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EIA reports weekly decline of 43 billion cubic feet in U.S. natural-gas suppliesExternal Link

Data from the U.S. Energy Information Administration Thursday showed that domestic supplies of natural gas fell by 43 billion cubic feet for the week ended March 24. That matched the decline expected by analysts polled by S&P Global Platts. Total stocks now stand at 2.049 trillion cubic feet, down 423 billion cubic feet from a year ago, but 250 billion cubic feet above the five-year average, the government said. May natural gas was down 3.5 cents, or 1.2%, from Wednesday's settlement at $3.196 per million British thermal units. It traded around that same level before the supply data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 30 Mar 2017 14:34:07 GMT
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ExxonMobil announces oil discovery in offshore Guyana External Link

Exxon Mobil Corp. said Thursday it has discovered a more than 82-feet-high well of high-quality, oil-bearing sandstone reservoirs on the Sabroek Block in offshore Guyana. The Snoek well is located in the southern part of the block, which covers 6.6 million acres, Exxon said in a statement. Shares were flat in early trading, and are down 9% in the year so far, while the Dow Jones Industrial Average has gained 4.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 30 Mar 2017 13:38:06 GMT
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Report: Trump administration studying ways to penalize currency manipulatorsExternal Link

The Trump administration is assessing the scope of its power to penalize countries whose currencies it believes are undervalued, CNBC reported, citing two people with direct knowledge of the review. President Trump so far has not made good on his promise to label China as a currency manipulator on day one of his presidency. One law the administration is looking at is the Trade Enforcement and Trade Facilitation Act, the report said, which would allow the president to block future federal contracts with those countries and to choke off government financing for U.S. businesses seeking to invest there.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 30 Mar 2017 13:32:39 GMT
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U.S. stocks open flat after 4th-quarter GDP revisionExternal Link

U.S. stocks opened flat after fourth-quarter gross domestic product was revised higher, a sign that U.S. economic growth is accelerating more quickly than some economists had expected. The S&P 500 index shed one point to 2,360, while the Dow Jones Industrial Average lost 2.5 points at 20,657. The Nasdaq Composite Index was off by one point at 5,897, on track for its first daily loss in a week. Stocks have largely recovered from a selloff that followed the withdrawal Friday of a plan backed by President Donald Trump to repeal and replace Obamacare, but investors are still waiting to see if tax reform, his next legislative priority, will face similar difficulties. Shares of Lululemon Athletica Inc. [s lulu] slumped after several analysts cut their price targets for the retailer's stock. Cenovus Energy Inc. shares tumbled after ConocoPhillips [c: cop] said it would sell its majority stake in its Canadian oil-sands assets to the company. Apple Inc. shares probably also merit watching, after finishing at a record high on Wednesday for the second straight day.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 30 Mar 2017 13:32:20 GMT
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Goodyear stock tumbles after Goldman Sachs downgradeExternal Link

Shares of Goodyear Tire & Rubber Co. fell 1% in premarket trade Thursday after the stock was downgraded to neutral from buy at Goldman Sachs. While expected demand for tire replacement remains high, the analysts say there is near-term pricing uncertainty as Goodyear announced price increases while raw material prices go down and rebate activity increases. Additionally, Goodyear's valuation is now more in line with its peers and already reflects these factors. The analysts cut their price target to $33 from $34. Shares of Goodyear have gained 17% in the past three months, compared to the S&P 500's gain of 5.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 30 Mar 2017 12:47:50 GMT
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