The US-UK spat over BP is a serious topic of discussion among traders. They are worried that this could get out of hand. They are worried that the meeting between the president and BP officials scheduled for next week will turn into another public humiliation of BP.
Retail sales disappoint, but some bright spots. May retail sales reports, down 1.2 percent versus consensus of 0.2 percent, were clearly a disappointment. Here's the breakdown.
S&P futures dropped 6 points on the disappointing U.S. May retail sales. But it was noted that building material sales were notably weak, down 9.3 percent, which may be due to the expiration of the homebuyer tax credit. Still, motor vehicle parts were down 1.7 percent, clothing sales were also down 1.3 percent. Sales up at restaurants, sporting goods, furniture. Elsewhere this week the news has been more positive...
According to the NYSE, the single-stock circuit breaker rollout will be completed by Wednesday. At that time, the new circuit breaker rules will have been applied to each of the 404 NYSE-listed S&P 500 stocks.
What's up with Goldman Sachs? Just another indication of headline risk. Why was GS the ONLY major financial stock down today, down 3 percent to a 52-week low?
In the absence of congressional action on climate change, the Senate is heading toward a much-watched vote on whether the Obama administration should be allowed to go ahead with regulations curtailing greenhouse gas emissions from power plants and other major polluters.
America must ramp up its investment in energy research and science, Xerox Chairman and CEO Ursula Burns told CNBC Thursday, her comments coming on the heels of a new plan for energy innovation released this morning by a group of the country’s top business leaders.
It is the season for economic forecasts, and I have been polled by several published surveys. Here is my response.
It's time for President Obama to skip the tough talk and take decisive action to clean up the BP oil spill in the Gulf of Mexico, says CNBC's Dennis Kneale.
Individual stock circuit breakers coming tomorrow (Friday). Sources tell me the SEC will announce they have approved the circuit breakers that have been circulating for approval, and will begin a partial rollout tomorrow.
The financial markets hate uncertainty and the 'Mother of All Uncertainties' is looming in December, when Congress is supposed to decide what will happen to the Bush tax cuts, which are set to expire at midnight on Dec. 31.
The funny business of high school graduation. Thursday night I head to one. I will sit in a football stadium for two hours, which will only seem like three. I promise not to fall asleep, and, if I do, I promise not to do it on camera. Especially if Barack Obama shows up.
The trade deficit, along with the credit and housing bubbles, were the principal causes of the Great Recession. Now, a rising trade deficit and continued weakness among regional banks, still burdened by bad loans, threatens to stifle the emerging recovery and keep unemployment near 10 percent through 2011.
BP drops midday to a nearly 14-year low. BP shares went from $34 to $31.50 in about an hour midday. What happened? You have senators walking around talking about suing BP for everything, including lost jobs; you have worries that the dividend will be wiped out; and you have whispers on trading desks that it is increasingly likely that BP, or its U.S. subsidiary...may file for bankruptcy.
Standard and Poor's is rebalancing Citigroup at the close today to account for additional shares the government sold to the public.
The oil industry’s foremost authority on reservoir management and upstream technology called the BP oil spill a Black Swan event that, however catastrophic, has the potential to improve drilling practices in particular and the industry in general.
One of the political mysteries of the last year is why the White House and Congress have not been even more aggressive about trying to put people back to work. The NYT explains.
Global markets are up on: 1) a leaked report that Chinese exports grew 50 percent in May from a year earlier, vs. the 32 percent gain expected; and 2) a successful 3 and 10 year bond auction in Portugal. In China, the Shanghai Index was up 2.8 percent on the strong export numbers. Also: the "Pain Trade."
At a moment when many economists warn that the American economic recovery is likely to be imperiled by prolonged high unemployment and slow growth, President Obama is discovering that the tools available to him last year — a big economic stimulus and action by the Federal Reserve — are both now politically untenable. The NYT looks at the consequences.
The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com.