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☆ China is flexing its missile arsenal in a new simulation for a mass Taiwan attack as the US watches Beijing's Rocket Force closely
▼ + stars: | 2024-05-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewChina's Eastern Theater Command on Friday released a simulation video of its missile forces carrying out a mass attack on Taiwan, boasting its land, sea, and air launch capabilities. "Destroy the pillar of Taiwanese independence! Strike the base camp of Taiwanese independence! Related storiesBeijing's missile forces have developed rapidly in recent years, alarming US officials who are now scrutinizing its arsenals and assets. Taiwan, recognizing the Chinese missile threat, has been stocking up on US-manufactured Patriot missiles.

Persons: —, CapwDFZyds, They're, Lai Ching, Lai, Tsai Ing Organizations: Service, Command, Business, People's Liberation Army, PLA, Taiwan, Pentagon, Liberation Army Rocket Force, Eastern Theater Command, Patriot, Coast Guard, Navy, Democratic Progressive Party Locations: Taiwan, Taipei, Hualien, Kaohsiung, China, Beijing

☆ Oil steady as investors weigh U.S. rate fears, firmer seasonal demand
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: +2 min

Oil prices were stable on Friday as investors considered the latest comments from the U.S. Federal Reserve on interest rates amid sticky inflation, while signs of firming seasonal U.S. fuel demand lent support. Brent crude futures rose 2 cents at $81.38 a barrel at 0315 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 1 cent at $76.86. Both benchmarks settled at multi-month lows on Thursday, with Brent crude futures closing at their weakest point since January and U.S. crude futures hitting a three-month low. Gasoline demand in the U.S. reached its highest level since November, the Energy Information Administration (EIA) said on Wednesday. That helped support the market as U.S. drivers account for around a tenth of global oil demand, "making the upcoming driving season a pillar of the recovery in global demand growth", ANZ analysts said in a note.

Persons: Priyanka Sachdeva, Phillip Nova, Jerome Powell Organizations: U.S . Federal Reserve, Brent, U.S, West Texas, Energy Information Administration, ANZ, Organization of, Petroleum, OPEC Locations: Fort Stockton , Texas, U.S

☆ This DoubleLine bond fund is beating the market. Here's what it's buying
▼ + stars: | 2024-05-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A bond fund run by two of the top names at DoubleLine is outpacing the broader market by being defensive without fully committing to an imminent recession. The DoubleLine Opportunistic Bond ETF (DBND) has a total return of 3.2% over the past year. That's more than the broadest bond funds, such as the iShares Core U.S. Aggregate Bond ETF (AGG) , and the category indexes for the ETF as determined by FactSet and Morningstar. "Given where yield levels are, you're paid relatively well just to be in the higher credit quality," Sherman said.

Persons: Morningstar, Jeffrey Sherman, Jeffrey Gundlach, Sherman, Bonds, it's Organizations: Bond, Aggregate Bond, FactSet, SEC, CNBC, Federal Reserve Locations: DoubleLine, Treasurys

☆ Oil prices fall on worries of higher U.S. interest rates
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +2 min

An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand. Brent crude futures fell 27 cents, or 0.3%, to $81.63 a barrel at 0004 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 35 cents, or 0.5%, at $77.14. Higher interest rates boost borrowing costs, crunching funds that could boost economic growth and oil demand.

Persons: Brent Organizations: Brent, . West Texas, Federal, Energy Information Administration, Organization of, Petroleum, Secretariat, Russian Energy Ministry, Wednesday, Citi Research, Citi Locations: Cushing , Oklahoma, U.S, Russia, OPEC

☆ Oil prices fall on fear of high U.S. interest rates depressing demand
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.

Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC

☆ Brent oil gains after Iran's President dies, Saudi flags issue with King's health
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +3 min

Brent crude futures extended gains on Monday, inching up amid political uncertainty in major producing countries after Iran's president died in a helicopter crash and the Saudi crown prince cancelled a Japan trip, citing health issues with the king. Brent gained 10 cents, or 0.1%, to $84.08 a barrel by 0454GMT, after rising to $84.30 earlier, its highest since May 10. He added that WTI prices may rebound further toward $83.50 after rising above the 200-day moving average of $80.02. Despite the volatility in the region, oil prices moved only slightly. "Continuity in Saudi strategy is expected regardless of this health issue," he added.

