Stocks were narrowly mixed ahead of the close, but still remained within a narrow trading range, as investors focused on unrest in Egypt and took a breather after the market posted new multi-year highs on Tuesday. Disney rose, while Home Depot fell.
Plus, cloud stocks are making a comeback and why investors shouldn’t be concerned about Europe.
The exchange-traded fund that aims to track the Egyptian stock market is on fire again today.
In retrospect, Tuesday’s big rally in the stock market wasn’t hard to figure out. The market did what it almost always does the first day of the month.
Stocks struggled for direction on Wednesday as clashes between government supporters and protesters in Egypt weighed on the market amid news of a better-than-expected gain in private-sector hiring last month. Merck and BofA fell, while Disney rose.
As the situation on the ground in Egypt continues to destabilize—with riots breaking out in Tahrir Square earlier this afternoon Cairo time—there is much discussion of the critical role the military will play in Egypt in the days and weeks to come. Among policy analysts who seem to agree on little else, there appears to be a consensus on this: The military will play a key role in determining the future of the Egyptian nation.
A little over nine years ago, one of the biggest stories in international affairs was Thomas E. Ricks’ Page One story in the Washington Post a briefing given to a Pentagon advisory group that characterized the Saudi ruling family as enemies of the United States.
Steve Sailer points out why our aid to Egypt doesn’t seem to buy us as much loyalty as it once might have.
Some pensioners are able to withdraw money from ATMs in Egypt, but the stock exchange will remain closed until "calm is restored to the street," newly-appointed Egypt Finance Minister Samir Radwan told CNBC Wednesday.
With the Middle East in the background, financial markets are turning their attention to Friday's jobs report and other U.S. economic data slated for this week.
President Barack Obama told Hosni Mubarak on Tuesday an orderly transition of power in Egypt "must begin now" in remarks critical of the Egyptian leader's plan to stay in office six more months.
"What happens is the market moves on, and it has in every event," one pro says. "Unless there is a growing concern of contagion that affects the oil markets, the market will go on now."
Decades of autocratic government and a lack of free elections are, of course, the main drivers of the political upheaval in Egypt. But did the sinking dollar and skyrocketing food prices trigger the massive unrest now occurring in Egypt — or the greater Arab world for that matter?
Plus, get calls Cramer’s favorite bank stock, the aerospace and truck bull markets and more.
Blackrock sent out a short memo yesterday on the ongoing situation in Egypt.
If President Hosni Mubarak says in a speech tonight that he will step down at the next election, as Al Arabiya TV is reporting, I doubt it will do much to satisfy the protesters. If anything, it will likely embolden them.
In his new book, "THE NEXT DECADE: Where We’ve Been and Where We’re Going," Friedman predicts that, above all, America's power will be tested, and while the author says it will endure, it will require what he calls, "extraordinary skill of the decade’s Presidents to navigate turbulent waters and balance relationships."
Nineteen private jets carrying Egyptian businessmen and their families departed from Cairo yesterday, according to news reports .
The U.S. market is our favorite market to watch in 2011, said Kevin Gardiner, head of investment strategy at Barclays Capital.
Investors panicking the Egyptian chaos could paralyze the Suez Canal sent oil to 2008 highs Monday. Right now the canal remains open but for how long? Worries over the security of the canal are mounting as the unrest continues.