| Symbol | Price | Change | %Change |
|---|---|---|---|
| SP500 | $4,360.18 | 31.36 | 0.72 |
Wall Street rallied after a round of reports suggested the economy is in better shape than feared. The S&P 500 rose 1.1% Tuesday, resuming its upward climb following a weeklong pullback after hitting its highest level in more than a year.
The Dow tacked on 211 points, or 0.6%, while the Nasdaq rose 1.6%. Airlines helped to lead the way after Delta said demand for travel still looks strong, particularly among high-income passengers. Delta rose 6.8%.
Readings released Tuesday morning on consumer confidence, sales of new homes and other areas of the economy all topped economists’ forecasts.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TSLA | $248.99 | 7.94 | 3.29 |
Tesla's electric-vehicle charging technology is being put on a fast track to become a U.S. standard, the automotive industry group of engineers that reviews standards said on Tuesday.
Tesla's NACS standard has been gathering momentum for weeks. General Motors and Ford have said they would embrace Tesla's NACS, shunning earlier efforts by the Biden administration to make the Combined Charging System (CCS) the dominant charging standard in the United States.
On Tuesday the Society of Automotive Engineers (SAE) said it would start an expedited process to review NACS as a potential public standard.
"The new SAE NACS connector standard will be developed on an expedited timeframe and is one of several key initiatives to strengthen the North American EV charging infrastructure," the engineers group said in a statement.
Spurred on by train derailments, some states with busy criss-crossing freight railroads are pursuing their own safety remedies rather than wait for federal action amid industry opposition and questions about whether they even have authority to make the changes.
Legislatures in at least a dozen states have advanced measures in recent weeks. In large part, states want limits on the length of trains that routinely stretch more than 2 miles long and on how much time trains can block road crossings — which can disrupt traffic and block emergency response vehicles.
They are also pursuing rules to maintain the current standard of two-person crews, bolster the trackside detectors used to identify equipment problems and require more notice to local emergency responders about hazardous freight.
The activity comes after a train carrying toxic chemicals derailed on Feb. 3 along the Ohio-Pennsylvania border.
{{#rendered}}| Symbol | Price | Change | %Change |
|---|---|---|---|
| CIR | $51.68 | 3.74 | 7.80 |
| KKR | $54.32 | 1.23 | 2.32 |
Circor International said on Tuesday it had accepted investment firm KKR's revised buyout offer of $1.7 billion, including debt, rebuffing a rival bid from an unnamed third party.
Shares of the industrial machinery maker hit a more than five-year high of $51.87 in early trading, slightly above KKR's revised offer price of $51 per share.
KKR sweetened its offer after Circor received an unsolicited buyout proposal for $52.65 per share in cash, Circor said. KKR has also agreed to provide a full equity backstop to implement the merger.
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman earlier this month outlined one of the biggest reforms at OPEC in recent years and presented it as a reward for countries that invest in their oil industry.
The change clears the way for giving larger production quotas to OPEC Gulf members such as Saudi Arabia, the United Arab Emirates and Kuwait at the expense of African nations such as Nigeria and Angola.
Production quotas and baselines, from which production cuts are calculated, have been a sensitive subject within OPEC for decades as most producers want a higher quota so they can earn more from oil exports.
The shake-up is likely to become more extreme in the next few years as Middle Eastern state oil majors ramp up investments while production falls in African nations that have struggled to attract foreign investment.
Farmers markets gave people something they desperately sought during the pandemic: A place to shop outdoors, and at the same time support smaller, often local businesses.
The markets are now building on that goodwill as the customers that became regulars and the vendors who set up shop in 2021 and 2022 return for the new season. Back in 2020, the markets were deemed non-essential and had been forced to close.
Small vendors ranging from farm stands to dog treat makers say the markets offer them access to customers and a connection to the community.
{{#rendered}}| Symbol | Price | Change | %Change |
|---|---|---|---|
| F | $14.21 | 0.10 | 0.71 |
Ford Motor Co said on Tuesday it will begin layoffs this week, impacting mostly engineering jobs in the U.S. and Canada, as part of the Detroit automaker's move to exit unprofitable locations and cut headcount.
The development comes after the company said in May it expects to take up restructuring charges between $1.5 billion and $2 billion in 2023.
The automaker did not specify the number of roles to be affected by the move. "People affected by the changes will be offered severance pay, benefits," Ford said.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| STLA | $16.75 | 0.15 | 0.93 |
Stellantis says it is pulling together a network of public electric vehicle chargers that could include Tesla and nearly all of the other chargers in the U.S., Canada and Europe.
But executives wouldn’t say for certain if the company will follow Ford and General Motors and sign up with Tesla’s Supercharger network or adopt Tesla’s connecting plug. Senior Vice President Ricardo Stamatti says a decision on Tesla will be announced soon.
Stellantis is signing up charging companies now. The networks on both continents are to start late this year and have better pricing than the standard charging company rates, Stamatti said. He wouldn’t say how many chargers Stellantis has lined up or identify which vendors.
Coverage for this event has ended.