All facets of the oil and gas industry have suffered declines amid the COVID-19 pandemic unseen in previous downturns.
But Shannon Slocum, senior vice president of global business development and marketing and member of the executive committee at Halliburton, believes the lessons learned in previous downturns, specifically the 2015-2016 downturn, have helped companies weather the storm.
“After the second quarter, we believe the rig count is stabilizing and we’re optimistic and believe we’re seeing the beginnings of a recovery,” he said during the Texas Independent Producers and Royalty Owners Association’s 2020 Summer Conference, held virtually last week.
“Nothing dramatic, but a positive start,” he said. “Our industry is not out of the woods yet – far from it. In fact, the energy sector accounts for only 2.63 percent of the Standard & Poor’s 1500, an all-time low. Something needs to change before capital comes back into our space.”
NASA’s Moon to Mars Economic Impact Study Shows Significant Benefit for Virginia
HAMPTON, Va., Sept. 28, 2020
HAMPTON, Va., Sept. 28, 2020 /PRNewswire/ — NASA recently released an assessment of the economic impacts of NASA and the Moon to Mars (M2M) program for the nation as a whole, and each of the fifty states. The study shows Virginia is one of the most impacted states. NASA’s Langley Research Center in Hampton, Virginia, directly contributes to this impact through jobs and partnerships with Virginia industry.
NASA’s overall economic benefit for Virginia is $5.5 billion, with nearly $300 million coming directly from the M2M program. This includes more than 27,000 jobs total and 1221 jobs related to M2M. Nationwide, NASA is responsible for 312,623 jobs and $64.3 billion added to the national economy.
NASA’s Artemis program will return humans to the Moon
(Reuters) – Wall Street rallied in a rocky session on Thursday as beaten-down technology shares gained favor after data showing a surge in the sale of new homes revived faith in the economic recovery even as U.S. jobless claims rose unexpectedly.
Stocks also reacted positively to news of efforts to enact further stimulus in Washington, helping lift the S&P to a session high, although the index then turned negative before retracing some gains.
Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Nvidia Corp NVDA.O and Facebook Inc .FB.O, stocks that have outperformed at a time of increased economic uncertainty, all rose.
The wild session indicated caution was in store, said Dennis Dick, a trader at Bright Trading LLC, who warned market sentiment that drove momentum has sharply changed.
“Fear of missing out has turned into to fear of losing actual money,” Dick said. “This is a shakeout of all
* Weekly jobless claims unexpectedly rise to 870,000
* U.S. new-home sales vault to near 14-year high
* Nikola slides after Wedbush downgrade
* Accenture drops, BlackBerry rises on quarterly earnings (Updates to close of U.S. market)
Sept 24 (Reuters) – Wall Street rallied in a rocky session on Thursday as beaten-down technology shares gained favor after data showing a surge in the sale of new homes revived faith in the economic recovery even as U.S. jobless claims rose unexpectedly.
Apple Inc, Amazon.com Inc, Nvidia Corp and Facebook Inc, stocks that have outperformed at a time of increased economic uncertainty, all rose.
“Investors are going to be needing stocks that can weather a lower growth path because if we don’t get another round of fiscal stimulus, there’s not going to be a lot more we can do to continue boosting the economic recovery,” said Max Gokhman, capital markets strategist at
The MarketWatch News Department was not involved in the creation of this content.
Sep 22, 2020 (PRNews Times via COMTEX) — This outbreak of COVID-19 is expected to have a favorable impact on the global IoT in cloud platform market growth in 2020 and is expected to continue its trend in the coming years. During this pandemic period, there are strong signs that several technologies will witness an increased adopting rate in the recent months due to people converted digitally minded and they are adopting IoT technologies while work from home. Also, government bodies are using drone which are mounted with IoT cloud systems for public surveillance to monitor red zones and the wearing masks. Moreover, growing implementation of IoT systems in the healthcare sector to manage patient care including the remote monitoring of in-home patients who are self-quarantined and many other patients like chronic conditions and diabetes. These factors … Read More