Persons: Brent, Ebrahim Raisi, Saudi Arabian Crown Prince Mohammed bin Salman, King Salman, Yoshimasa Hayashi, Tony Sycamore, Sycamore, Warren Patterson, Patterson, Saul Kavonic, Prince Mohammed Bin Salman's Organizations: Brent, . West Texas, Saudi, Saudi Arabian Crown, Iranian, IG, ING, The, of, Petroleum, Petroleum Reserve Locations: Fort Stockton , Texas, Saudi, Japan, East Azerbaijan, Saudi Arabian, China, U.S, United States, Washington

☆ There’s more than one way to access this asset offering tax-free income. How to make the right choice
▼ + stars: | 2024-05-20 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Muni bonds are beloved by wealthy investors because they offer income that's free of federal taxes. Muni bond ETFs and mutual funds, meanwhile, don't have a definite maturity date and their price can fluctuate while the investor is holding them. Liquidity needs are also a major factor, with individual bonds potentially being hard to sell if an investor has a cash need. Since these funds offer a fixed number of shares, they trade at a discount or premium to their net asset value. Some of these funds hold municipal bonds and are trading at sharp discounts to their net asset value, potentially making them an attractive purchase.

Persons: Kathleen McNamara, there's, muni, he'll, Beth Foos, James Ritzema, Baird, Jon Browne Organizations: Federal Reserve, UBS, tradeoffs Investors, SEC, Investors, Morningstar, RiverNorth Locations: Americas, –

☆ The charts indicate a long-term turnaround underway in natural gas. Here's a stock to play it
▼ + stars: | 2024-05-20 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

Natural gas futures have cleared their 200-day moving average and appear to have entered a long-term basing process. Given the potential for a long-term turnaround phase in natural gas prices, we were drawn to the energy sector as a source of potential long-term stock opportunities. Secondary resistance for natural gas comes from a Fibonacci retracement level near $3.50/MMBtu. How to play it One of the natural gas-related stocks that sets up well from a technical perspective is Cheniere Energy (LNG) , which is a provider of liquified natural gas. Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only.

Persons: Katie Stockton Organizations: Energy, Fairlead, CNBC Pro, Securities

The question for some of us is, why some people want to keep working decades beyond retirement age? CNN Opinion editor Stephanie Griffith asked seven people who are past the conventional retirement age why they are still at the job and got as many responses as there were respondents. They continue to work happily and productively, and were happy to explain to us how and why they do it. Over the years I’ve had to adapt frequently to the changing technology, which isn’t always easy for someone my age. That may be the secret of working well past the time society tells us we’re supposed to retire.

Persons: CNN —, Howard Tucker, Tucker, he’ll, ” Tucker, Joe Biden, Donald Trump —, Trump, ageist, Biden, Stephanie Griffith, Vincent, Austin Tucker, I’ve, isn’t, “, Taylor Taglianetti, Gayle Fleming, it’s, I’m, —, Gayle Fleming Michael Ventura, Biden —, Charles Simon, Ana Marie Forsythe, Alvin, Ana Marie Forsythe Kyle Froman, — Joyce Trisler —, Joyce, She’d, Lester Horton, Alvin Ailey, Ailey, Ailey School Martha Graham, José Limón, Horton, don’t, Marjorie Perces, Cheryl Bell, didn’t, Babette Coffey, you’ve, you’re, David A, I, Pamela S, Donald Trump, Maggie Mulqueen, Alan Steele, Joan Steinau Lester, ”, Carole Johnson, — I’m, Octogenarians Organizations: CNN, Records, Biden, Vincent Charity Medical Center, Case Western Reserve University, St, AI Society, Computer, MSNBC, Society, Alvin Ailey School, Dance Media, Juilliard, Ailey School, Alvin, Alvin Ailey American Dance, Vassar College, Ailey, Horton Department, The New York Times, CBS, American, French Legion of, Social Security, Twitter Locations: Ohio, St, Cleveland, one’s, Seattle , Washington, Cambridge , Massachusetts, West, Horton, New York City, ”, Brookline , Mass, drmaggiemulqueen.com

☆ Nvidia’s earnings will be in focus next week as stocks try to sustain record levels
▼ + stars: | 2024-05-17 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 broke above 5,300, also for the first time. The S & P 500 has notched record close after record close in 2024. This quarter, the top-performing S & P 500 sector is utilities, higher by 9%, followed by communication services, up by 4%. The S & P 500 and Nasdaq Composite each closed out a fourth straight week of gains. Sustaining all-time highs Nvidia's earnings will also be a key catalyst at a time when technicians are watching to see whether stocks can sustain the record levels they reached this week.

