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STOCK MARKET NEWS: Dow jumps on retail sales rise, Pinterest pops, Citi, Wells report

Traders take in bank earnings and the latest retail sales numbers. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.

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Biden making Saudi trip because of oil crisis: Fmr. Saudi Arabia ambassador

Jim Smith reacts to the president's about-face on the world stage after he vowed to make the Saudi's a 'pariah' on 'The Claman Countdown.'

Posted by FOX Business Team

Posted by FOX Business Team
Breaking News

Dow jumps 658 points, S&P, Nasdaq rally nearly 2% but end week lower

A better-than-expected retail sales report helped power stocks to gains on Friday with the Dow Jones Industrial Average rising 2.1%, while the S&P added 1.9% and Nasdaq Composite 1.8%. Despite the rally, all three of the benchmarks fell for the week after consumer and producer prices climbed to fresh highs. In commodities, oil fell nearly 7% for the week to $97.59 per barrel.  

S P 500.
$
3863.16

All 11 of the S&P's major sectors rose led by financials and healthcare, while utilities rose the least.

SymbolPriceChange%Change
XLF$30.74-0.60-1.91%
XLV$130.18+3.03+2.38%
XLU$69.630.000.00%

Posted by FOX Business Team

Texas oil producers have a message for President Biden: Save time, tax payer dollars and talk to us

Latshaw Drilling President Trent Latshaw and Tall City Exploration President and CEO Mike Oestmann criticize President Biden for looking to foreign oil instead of American producers to address the economic and energy crisis.

Posted by FOX Business Team

Fed will cherry-pick data to justify aggressive rate hikes: Expert

NorthmanTrader founder Sven Henrich provides insight on the Federal Reserve's moves to combat recession and inflation on 'Making Money.'

Posted by FOX Business Team

Alaska gov. on federal drilling: All we're asking for is the go-ahead

Alaska gov. Mike Dunleavy discusses Biden's trip to Saudi Arabia and the impact of the administration's policies on drilling projects.

Posted by FOX Business Team

President Biden meets with Saudia Arabia's Prince Mohammed bin Salman

Posted by FOX Business Team

Dow leaders

Dow Jones Averages.
$
31229.17

The Dow Jones Industrial Average registered a nice triple point rally midday led by UnitedHealth, American Express and Goldman Sachs.

SymbolPriceChange%Change
UNH$502.43+1.19+0.24%
GS$281.59-8.56 -2.95%
AXP$136.48-2.92-2.09%

Posted by FOX Business Team
Breaking News

Retail sales strength boosts stocks

SymbolPriceChange%Change
I:DJI$31,061.23+431.06+1.41%
I:COMP$11,408.56 +157.37+1.40%
SP500$3,840.66+50.28+1.33%
C$44.14-1.36-2.99%
WFC$38.74-0.33-0.84%

All three of the major U.S. stock averages rose 1% after retail sales jumped 1% in June beating expectations. Investors are also taking in bank earnings from Wells Fargo and Citibank, both shares gained post results. In commodities, oil rose to the $88 per barrel level. 

Posted by FOX Business Team

Stock futures gain ahead of bank earnings, retail sales

U.S. equity futures were trading higher ahead of the release of more earnings from financial companies. Earnings reports are expected from Citigroup, Wells Fargo as well as other financial names.

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Posted by Ken Martin

Oil rises back above $95 a barrel

Oil prices traded higher on Friday ahead of President Biden's trip to Saudi Arabia. Biden will attend a summit of Gulf allies and call for them to pump more oil.

WTI crude traded around $96 a barrel. Brent crude futures were at $99 a barrel. Oil gained amid prospects of a less aggressive U.S. rate hike.

Posted by Ken Martin

Gasoline slide continues

The average price of a gallon of regular gasoline slipped on Friday morning to $4.577, according to AAA. The price on Thursday was at $4.605. Gas has declined for 28 straight days. Diesel slipped as well to $5.572 down from $5.592

Posted by Ken Martin

Bitcoin trading above $20,000

Bitcoin is trading above $20,000 after two consecutive days of gains heading into Friday. The cryptocurrency has gained more than 6% during that time.

Bitcoin is up more than 10% in July, but down more than 55% year-to-date. Ether is trading around $1,200. Dogecoin is at 6 cents.

Posted by Ken Martin

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