• The high-flying energy sector is suffering one of its worst streak of losses in 40 years as oil prices pull back

    6 days ago - By Business Insider

    The EU is planning a complete ban on Russian oil imports. iznashih/Getty Images
    The S&P 500 Energy Sector has hit one of its worst run of losses in more than 40 years, Bespoke Investment Group said Thursday.
    The sector's 10-trading-day decline of 23.7% is the third worst in four decades.
    Energy stocks have been hurt by a drop in oil prices but remain the only sector with gains this year on the S&P 500.
    The S&P 500 Energy Sector is the only sector on the broad-market index sporting gains so far in 2022, but a slide in oil prices has pulled the group into one of its worst rough patches in...
    Read more ...

     

  • Lumber prices fall as mortgage rates hit fresh 13-year high to edge closer to 6%

    7 days ago - By Business Insider

    Hill Street Studios/Getty Images
    Lumber prices fell Thursday, marking the first decline in more than a week, as mortgage rates rose to the highest since November 2008.
    Prices dipped 2.3% to $598.50 per thousand board feet, after rallying for six consecutive sessions to edge back above $600.
    Freddie Mac said that 30-year fixed-rate mortgages rose to 5.81% from 5.78% in the prior week.
    Lumber prices fell Thursday, marking the first decline in more than a week, as mortgage rates rose to the highest level since November 2008. Prices ticked down 2.3% to $598.50 per thousand board feet, after...
    Read more ...