Persons: what's, they're, Jay Woods, hadn't, Piper Sandler's Harsh Kumar, Kumar, Jensen Huang, Blackwell, Zachary Hill, Chris Zaccarelli, Zaccarelli, Woods, Katie Stockton, Stockton, TJX Cos, Raymond James Thursday, Ralph Lauren Friday, Nick Wells Organizations: Nvidia, Federal Reserve, Dow Jones, Freedom Capital, Dow, Nasdaq, Independent, Alto Networks, Devices, Target, Chicago, PMI, New, . Kansas City Fed, Intuit Locations: Stockton, . Kansas

☆ Oil set for weekly gain on signs of improving demand
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States. Brent crude oil prices rose 21 cents, or 0.3%, to $83.48 a barrel by 0018 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.2%, to $79.41 a barrel. Brent futures are set to rise about 1% on a weekly basis, and WTI futures are set to gain 1.4%. Recent declines in oil and refined products inventories at major global trading hubs have created optimism over oil demand growth, reversing a trend of rising stockpiles that had weighed heavily on crude oil prices in prior weeks.

Persons: Brent, Alex Hodes Organizations: . West Texas, Brent, ., Financial, Federal Reserve Locations: Tutong district, Brunei, United States, U.S, Europe's Amsterdam, Rotterdam, Antwerp

☆ Biden’s trade chief walks back comments contradicting Biden on tariffs and inflation
▼ + stars: | 2024-05-16 | by ( Matt Egan | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.

Persons: Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe

☆ Oil prices rise on moderate U.S. inflation data, strong demand
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand. U.S. crude oil, gasoline and distillate inventories fell, reflecting a rise in both refining activity and fuel demand, showed data from the Energy Information Administration, or EIA. Crude inventories fell 2.5 million barrels to 457 million barrels in the week ended May 10, the EIA said, versus the 543,000 barrel consensus analyst forecast in a Reuters poll. Signs of slowing inflation and stronger demand were supporting prices, ANZ Research said in a client note, as is geopolitical risk which it said remains elevated. Gains were constrained after the IEA trimmed its forecast for 2024 oil demand growth, widening the gap between its view and that of producer group OPEC.

Persons: Brent Organizations: U.S, West Texas Intermediate, Federal Reserve, Energy Information Administration, EIA, ANZ Research, OPEC, Global, Organization for Economic Co Locations: Nolan , Texas, U.S, East, Gaza, Rafah, Qatar, Egypt, Israel

☆ Oil prices hold firm as crude inventories fall and U.S. inflation eases
▼ + stars: | 2024-05-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Oil prices held firm Thursday as stockpiles in the U.S. fell for a second week and inflation eased. U.S. crude stockpiles declined by 2.5 million barrels last week as refiners processed more crude in a sign that demand might be perking up. With inflation easing slightly in April, futures traders penciled in a higher probability that the Federal Reserve might cut interest rates in September. Lower interest rates help stimulate the economy which can boost crude oil demand. Here are today's energy prices:

Persons: Brent Organizations: Federal Reserve, West Texas Intermediate Locations: Fort Stockton , Texas, U.S

☆ With S&P back at new highs, now come the price target and earnings revisions
▼ + stars: | 2024-05-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Now that the S & P 500 and most major stock market indexes are at or near historic highs, expect a raft of earnings and year-end price target revisions for the S & P 500 to be coming. First up with an upward revision was Brian Belski at BMO Capital, who Wednesday raised his year-end S & P target to 5,600 from 5,100. The median price target (half above, half below) is 5,200. Earnings for the rest of the year have been remarkably stable, but the key point is that each quarter is higher and a record for S & P 500 profits: 2024 S & P 500 quarterly earnings estimates Q2: $59.46 (record) Q3: $63.49 (record) Q4: $65.08 (record) Source: LSEG Valuations (roughly 20 times forward S & P 500 earnings) are pricey but not unreasonable given the continuing strength of the economy and the prospects of AI-boosted returns. May: market advance broadens (advance/decline line) S & P 500: near new high S & P Mid Cap: new high S & P Small Cap: highest since Dec.

