Oil prices fell on Tuesday as U.S. lawmakers prepared to wrangle over an economic stimulus package and investors worried about a rise in coronavirus cases worldwide.
An impasse in U.S. economic stimulus negotiations and mixed corporate earnings reports in Europe left global equities treading water and sent investors into safe-haven assets like government bonds and gold, which hovered near record highs.
The Dow and Nasdaq were in decline on Tuesday while the S&P eked out a small gain as investors eyed weakening consumer confidence and disappointing business updates as well as a smaller than hoped for coronavirus aid plan from U.S. Senate Republicans.
U.S. consumer confidence fell more than expected in July amid a flare-up in COVID-19 infections across the country, which is threatening the economy's recovery from an unprecedented recession caused by the pandemic.
Pfizer Inc on Tuesday said other developed countries would not get a lower price for its coronavirus vaccine than what it will charge the United States under a contract announced last week.
On Wednesday, Apple Inc Chief Executive Tim Cook will face questions from U.S. lawmakers about whether the iPhone maker's App Store practices give it unfair power over independent software developers.
JPMorgan's 's development finance institution has structured its first deal, a $250 million five-year green bond for a power firm in Georgia, as it targets $100 billion for development projects annually, executives say.
The U.S. Federal Reserve said on Tuesday it will extend several of its lending facilities through the year-end as the central bank continues to dial back expectations on how quickly the U.S. economy will recover from the novel coronavirus pandemic.
Drugmaker Pfizer Inc is in concurrent talks with the European Union as well as several of its member states to sell them the COVID-19 vaccine candidate it is developing, Chief Executive Albert Bourla said in an interview on Tuesday.
After moving record-large Canadian oil volumes by rail just five months ago, shippers have hit the brakes, idling thousands of cars and tens of millions of dollars' worth of infrastructure.
