto Gandolfi, Stock, Goldman, — CNBC's Michael Bloom Organizations: Clean Energy ETF, Energy Index, Green Energy, Milan Stock Exchange, London Stock Exchange, Global Renewable Energy Locations: Europe

☆ Inflation ticks back up as housing prices stay stubbornly high
▼ + stars: | 2024-01-11 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

The consumer price index increased by 3.4% from December 2022 to December 2023. The year-over-year CPI increase was expected to be 3.2% for December. After CPI rose by 0.1% month over month in November when looking at the seasonally adjusted change, CPI rose by 0.3% from November to December — just above the forecast of 0.2%. Core CPI, excluding volatile food and energy prices, increased by 3.9% after a 4.0% year-over-year increase in November. Meanwhile, the shelter index rose by 0.5% month over month in December, slightly higher than the month-over-month increases seen in October and November.

Persons: —, Greg McBride, Jerome Powell, Powell, we're Organizations: Service, of Labor Statistics, CPI, BLS, Federal Reserve

☆ JPMorgan is out with its global commodities outlook. Here's where it sees opportunity
▼ + stars: | 2023-12-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Investors will need to be tactical to harvest returns from commodities next year but there is an area where J.P. Morgan is making a broadly bullish call — precious metals. The firm expects a breakout rally the middle of 2024 with gold prices hitting a targeted peak of $2,300 an ounce, according to the investment bank's commodities outlook. Silver, meanwhile, will push above $30 per ounce on the rate cutting cycle, according to J.P. Morgan. The global economy is expected to slow, but will avoid a recession from 2024 to 2025, making it difficult to provide an overarching bullish or bearish call on commodities, according to the bank. There is value in oil and gas but how investors time their entry and exits will be critical, according to J.P. Morgan.

Persons: Morgan, Gold, Brent, J.P Organizations: Federal, Bloomberg, Precious Metals, Commodities, Morgan, New York Mercantile Exchange, Livestock Locations: Agriculture, China

☆ Why No One Wants to Pay for the Green Transition
▼ + stars: | 2023-11-30 | by ( Greg Ip | ) www.wsj.com time to read: 1 min

Orsted, a Danish developer of wind farms, pulled out of two projects off New Jersey and took a $4 billion charge. Photo: Wayne Parry/Associated PressIn the past few years, Washington and Wall Street started fantasizing that the transition to net-zero carbon emissions could be an economic bonanza. When Wall Street heard green energy, it saw profits. As Ford Motor launched an electric Mustang and pickup truck, its market value topped $100 billion for the first time. With electric vehicle demand falling short of expectations, manufacturers are dialing back production and buying back stock instead.

Persons: Wayne Parry, Biden Organizations: Associated Press, Wall, Ford Motor Locations: Danish, New Jersey, Washington

☆ Inflation cooled off in October
▼ + stars: | 2023-11-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Inflation cooled off in October based on new year-over-year data out Tuesday. The Consumer Price Index increased 3.2% year over year in October, less than the year-over-year increase of 3.7% in September. AdvertisementInflation cooled but is still above the Fed's 2% target per the year-over-year change in the Consumer Price Index, or CPI, for October. The year-over-year increase in October was just less than the forecast of 3.3%, and the increase is less than the September's 3.7% year-over-year increase . AdvertisementThe food index didn't see as large an increase as the shelter index, with a year-over-year increase of 3.3%.

Persons: —, David Kelly, Kelly, Jerome Powell, Powell Organizations: Service, of Labor Statistics, Bureau of Labor Statistics, Morgan Asset Management, PMI, Federal Reserve, Federal

☆ Greenlight's David Einhorn — up 27% this year — is on a 'buyers' strike' and worries about geopolitics
▼ + stars: | 2023-11-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's hedge fund returned 12.9% in the third quarter, bringing its 2023 gains to 27.7%. "The complacent investor view that geopolitics should be ignored might be true, except for the times when it isn't. "Higher oil prices would squeeze the consumer and likely cause a recession. His stellar track record made him one of the most followed hedge fund managers on Wall Street. Einhorn said his biggest winners in the third quarter were Consol Energy , Capri Holdings and Black Knight.

Persons: Greenlight Capital's David Einhorn, Einhorn, Russia's, he's, Black Knight Organizations: CNBC, Federal Reserve, West, Cornell grad, Greenlight Capital, Wall, Consol Energy, Capri Holdings, Black Locations: Ukraine, U.S, West Texas

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Asia shares rise after Fed comments, markets' eyes on Middle East
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 1.2% at 0135 GMT. Japan's benchmark Nikkei average (.N225) rose 2.4% while Australia's S&P/ASX 200 (.AXJO) rose for a fourth straight session to gain 1.2%. Top Fed officials indicated on Monday that rising Treasury yields could steer the Fed from further rate increases, helping to spur a rise in bond prices after those markets had been closed the previous day in the U.S. and Tokyo. The markets' initial reaction to the major geopolitical developments in the Middle East was a bout of risk aversion, analysts from National Bank of Australia said in a note. Ten-year Treasury yields , which have been surging, fell more than 13 basis points to 4.6% at the open in Tokyo as bond prices rallied after Monday's holiday.

