February 26, 2021: On Thursday, U.S. stock index futures were slightly down after the Dow Jones Industrial Average shut at a record high.
Contracts of the future are tied to the Dow that bounces increased 20 points. Nasdaq 100 futures shed around 0.8% as tech stocks again came under pressure. S&P 500 futures lost 0.3%. Tesla and Facebook shares fell in premarket trading.
First-time jobless claimed totalled 730,000 for the week ended February 20, versus a print of 845,000, economists expected polled by Dow Jones. In contrast, durable goods orders rose by 3.4% in January compared to a Dow Jones consensus of a 1.0% growth.
On Thursday morning, the Treasury yield ten years old has hit 1.46%, the highest level from February 2020. The rate of benchmark has increased 35 basis points this month. Even more high rates could spur investors to roll out of stocks and into bonds, and the growth-oriented technology sector can strike them.
Chief market strategist at LPL Financial, Ryan Detrick, said, “Our base case is that rates will continue to increase because of the rising growth and inflation expectations and, eventually, Federal Reserve normalization.”
GameStop, the controversial meme stock, is on the rise again. Shares were up above 50% in premarket trading after doubling in the previous session on a chief executive’s reported ousting.
The Dow jumped 425 points to close at a record high in a volatile session that at one point saw the 30-stock average drop more than 110 points on Wednesday.
“It seems pretty clear to us that the move in rates has been driven by growing optimism about economic growth, and rates are finally ‘catching up’ to the bullish growth outlook inequities,” said David Lefkowitz, head of equities Americas at UBS Global Wealth Management. “So equity investors should not be overly concerned.”
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector
It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.
Talking to Thomas Hundertmark, a senior partner in McKinsey’s Houston office, Darren Woods is chairman and CEO of ExxonMobil made some crucial points and also gave some insights on what the conglomerate was doing in order to save the climate.
Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.
Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.
The activation of the Fallon Two Rock solar farm project has recently bolstered the Californian energy …