3.24 +0.04 (1.25%)
After hours: 4:48PM EST
|Bid||3.23 x 4700|
|Ask||3.24 x 5700|
|Day's Range||2.86 - 3.33|
|52 Week Range||2.53 - 6.59|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 22, 2018|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||4.42|
Gains in industrial and technology shares helped U.S. stocks rebound from a two-day fall on Thursday as investors shrugged off the prospects of more interest rate hikes this year. Minutes of the Federal Reserve's latest meeting showed on Wednesday that the policymakers were more confident in the need to keep raising rates, with most believing inflation would perk up.
Stocks boomed and long-term interest rates fell this morning as Wall Street took another, third look at the Federal Reserve’s latest public comments. The broad large-cap S&P 500 and the small-cap Russell 2000 indexes also rose about 1%, while the Nasdaq Composite gained 0.74%. Stocks gained as the yield on Treasury bonds fell.
The largest exchange-traded fund to track the energy sector rallied on Thursday, advancing alongside a gain in the price of crude oil, as well as positive corporate results. The Energy Select Sector SPDR ...
Chesapeake Energy Corp said it expects production to keep rising this year, despite a 12 percent cut in spending, sending the U.S. natural gas producer's shares up nearly 23 percent on Thursday. While that growth rate is the same as last year, it will come off a planned capital budget of $1.96 billion to $2.38 billion for 2018, which at the mid-point is 12 percent lower than last year. Since crude oil prices crashed in 2014, U.S. energy producers have been curbing costs, while aiming to boost output through new technology such as processing seismic data better, improving reservoir models and drilling more efficient wells.
Shares of Chesapeake Energy pop after the shale gas pioneer reported quarterly profits and revenues that beat expectations.
Keith Bliss of Cuttone and Company joins Yahoo Finance's Seana Smith from the floor of the New York Stock Exchange for more on the markets.