Stocks Are Grinding Lower and Gapping Higher Under Trump

The market moves triggered by President Donald Trump’s foreign policy pronouncements are helping to shake up a long-established pattern in equities. Traders are used to stock markets grinding higher during bull-runs, which are typically interspersed with sharp gaps...

Reliance Caps Fuel Sales to $11 a Visit as Shortages Deepen

Reliance Industries Ltd. has capped fuel purchases across its retail outlets — limiting customers to about $11 worth of gasoline or diesel — as the Middle East crisis continues to choke off supplies despite a tentative ceasefire. The country’s largest private-sector...

US Consumer Spending Barely Rose, Inflation Lingered Pre-War

US consumer spending barely rose in February against a backdrop of persistent inflation that’s set to accelerate due to the Iran war. Inflation-adjusted consumer spending increased 0.1% after stagnating in January, continuing an extended period of lackluster demand, a...

Chevron Says Iran War Reduced Production, Impacted Earnings

Chevron Corp. said its production fell as much as 6% in the first quarter due in part to the Iran war, echoing a similar disclosure from arch rival Exxon Mobil Corp. earlier this week. Chevron’s production was between 3.8 million and 3.9 million net oil-equivalent...

Private Credit Exodus Turns Moody’s BDC Outlook to Negative

A swelling wave of redemptions has driven Moody’s Ratings to revise its outlook for private credit investment vehicles to negative, after holding the line at stable for over two years. The ongoing exodus from nontraded vehicles, which make up 60% of the sector’s...