Persons: Androniki, Australia's, Kerry Craig, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn Organizations: Nikkei, REUTERS, dovish, Top Fed, Tokyo ., Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, Asia Pacific, U.S, Israel, Palestinian, Gaza, Hong Kong, Sydney

A general view of GE Renewable Energy wind turbines, part of Pattern Energy’s Western Spirit Wind project, the largest wind project in the U.S., near Encino, New Mexico, U.S., March 15, 2023. Renewable energy funds globally suffered a net outflow of $1.4 billion in the July-September quarter, the biggest ever quarterly outflow, according to LSEG Lipper data. Reuters GraphicsInvestors have been exiting traditional energy funds, too, but the rate has slowed - net outflows reached $438 million in the last quarter compared with $3.32 billion in the previous three months. Reuters GraphicsDemand for exposure to renewable energy had been a major driver of cash flowing into climate-related funds in recent years. Wind projects off Britain, the Netherlands and Norway have been delayed or shelved due to rising costs and supply chain constraints, raising concerns about countries hitting their 2030 renewable energy targets.

Persons: Bing Guan, Denmark's, Madeline Ruid, Ruid, Morningstar, they're, Rich Pontillo, Patturaja, Tommy Reggiori Wilkes, Simon Jessop, Tomasz Janowski Organizations: GE Renewable Energy, REUTERS, Investors, Reuters Graphics, Companies, U.S . Infrastructure, Clean Energy Exchange, Energy, Reuters, Nasdaq, Intelligence, Thomson Locations: U.S, Encino , New Mexico, BENGALURU, LONDON, Britain, Netherlands, Norway, Bengaluru, London

☆ Oil prices and the dollar surged in the third quarter. These ETFs can help you reset your portfolio
▼ + stars: | 2023-09-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

.DXY 1Y mountain The dollar index hit new highs for 2023 in September. "Energy equities haven't really kept up with the energy market rally," she added. The latest iShares outlook highlighted the firm's U.S. Energy ETF (IYE) as a way to play higher oil prices. Other major funds in that category include the Energy Select Sector SPDR Fund (XLE) , the Vanguard Energy Index ETF (VDE) and the Fidelity MSCI Energy Index ETF (FENY) . Investors can outsource currency market decisions in the form of managed futures ETFs, which have exposure to currency markets in addition to other asset classes.

Persons: Gargi Chaudhuri, Morgan Stanley, Sasikanth Chilukuru, It's, Chaudhuri, Todd Sohn, Sohn, Andrew Beer, Beer, You've, Anastasia Amoroso, There's, Amoroso Organizations: Texas, BlackRock, iShares, Energy, U.S . Energy, Vanguard Energy, Fidelity MSCI Energy, Wall, U.S ., Invesco DB, Fund, WisdomTree Bloomberg, Investors, Global, Apple, Nvidia Locations: U.S, Saudi Arabia, DBi, Japan

LITTLETON, Colorado, Sept 20 (Reuters) - Despite the heat waves, wildfires and floods that have amplified calls to accelerate the global energy transition away from fossil fuels, investors withdrew record funds from the world's largest clean energy investment vehicles so far this year. LOST LIMELIGHTA key driver behind the withdrawals from clean energy investment funds this year has been the relative attractiveness of other sectors, such as artificial intelligence. The clean energy space had outperformed other sectors, including technology, over the past two years, and so was likely due for a bit less investor attention this year. However, an equally important factor behind the outflows in clean energy has been the spate of high profile corporate and national disappointments in critical areas of the clean energy industry. In all, weak spots have emerged on key frontiers of the clean energy industry, which have justified the retreat in investment.

Persons: Gavin Maguire, Miral Organizations: Investors, Clean Energy, Outflows, First Trust, Energy, Carbon Energy, Robotics, Intelligence, Enphase Energy, European Commission, EV, Reuters, Thomson Locations: LITTLETON , Colorado, Britain, United States, Gulf, Mexico, U.S

☆ Stocks making the biggest moves midday: Marathon Petroleum, Tesla, Moderna and more
▼ + stars: | 2023-09-18 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Moderna — The pharmaceutical company lost more than 8% Monday, making it the biggest decliner in the S&P 500. Enphase Energy — Shares lost 2.6% after Citi lowered its price target on shares to $170 from $209 while keeping its buy rating. The new price target implies 41% upside from Friday's close. Analyst Chris Quintero highlighted the growth opportunity for the company following a strong investment cycle. The investment bank bumped up the stock's price target to $40 from $37, citing Simply Good Foods' diverse product offering and shifting consumer preferences to healthier choices as catalysts.

