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By Sheila Dang HOUSTON, May 1 (Reuters) – Exxon Mobil beat estimates for first-quarter adjusted earnings on Friday, though unadjusted profit dropped to its lowest level in five years due to disrupted shipments from the U.S.-Israeli war on Iran and a large negative impact from timing effects related to financial derivatives. Adjusted earnings for the first three months of the year were $1.16 per share, above the consensus estimate of […]

May 1 (Reuters) – HF Sinclair posted a surprise first-quarter adjusted profit on Friday, helped by higher refining margins and increased refined product sales volumes. Refiners in the U.S. are reaping their strongest margins in years, as disruptions to Middle Eastern oil flows due to the Iran war have driven up demand for U.S. fuel exports. Tehran’s effective closure of the Strait of Hormuz — a critical chokepoint through which […]

SAO PAULO, May 1 (Reuters) – Brazil’s former president, Jair Bolsonaro, left his home in Brasília early Friday heading for hospital, where he is expected to undergo shoulder surgery, his wife Michelle Bolsonaro said in a social media post. The procedure aims to address a chronic problem in his right shoulder that has caused persistent pain and limited his mobility. Bolsonaro has been under humanitarian house arrest, under an initial […]

By Saqib Iqbal Ahmed NEW YORK, May 1 (Reuters) – Blindly following the old Wall Street adage “sell in May and go away” may prove costly, as investors weigh whether to call time on a powerful market recovery heading into a historically turbulent stretch of the year. The S&P 500 has already staged a dramatic comeback, recovering a near-10% decline in just 11 trading sessions after a selloff triggered by […]

By Saqib Iqbal Ahmed NEW YORK, May 1 (Reuters) – Blindly following the old Wall Street adage “sell in May and go away” may prove costly, as investors weigh whether to call time on a powerful market recovery heading into a historically turbulent stretch of the year. The S&P 500 has already staged a dramatic comeback, recovering a near-10% decline in just 11 trading sessions after a selloff triggered by […]

May 1 (Reuters) – Elon Musk testified for more than seven hours over three days this week at a trial in Oakland, California, over the future of OpenAI, casting his lawsuit against the owner of ChatGPT as a defense of the institution of charitable giving. Musk, the CEO of Tesla and SpaceX as well as the world’s richest person, is also suing OpenAI’s Chief Executive Sam Altman and its President […]

May 1 (Reuters) – Elon Musk testified for more than seven hours over three days this week at a trial in Oakland, California, over the future of OpenAI, casting his lawsuit against the owner of ChatGPT as a defense of the institution of charitable giving. Musk, the CEO of Tesla and SpaceX as well as the world’s richest person, is also suing OpenAI’s Chief Executive Sam Altman and its President […]

By Lewis Krauskopf NEW YORK, May 1 (Reuters) – Investors will look for another batch of earnings reports and fresh employment data to drive a resilient U.S. stocks rally higher next week, in the face of spiking oil prices and a more hawkish Federal Reserve. Major U.S. stock indexes were at record-high levels on Thursday, following a sharp month-long rebound from concerns about economic fallout from the Middle East war. A […]

By Lewis Krauskopf NEW YORK, May 1 (Reuters) – Investors will look for another batch of earnings reports and fresh employment data to drive a resilient U.S. stocks rally higher next week, in the face of spiking oil prices and a more hawkish Federal Reserve. Major U.S. stock indexes were at record-high levels on Thursday, following a sharp month-long rebound from concerns about economic fallout from the Middle East war. A […]