Almost no matter the metric, the U.S. oil and gas industry has flourished under President Joe Biden, even though his administration has pushed hard to transition the U.S. economy toward a carbon-free future to fight climate change. The counter-intuitive fossil fuel boom under Biden reflects an awkward truth for his supporters and detractors alike ahead of the November elections, proving that what happens in globally interconnected markets like oil and gas is often well outside the immediate control of the person in the White House. In Biden's case, Russia's invasion of Ukraine pushed oil and gas prices so high that many producers worldwide made record profits, not just those in the United States.
Home Depot will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion. It is Home Depot's largest acquisition in its history and with it, it steps more aggressively into the fast growing professional builder and contactor business. SRS provides materials for those including professional roofers, landscapers and pool contractors. Home Depot said that when taking the deal into account, it now believes its total addressable market is approxim
The U.S. stock market is off to a soaring start in 2024, as optimism over the economy and interest rate cuts has combined with exuberance about the business opportunity in artificial intelligence to stir up a potent cocktail for equities. The S&P 500 in late January hit its first record high in two years and hasn't looked back, setting more than a dozen highs without a significant pullback so far this year, on pace for its biggest first-quarter gain since 2019.
Inflows into the nine recently launched exchange-traded funds (ETFs) tied to bitcoin have resumed their upward trajectory this week after the cryptocurrency's price bounced back from its dip last week. "The resumption in bitcoin's strong performance is sparking renewed interest in the ETFs," said Todd Rosenbluth, head of research at VettaFi, an analysis firm. The nine funds that made their debut in January pulled in nearly $1 billion in assets in the first two days of this week, according to data from BitMEX Research.
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