Persons: Sam Stovall, CFRA, Brian Belski, Belski, Subramanian, Venu Krishna, Goldman Sachs, David Kostin, Ned Davis, Ed Clissold, Oppenheimer, John Stoltzfus, Lori Calvasina, Manish, Nicolaus, Barry Banniester, Jonathan Golub, Chris Harvey, Dubravko, Bujas, Cantor Fitzgerald, Eric Johnson, Scott Chronert, Julian Emanuel, Fundstrat, Tom Lee, Morgan Stanley, Mike Wilson, Hugo Ste, Stovall Organizations: BMO Capital, Wall, of America, Barclays, BMO, RBC, Societe Generale, UBS, Bloomberg, Citigroup, Deutsche Bank, ISI, JPMorgan, Scotiabank, @VX Locations: Wells Fargo, Marie

☆ This is the sweet spot in bonds right now, according to Wells Fargo — and it can yield up to 5%
▼ + stars: | 2024-05-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

As investors navigate the Federal Reserve's higher-for-longer interest rate policy — and eventual rate cuts down the road — they should make sure they have their fixed-income portfolio positioned properly, according to Wells Fargo. The Fed last raised rates in July 2023, bringing the fed funds rate to a range of 5.25% to 5.5%. But investors were buoyed by news Wednesday that the consumer price index showed inflation eased slightly in April. Right now, Wells Fargo anticipates two rate cuts this year and just one in 2025, bringing the Fed's target rate to a range of 4.5% to 4.75% by the end of next year, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. Investors can get exposure to intermediate-term bonds through mutual funds or exchange-traded funds.

Persons: Jerome Powell, Wells, Scott Wren, Wren Organizations: Federal, Wells, Wells Fargo Investment Institute Locations: Wells Fargo

☆ Oil prices rise on U.S. inventories drawdown expectations, CPI focus
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

U.S. crude oil inventories fell 3.104 million barrels in the week ended May 10, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.269 million barrels and distillates rose by 673,000 barrels. "Expectations of another drawdown in U.S. oil inventories should support oil prices," ANZ Research said in a note. Oil prices also found support from a softer U.S. dollar and stimulus measures from China, said independent market analyst Tina Teng, with a weaker greenback making dollar-denominated oil cheaper for investors holding other currencies. "The U.S. CPI and China's economic data are key to driving oil prices for the rest of the week," she added.

Persons: David Knox, Petra Nova, Brent, Tina Teng, Teng Organizations: NGR Energy, JX Nippon Oil & Gas Exploration Corporation, WA Parish, U.S, . West Texas, American Petroleum Institute, ANZ Research, Federal, CPI Locations: NGR, Bend County, Petra, WA, China, Fort McMurray

☆ Top bond fund manager Ford O'Neil of Fidelity reveals his 'secret sauce' to generate outperformance
▼ + stars: | 2024-05-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

He previously took home the title of Morningstar fixed-income manager of the year in 2016. Generating long-term outperformance The largest among the many funds O'Neil co-manages is the Fidelity Total Bond Fund (FTBFX), which has $35.8 billion in assets and a 5.32% 30-day SEC yield. From December 2004 through the end of March 2024, Fidelity Total Bond Fund's 3.7% annualized gain topped the typical intermediate core-plus bond Morningstar Category fund's 3.3% and the 3.1% of its benchmark, the Bloomberg U.S. The 'secret sauce' The fixed-income team also benefits from teaming up with equity analysts when they talk to corporate executives, public agencies and government issuers. "If you're a buyer of nominal yields, you're finding the market very attractive.

Persons: Fidelity's Ford O'Neil, O'Neil, O'Neil —, Morningstar, Ford …, Dan Culloton, Morningstar's Culloton, FTBFX, it's Organizations: Fidelity, Harvard University, One, CNBC, Harvard, Bond Fund, SEC, Bloomberg U.S, Total Bond, Bond, Federal Reserve, Fed, Treasury Locations: Wharton, U.S

☆ This agricultural trade is bottoming with more upside likely ahead, according to the charts
▼ + stars: | 2024-05-13 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: MOO, Katie Stockton Organizations: Deere, Co, Teucrium Wheat, Fairlead, CNBC Pro, Securities

☆ The US Army's new plan to counter Russia and China has a glaring problem, experts say
▼ + stars: | 2024-05-11 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

The 2024 Army Force Structure Transformation would be the Army's fifth major reorganization since 2003. The most striking aspect of the Army's plan is the large number of new units, for counter-drone protection as well as air and missile defense. In addition, there would be nine counter-small UAS batteries tasked with destroying small drones, and four more Maneuver Short Range Air Defense (M-SHORAD) battalions to stop manned aircraft, helicopters and drones. Monica K. Guthrie/US ArmyThe Army is also basing its plans on untried weapons, such as the Long-Range Hypersonic Missile and air defense lasers. China and Russia have much stronger air and missile forces than the regional opponents the army has faced for the last generation."

