Author: News Room

MEMPHIS, TN – In a recent transaction, Kathryn D. Sullivan, a director at International Paper Co (NYSE:), sold 600 shares of the company’s common stock at a price of $36.09 per share. The sale, which took place on March 15, 2024, resulted in a total transaction value of approximately $21,654. The transaction was executed automatically in accordance with a pre-established trading plan known as a Rule 10b5-1 plan, which Sullivan had adopted on November 14, 2023. Such plans allow company insiders to sell shares at predetermined times to avoid accusations of trading on non-public information. Following the sale, Sullivan’s holdings…

By Arathy Somasekhar HOUSTON (Reuters) -U.S. oil stocks in the Strategic Petroleum Reserve (SPR) at year-end will be at or exceeding the level that would have existed prior to massive sales two years ago, U.S. Energy Secretary Jennifer Granholm said on Monday. Stocks will reach those levels in part on the cancellation of congressional-mandated sales of about 140 million barrels, the secretary added. The reserve currently holds about 362 million barrels, down from 638 million three years ago. Other congressionally mandated sales may also be canceled, Granholm said. Having the SPR refilled is a congressional priority and “that’s a conversation…

Gas price inflation is back. For the first time since late last year, prices at the pump are now higher on a year-over-year basis. It’s a trend that industry experts expect to continue in the coming weeks and months, especially if Russian oil facilities continue to get hit by drone attacks. This is an unwanted development for consumers heading into the spring. It’s also a problem for White House and Federal Reserve officials hoping to declare victory over inflation. The recent jump in gas prices is already causing headaches on the inflation front. Gas was the main culprit behind last…

GBP/USD hold steady as BoE, Fed decisions loom. US homebuilders’ confidence rises, mortgage rates may drop if Fed eases. UK inflation data pivotal for Sterling pre-BoE decision. The GBP/USD is under pressure as unexpected UK CPI may alter BoE policy. The Pound Sterling losses steam and treads water against the US Dollar as traders prepare for the announcement of major central banks’ monetary policy decisions. The Bank of England and the US Federal Reserve are expected to hold rates unchanged, though a ‘hawkish tilt’ of the Fed might weigh on Sterling; the GBP/USD trades at 1.2727, barely down 0.04%. Sterling…

It has been a quiet day in the crypto space, but Avalanche (AVAX) and Solana meme coin darling Dogwifhat (WIF) are defying the trend. The global cryptocurrency market cap today sits at a whopping $2.69 Trillion, marking a modest 1.9% change in the last 24 hours, according to data from Coingecko. In the top 10, all coins except for Solana (SOL) and Avalanche (AVAX) have registered changes of less than 1%. Solana is up by a respectable 8%, but the real showstopper in the group has been AVAX, which has skyrocketed by a staggering 13.5%. AVAX, which was priced at…

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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 Monday’s key moments. U.S. stocks jumped Monday as the Nasdaq and S & P 500 attempts to recover from back-to-back weekly losses. Major gains were seen in tech stocks to start the new week. Nvidia shares rose as the company kicks off its GTC developers conference and investors await CEO Jensen Huang’s keynote address. Apple and Alphabet gained ground after media reports indicated that Google may help power future AI features on the iPhone. Jim Cramer said this…

President Joe Biden spoke by phone Monday with Israeli Prime Minister Benjamin Netanyahu, their first known interaction in more than a month as a rift deepens between the two men over the war in Gaza. During the call, the White House said the leaders discussed two key areas where tension has emerged in the relationship, including the necessity of getting more humanitarian aid into Gaza and the pending Israeli operation in Rafah, where more than a million Palestinian civilians are sheltering. Monday’s phone call came days after one of Biden’s top allies in Washington, Senate Majority Leader Chuck Schumer, called…

A clip of a heated conversation between Real Madrid ace Jude Bellingham and teammate Aurelien Tchouameni, seemingly arguing about who the better player is between Erling Haaland and Kylian Mbappe, has gone viral on social media. The 15-second video in question was shared on X, formerly known as Twitter, by a Bellingham fan account. It shows the Englishman sat across from Tchouameni and telling the Frenchman that a player, whose name is bleeped out but believed to be Haaland, is a “great guy, bro”. “He’s a great guy?” asks Tchouameni, seemingly uninterested and playing on his phone. “He’s an unbelievable…

Key News Asian equities were higher overnight as Japan outperformed on salary increases and may rescind its negative interest rate policy next week. Growth stocks and sectors outperformed in both Mainland China and Hong Kong as Nvidia’s GTC conference received significant attention in China. New policies to support technological self-sufficiency, announced during the “Two Sessions” important policy meetings, which concluded last week, might have been a factor. Following weak credit data last week, at 10 am, January and February data, which were combined due to the Chinese New Year holiday, were released, leaving something for bulls and bears. The decline…