U.S. stocks plunged to their worst loss of the year Monday and investors around the world scrambled to sell on worries about how much President Donald Trump's worsening trade war will damage the global economy. China let its currency, the yuan, drop to its lowest level against the dollar in more than a decade, a move that Trump railed against as "currency manipulation." It also halted purchases of U.S. farm products. The moves follow Trump's tweets from last week that threatened tariffs on about $300 billion of Chinese goods, which would extend tariffs across almost all Chinese imports. The escalating dispute between the world's largest economies is rattling investors unnerved about a global economy that was already slowing and falling U.S. corporate profits. The S&P 500 dropped 87.31 points, or 3%, to 2,844.74 for its worst loss since December, when the market was wrapped in the throes of recession fears. It was down as much as 3.7% in the afternoon. A crowd that gathered to … [Read more...] about S&P 500 Plunges in Worst Loss of Year as Trade War Escalates
Annual returns sp 500
Asian shares retreat after S&P 500 hits fresh record close
Elaine Kurtenbach, Ap Business Writer Updated 12:43 am PDT, Friday, June 21, 2019 Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 21, 2019. Shares retreated in Asia on Friday after a broad rally for stocks drove the S&P 500 index to an all-time high as weak manufacturing data from Japan helped dampen investor sentiment. less Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 21, 2019. Shares retreated in Asia on Friday after a broad rally for ... more Photo: Ahn Young-joon, AP Photo: Ahn Young-joon, AP Image 1 of / 4 Caption Close Image 1 of 4 Currency traders watch monitors at the foreign exchange … [Read more...] about Asian shares retreat after S&P 500 hits fresh record close
S&P 500 wipes out $4T in second-worst May since ’60s
Justina Lee and Vildana Hajric Bloomberg News Published 6:52 PM EDT May 31, 2019 If euphoria was the concern, you can stop worrying. With books now closed, the S&P 500 has formally delivered its worst May return in seven years and second-worst since the 1960s, falling 6.6%. For tech traders watching the Nasdaq 100, the experience was only a shade less harrowing than the crash months of October and December. Peace has been shattered, and for now, those voices calling for a 1990s-style melt-up have gone silent. As the U.S.-China trade spat escalates further and Donald Trump threatens higher tariffs on Mexican goods, this month’s $4 trillion global plunge is making dip-buying perilous. “Clearly there’s potential for further downside,” Steve Chiavarone, a portfolio manager with Federated Investors, said in an interview at Bloomberg’s New York headquarters. “For markets to really rebound, I now need positive clarity on China, Mexico, politics … [Read more...] about S&P 500 wipes out $4T in second-worst May since ’60s
Sempra expects to earn bigger annual returns from LNG project
Sempra Energy has made a huge investment in liquefied natural gas facilities and company executives said Wednesday that they expect bigger returns than first expected from a $10 billion project that’s about to launch. The first phase of the Cameron LNG facility on the Gulf Coast of Louisiana is anticipated to generate from $400 million to $450 million per year for the company, compared to earlier projections of $365 million to $425 million. “It’s truly a world-class project,” said Lisa Glatch, chief operating officer at Sempra LNG, at a presentation made by the company’s leadership team in San Diego before energy and utilities analysts, many representing Wall Street firms. The company said the improved estimates were due to the ability to finance costs of the project at lower interest rates and what Sempra Chief Financial Officer Trevor Mihalik said was “a tighter handle on the total construction costs” as the facility nears completion. … [Read more...] about Sempra expects to earn bigger annual returns from LNG project
ConocoPhillips only company in S&P’s 500 Energy Index up for the year
Simon Casey, Bloomberg 8:26 am CST, Wednesday, December 26, 2018 Ryan Lance, ConocoPhillips CEO. Ryan Lance, ConocoPhillips CEO. Photo: Melissa Phillip, Houston Chronicle / Staff Photographer Photo: Melissa Phillip, Houston Chronicle / Staff Photographer Image 1 of / 1 Caption Close Image 1 of 1 Ryan Lance, ConocoPhillips CEO. Ryan Lance, ConocoPhillips CEO. Photo: Melissa Phillip, Houston Chronicle / Staff Photographer ConocoPhillips only company in S&P's 500 Energy Index up for the year 1 / 1 Back to Gallery In a measure of how badly U.S. energy equities have fared this year, only one company in Standard and Poor’s 500 Energy Index has posted a year-to-date gain. … [Read more...] about ConocoPhillips only company in S&P’s 500 Energy Index up for the year