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While many strategists have been lowering their S&P 500 year-end targets, they don't think a sell-off in large-cap tech stocks is likely to continue.

Serbian oil company NIS, majority-owned by Russia's Gazprom Neft and Gazprom, is likely to get a last-minute, 30-day extension to its waiver from U.S. sanctions, the CEO of state gas company Srbijagas said on Thursday. The previous waiver is due to expire at midnight, and if it is not extended NIS could face crude supply cuts. NIS operates the only oil refinery in Serbia, which has annual capacity of 4.8 million tons and covers most of the Balkan country's needs.

U.S. President Donald Trump's administration has asked oil and biofuels producers to hash out a deal on the next phase of the nation's biofuels policy to avoid the kind of political clashes that marked his first term, according to four people familiar with the matter. Big Oil and the Farm Belt's biofuels makers are traditional competitors for share in the multibillion-dollar U.S. gasoline market. The White House directive has already yielded at least two bilateral meetings, including one hosted last week by the American Petroleum Institute, said the sources, who include Will Hupman, API's vice president of downstream policy, and three others who asked not to be named.

(Reuters) -Paul Atkins, a former Wall Street regulator whom President Donald Trump has tapped to run the U.S. Securities and Exchange Commission, is set to testify at a Senate confirmation hearing on Thursday at a time of major change at the agency and across the federal workforce. Jonathan Gould, Trump's nominee to supervise the largest U.S. banks as comptroller of the currency, is also set to appear, along with Luke Pettit and Marcus Molinaro, Trump's picks for senior roles at the Treasury and Transportation departments, respectively. In prepared remarks released Wednesday, Atkins avoided addressing White House efforts to slash the SEC's workforce as part of broader government cuts, instead pledging to deliver regulation that would benefit the crypto industry and prevent "overly politicized" regulations from stifling free enterprise.

U.S. airlines were flying high less than two months ago on talk of a new golden age, as strong travel demand and tight industry-wide capacity raised the prospect of a multi-year profit boom. But President Donald Trump's broad tariffs and a crackdown on government spending have upended that optimism. Tourists and companies have reduced spending amid rising economic uncertainty, forcing carriers to cut their first-quarter profit forecasts.

U.S. oil producers are grappling with geological limits to production growth as the country's top oilfield ages and produces more water and gas and less oil - and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become the world's top oil producer, stealing market share from the Organization of the Petroleum Exporting Countries (OPEC) and other top producers. Slowing output growth and rising costs would make it difficult for oil producers to pump more and bring down oil prices to consumers, as envisioned by U.S. President Donald Trump in his "drill, baby, drill" mantra.

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