Persons: Monica K, Mark Cancian, Cancian, Michael Peck Organizations: Service, US Army, 2024, Army, Business, Congressional Research Service, Congress, Air Defense, Domain, Forces, CRS, Special Operations Forces, Security Force, Guthrie, Energy, Center for Strategic, International Studies, US, Nuclear Forces, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Russia, China, Soviet Union, Ukraine, Forbes

☆ Oil prices up on stronger Chinese data, Middle East conflict
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Friday, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results. In the previous session, oil prices edged up to a one-week high on data of rising crude oil imports in China in April and as investors saw the cooling U.S. job market as an indication of possible interest rate cuts. China's exports and imports returned to growth in April after contracting in the previous month, signaling an improvement in demand. "Ongoing signs of strength in demand in China should see commodity market remain well supported," ANZ Research said in a note. Daly did not say if she felt the U.S. central bank was likely or not to cut interest rates this year.

Persons: Brent, Mary Daly, Daly, Benjamin Netanyahu, Joe Biden's Organizations: U.S, West Texas, ANZ Research, San Francisco Federal, Financial Locations: China, Israel, U.S, Rafah, Gaza, Cairo

☆ Oil rises on U.S. crude storage draw, Fed rate cut hopes
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +1 min

An oil pump jack at the New Harmony Oil Field in Grayville, Illinois, US, on Sunday, June 19, 2022. Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signaled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Crude inventories dropped last week by 1.4 million barrels to 459.5 million barrels, according to the Energy Information Administration, more than analysts' expectations in a Reuters poll for a 1.1 million-barrel draw as refinery activity increased. Increasing expectations that the U.S. central bank will cut interest rates by year end after weaker-than-expected U.S. jobs data also boosted oil prices. Lower interest rates can increase spending on crude oil.

Organizations: New Harmony Oil, Federal Reserve, Brent, . West Texas, Energy Information Administration, EIA Locations: Grayville , Illinois, U.S, Gaza, Israel

☆ Oil prices edge lower on rising U.S. stockpiles
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell in early Asian trading hours on Wednesday after market sources said that data from the American Petroleum Institute showed an increase in U.S. crude and fuel stockpiles, an indicator of weak demand. Brent crude oil futures fell 21 cents, or 0.3%, to $82.95 a barrel by 0020 GMT. U.S. crude stocks rose by 509,000 barrels in the week ended May 3, market sources said citing American Petroleum Institute figures. Analysts polled by Reuters expect U.S. crude oil inventories to have fallen by about 1.1 million barrels last week. Hopes of a ceasefire in Gaza have also put pressure on oil prices in recent sessions.

Persons: Bill Burns, Benjamin Netanyahu Organizations: American Petroleum Institute, Brent, . West Texas, Official U.S, Reuters, EIA, Hamas, U.S . Central Intelligence Agency, Wednesday, Israeli, U.S Locations: Gaza, U.S, Israel

☆ Mammograms are now recommended starting at age 40. Should you get one?
▼ + stars: | 2024-05-08 | by ( Katia Hetter | ) edition.cnn.com time to read: +9 min

CNN —An influential group of medical experts, the US Preventive Services Task Force, recommended last week that most women receive a mammogram starting at age 40. People should now starting getting mammograms at age 40, according to new recommendations. According to a study in the journal Lancet Oncology, the mortality from breast cancer could be lowered by starting mammograms earlier, at age 40. A woman who has a sister, mother or other first-degree relative with breast cancer has double the average risk of breast cancer. Wen: Someone who has a family history of breast cancer may be recommended for genetic testing.

Persons: Leana Wen, Wen Organizations: CNN, US Preventive Services Task Force, George Washington University, Getty, American Cancer Society, Preventive, Force, White, Oncology, The American College of Obstetricians, American, of Radiology Locations: United States

☆ Bank of America says do not sell in May and go away
▼ + stars: | 2024-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should ignore the adage about selling off equities in May as a big preelection summer rally could be coming, according to Bank of America. "Do not sell in May and go away," Stephen Suttmeier, the firm's technical research strategist, told clients in a Tuesday note. He pointed to the fact that June through August has been the second strongest three-month stretch for the S & P 500 for all years since 1928. In those three months alone, the broad market index has gained 65% of the time with an average return of 3.2%, according to Bank of America data. .SPX YTD mountain S & P 500, YTD And there's a key factor Suttmeier sees changing the narrative for the better this year: the presidential election.

Persons: Stephen Suttmeier, It's, Jerome Powell, Suttmeier, Williams Organizations: Bank of America, Dow Jones, Federal

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