03:41 PM EDT, 07/05/2024 (MT Newswires) -- The number of oil rigs in the US held steady at 479 for the week ended July 5, according to data compiled by energy services company Baker Hughes ( BKR ) . The tally for gas rose by four to 101, while miscellaneous rigs were unchanged at five. A year earlier, the US...

03:24 PM EDT, 07/05/2024 (MT Newswires) -- Oil prices declined in Friday afternoon trade but were on track to register fourth straight weekly gains. West Texas Intermediate crude oil was down 0.7% at $83.31 per barrel in Friday late-afternoon trade, while Brent fell 0.4% to $87.11. Both were still headed for fourth consecutive weekly increases, with WTI up more than...

June’s Bureau of Labor Statistics jobs report shows unemployment rising, signaling a continued slowing in the U.S. economy. University of Pennsylvania Wharton professor Jeremy Siegel reacted to the data, recommending the Federal Reserve to cut interest rates in response. What Happened: Siegel appeared on CNBC on Friday afternoon to discuss Friday’s “weak report.” “I think it’s really time for Fed...

The U.S. economy showcased robust job growth in June with 266,000 new jobs added, exceeding forecasts. Despite this positive indicator, the unemployment rate edged up slightly to 3.7%. Wage growth was relatively tame at 0.2% month-over-month and 4.3% year-over-year, suggesting a potential slowdown in the previously overheated job market. In contrast to the broader economic trends, the cannabis industry experienced a...