Persons: Bernstein, Needham, Noubar Afeyan, Moderna's, Goldman Sachs, Mark Delaney, PayP, Ralph Lauren —, Ralph Lauren's, TD Cowen, Cowen, Tenable, Morgan Stanley, Chris Quintero, Raymond James, ASGN, Wells Fargo, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: — Petroleum refiners Valero Energy, Marathon Petroleum, West Texas Intermediate, Brent, Energy, Arm, Nasdaq, Securities and Exchange Commission, Pharmaceutical, Pfizer, U.S, Tesla, PayPal, MoffetNathanson, Guggenheim, Enphase Energy, Citi, Tenable Holdings, Mizuho, Aldi, Lowe's, Micron Technology, Deutsche Bank, Paramount, Disney, Warner Bros Discovery, Iridium Communications, Iridium Locations: Valero Houston, Houston , Texas, U.S

☆ August wholesale inflation rises 0.7%, hotter than expected, but core prices in check
▼ + stars: | 2023-09-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

On a 12-month basis, core PPI increased 2.1%, its lowest annual level since January 2021. Final demand goods prices rose 2% in August, the biggest one-month gain since June 2022. Services prices increased 0.2%. Compared to the monthly rise in CPI, retail sales in real terms were flat on the month. The retail report also reflected higher energy prices, as gas station sales rose 5.2%.

Persons: Dow Jones, That's Organizations: U.S . Department of Labor, Dow, PPI, CPI, Commerce Department, Markets, Dow Jones, Treasury, Federal Reserve, Group, Labor Department

☆ US consumer prices continued to rise last month — but the Fed probably won’t raise rates
▼ + stars: | 2023-09-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

However, core inflation, which strips out volatile food and energy prices, continued to slow, according to data from the Bureau of Labor Statistics released Wednesday. On a month-to-month basis, prices rose 0.6% in August, compared with a 0.2% gain in July. Monthly core inflation rose by 0.3% in August, picking up significantly for the first time since February. The CPI’s gasoline index jumped 10.6% in August from the prior month, up sharply from the 0.2% gain in July. Gasoline prices are highly visible indicators of inflation, so more pain at the pump could also weigh on US consumers’ moods.

Persons: Sarah House Organizations: DC CNN, Bureau of Labor Statistics, Federal, AAA, CNN Locations: Washington, OPEC, Libya, Wells

BP scaled back its energy transition strategy earlier this year but still stands out among rivals as the only oil major with plans to cut oil and gas output by 2030 by 25%. Auchincloss told staff in a brief town hall meeting on Wednesday that the company's aims were unchanged. As part of his energy transition strategy he had committed to BP reaching net-zero emissions by 2050. BP's strategy came under renewed scrutiny after rival Shell (SHEL.L) slowed down its energy transition strategy in June. "(The BP board) have enough flexibility within the current strategy to focus more on cash flow," a second source close to the company said.

Persons: Chris Helgren, Looney, Murray Auchincloss, Bernard Looney's, Auchincloss, hasn't, Helge Lund, Murray, Ron Bousso, Dmitry Zhdannikov, Jane Merriman, Mark Potter, Elaine Hardcastle Organizations: BP, REUTERS, Board, Investors, Canadian, Reuters, Shell, Thomson Locations: Vancouver , British Columbia, Canada

Megacap technology-related growth stocks dipped, with Alphabet (GOOGL.O) and Tesla (TSLA.O) falling, as investors fretted that interest rates could stay higher for longer. The tech-heavy Nasdaq (.IXIC) posted the biggest weekly decline of the three major indices. The Dow Jones Industrial Average (.DJI) rose 34.29 points, or 0.10%, to 34,510.38. The S&P 500 energy index (.SPNY) rose, with Exxon Mobil (XOM.N) among leading gainers. Shares of cryptocurrency firm Coinbase Global (COIN.O) fell and Riot Platform (RIOT.O) tumbled as bitcoin hit a two-month low.

Persons: Jason Reed, Estee Lauder, Jerome Powell, Nvidia's, Michael Reynolds, Amruta Khandekar, Saeed Azhar, Maju Samuel, David Gregorio Our Organizations: U.S . Federal, REUTERS, Federal, Nasdaq, Nvidia, Dow Jones, Walmart, Exxon Mobil, Treasury, Thursday, Hawaiian, Coinbase, Thomson Locations: Washington, Bengaluru, New York

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