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Stocks mostly follow crude, yields lower; tech shakes it off

Stocks mostly follow crude, yields lower; tech shakes it off 07/06/2021 | 05:55pm EDT Send by mail : Message : Required fields NEW YORK (Reuters) - Global stocks mostly fell Tuesday along with bond yields and crude prices, as China s latest tech crackdown and expectations of a hawkish Fed report on Wednesday waved red flags at investors. The dollar edged higher. The tech-heavy Nasdaq Composite index withstood the stocks downdraft. After falling nearly 1% by mid-day, it rallied to close up 24.32 points, or 0.17 percent, at 14,663.64. Earlier, Chinese regulators cracked down on U.S.-listed ride-hailing company Didi Global Inc, sending its shares down more than 20%. Other U.S.-listed Chinese e-commerce firms, including Alibaba Group, Baidu Inc and JD.com, fell 3.5% to 4.6%.

U S shale firms hesitate to pump - or hedge - more, despite oil high prices

Article content NEW YORK OPEC’s sudden disarray would seem to be an opportunity for U.S. shale producers to lock in profits, with oil prices near multi-year-highs, but sources at those companies say they are not taking chances with the market’s volatility. Shale producers are famous for boosting output whenever oil prices surge. However, the shale industry has been notably restrained so far this year even as oil surged past $70 a barrel. They have maintained a lower level of production after vowing to investors that they would hold the line on spending to boost returns. We apologize, but this video has failed to load.

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