Intel will break ground today for its new computer chip facility in suburban Columbus, Ohio.
President Biden will be there for the event. In his State of the Union address last March, Biden envisioned the Intel plant as a model for a U.S. economy that revolves around technology, factories and the middle class. Intel had delayed groundbreaking on the $20 billion plant until Congress passed the bipartisan CHIPS and Science Act.Oil prices headed for a second straight losing week. Both benchmarks were down about 4% for the week.U.S. West Texas Intermediate crude futures traded around $83.00 a barrel, after climbing 2% in the previous session.The concern remains central banks' aggressive rate hikes and China's COVID-19 curbing demand.
The U.S. Energy Information Administration on Thursday said it expected U.S. crude output to rise by 540,000 barrels per day to 11.79 million bpd in 2022, down from an earlier forecast for a 610,000 bpd increase.The average price of a gallon of gasoline slipped on Friday to $3.738, according to AAA. Thursday's price was $3.751. Analysts and traders say wholesale gasoline prices are expected to keep falling in coming months as U.S.
Bitcoin was jumping by 7% around $20,000, in a rebound after trading lower in three of the last four days.The cryptocurrency is down more than 58% year-to-date.Dogecoin was trading around 6 cents, after losing 2% in the past week.
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