Energy Pipelines’ Bad Year Has a Silver Lining

Low oil prices aren’t exactly at the top of pipeline operators’ wish lists, but they do come with one possible upside: They could help boost the value of existing infrastructure. Depressed oil demand has led energy companies across the value chain—from those pumping it, to those transporting, refining and converting it into other products—to holdContinue reading “Energy Pipelines’ Bad Year Has a Silver Lining”

Trump-Era Tax Rule Benefiting Some Multinationals May Get Revised Under Biden

WASHINGTON—A Trump administration regulation that cut the tax bills of companies such as Philip Morris International Inc. and Sealed Air Corp. could be poised for reversal in 2021 as the Biden administration tries to deliver on its campaign promise to raise taxes on corporations. The rule, which gives some corporations a path out of aContinue reading “Trump-Era Tax Rule Benefiting Some Multinationals May Get Revised Under Biden”

Covid-19 Resurgence and the Election Changed Calculus for Aid Negotiators

WASHINGTON—When Rep. Ro Khanna called for Democrats to embrace a $1.8 trillion deal with the White House back in mid-October, House Speaker Nancy Pelosi wasn’t happy. “Ro Khanna, that’s nice. That isn’t what we’re going to do,” Mrs. Pelosi said on CNN, when asked about a tweet from her fellow California Democrat urging leaders to finalize anContinue reading “Covid-19 Resurgence and the Election Changed Calculus for Aid Negotiators”

U.S. Stocks Edge Lower as Covid-19 Cases Rise

The Dow Jones Industrial Average slipped Monday, after hitting a record last week, as investors worried that elevated Covid-19 infection levels could weigh on economic growth through the winter months. The blue-chip index fell 165 points, or 0.6%, in morning trading. The S&P 500 declined 0.2%, while the technology-heavy Nasdaq Composite rose 0.5%. Stocks have rallied toContinue reading “U.S. Stocks Edge Lower as Covid-19 Cases Rise”

U.S. trade deficit widens in October

The numbers: The U.S. trade deficit widened by 1.7% in October, the Commerce Department said Friday. The trade gap widened to $63.1 billion in October from a revised $62.1 billion in the prior month. The forecast of economists polled by MarketWatch expected a deficit of $64.7 billion. What happened: Both imports and exports had strong gains inContinue reading “U.S. trade deficit widens in October”

U.S. Added 245,000 Jobs Last Month as Hiring Slowed

U.S. job growth slowed sharply in November, suggesting the labor-market recovery is losing steam amid a surge in coronavirus cases and new business restrictions. Employers added 245,000 jobs last month, less than half the 610,000 jobs added in October, the Labor Department reported Friday. The unemployment rate edged down slightly to 6.7% in November from 6.9% a monthContinue reading “U.S. Added 245,000 Jobs Last Month as Hiring Slowed”

OPEC, Allies Near Agreement for Small Production Increase

The Organization of the Petroleum Exporting Countries and its allies are closing in on an agreement to modestly boost their collective oil output by as much as 500,000 barrels a day starting next month, people familiar with the matter said. The agreement would mark a compromise among some of the world’s biggest producers as theyContinue reading “OPEC, Allies Near Agreement for Small Production Increase”

The Market Should Worry About 2022, Not 2021

Amid a wave of optimism in financial markets, investors can relax about the expected profit rebound in 2021. They might worry more about 2022. Even as Western nations struggle to contain another jump in Covid-19 infections, most S&P 500 sectors are now up year-to-date. Yet equities didn’t get much of a boost Wednesday when the U.K.Continue reading “The Market Should Worry About 2022, Not 2021”