Power lines and transmission towers near the Ivanpah Solar Electric Generating System in the Mojave Desert in San Bernardino County, California, U.S., on Saturday, Feb. 19. 2022. Bloomberg | Bloomberg | Getty Images Artificial intelligence could strain the U.S. electric grid, as power demand from data centers is poised to surge in the coming decade … Read more
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway reached a $1 trillion market capitalization on Wednesday, the first nontechnology company in the U.S. to score the coveted milestone. Shares of the Omaha, Nebraska-based conglomerate have rallied more than 28% … Read more
U.S. crude oil fell nearly 2% Wednesday to trade around $74 per barrel, as the market continues to shed gains made earlier in the week on the threat of supply disruptions in Libya. “Oil prices remain range-bound, despite the potential of a large disruption in Libyan supplies and elevated tensions in the Middle East,” Amarpreet … Read more
Crude oil leaks from an oil pumping jack in an oil field in Russia. Bloomberg Creative | Bloomberg Creative Photos | Getty Images A political standoff in Libya risks once more paralyzing the north African country’s lucrative oil sector — but the frequency of its power tussles and crude disruptions have called long-term oil price … Read more
With fast-food customers revolting over higher prices, chains like McDonald’s, Burger King and Wendy’s are bringing back the value meal. Nearly 80% of Americans said they feel fast food has become a luxury and are eating out less, according to a LendingTree survey. To try to lure them back, fast-food chains have been touting their … Read more
The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. William West | AFP | Getty Images Asia-Pacific markets opened lower on Wednesday, ahead of Australia’s July inflation numbers. Minutes of the Reserve Bank of Australia’s last meeting revealed that the central bank had considered raising interest … Read more
Cryptocurrencies fell Tuesday evening as Asia futures pointed lower, triggering a wave of liquidations on the Bybit exchange. The price of bitcoin was last lower by 6.2% at $59,504.68, according to Coin Metrics. Ether tumbled more than 8% to $2,457.61. “Crypto markets moved down sharply, triggering a leverage driven liquidation,” said Steven Lubka, head of … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. Stocks were essentially flat Tuesday after the S & P 500 and Nasdaq kicked the week off in the red. Higher Treasury yields are a wrinkle in Tuesday’s action, making … Read more
U.S. crude oil futures slipped below $77 per barrel on Tuesday, after surging in the previous session on OPEC member Libya halting production and exports. Libya produces about 1.2 million barrels per day with the overwhelming majority of its crude exported to the global market, with European nations serving as the main buyers. U.S. oil … Read more
A meat counter showing a variety of sausages at a Fred Meyer grocery store, a sub of Kroger, in Palmer, Alaska. Michael Siluk | UCG | Universal Images Group | Getty Images An uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high prices. There … Read more
