Economic activity in the New Orleans area expanded modestly between January and mid-February, as some employers added to headcounts and wage pressure remained muted. That’s according to the latest regional reading from the Federal Reserve, which said retailers reported continued strong demand in home furnishings and recreational products. Auto sales increased, exceeding expectations. Tourism saw an uptick in activity as domestic travel rebounded slightly.
Exxon Mobil says the time has come to capture carbon emissions into a real business, as it faces pressure from activists to become a greener company. That represents an about-face for the Texas oil giant, which for years has held a pessimistic view of investing heavily to commercialize carbon-capture projects, saying they made little economic sense without massive government incentives. At its annual analysts day yesterday, Exxon touted the recent creation of a new business unit to commercialize the technology.
Futures are a little changed after stocks closed broadly lower yesterday. The Dow Industrials fell 121, the Nasdaq tumbled 361 and the S&P 500 lost 50.
