SINGAPORE, Dec 12- Brent futures held steady above $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices, keeping investors at bay.» Read More
As expected, April auto sales left a lot to be desired. Overall, they were lackluster. But if you look within the numbers, one thing is clear: CUV (crossover utility vehicle) sales continue to grow -- not surprising when you consider that buyers still want the versatility to haul people and stuff. The CUVs hitting the market allow us to do that, while getting slightly better gas mileage and giving a better ride than we get with traditional SUVs.
The Save Darfur Coalition has turned its attention to Berkshire Hathaway and Fidelity Investments in the struggle to end the strife in Sudan -- whose government was accused of committing genocide by the Bush Adminstration and the European Parliament. The coalition's executive director, David Rubenstein, joined "Power Lunch" to tell why investment companies may accomplish more than politicians in the pursuit of justice.
Barry Sternlicht, chairman and CEO of Starwood Capital, told CNBC’s “Morning Call” that high construction costs may limit the number of new hotels built in the immediate future. “It’s very expensive to build right now,” Sternlicht said. “Steel prices, all commodity prices, copper – even asphalt because of its oil component – (are high) and that means there’s not a lot of new construction in most markets. Some markets, like the hotel market, there are record numbers of new hotels in the pipeline. But it remains to be seen if these hotels will be built because when you put pencil to paper and see how much they cost, a lot of them don’t make economic sense.”
Wow--actor Ernie Hudson pulled out all the stops (thus his picture gets listed) and jumped from 4th into 2nd place in Trading With The Stars. This continues his momentous climb as he had previously moved from 8th to 4th. So Ernie is definitely on a roll or donut -or just plain getting some great advice. Ernie knocks fellow actor Stephen Collins into 4th place behind James Cromwell, while Jonathan Tucker keeps a hold on 1st place. And Johnny Bench might take a few lessons from Ernie. The Hall of Fame catcher keeps 10th place very warm!
CNBC’s Trish Regan reports that major oil companies have transferred operational control of one of the world’s richest oil fields to Venezuelan President Hugo Chavez.
Stocks ended at session lows on Monday following a late flurry of selling due to weakness in tech stocks, but the Dow ended the month with the biggest gains since December 2003. "We've been making money in the last six weeks, so I do think we need a timeout," said Al Goldman, chief market strategist at A.G. Edwards.
Crude oil futures ended lower, sliding late in a choppy session that saw May RBOB gasoline futures up sharply ahead of its contract expiration, reaching an 11-month high at one point, amid refinery snags and supply concerns.
Here's our re-cap for today. We have the leaderboard, most active and widely held stocks, week 8 winner and trivia questions. Here they are. The video question is worth $2,000 Bonus Bucks: As part of Delta's reorganization plan to emerge from bankruptcy, how many different types of planes will they fly? Your selection of answers is: 9 or 3 or 12 or 5.
CNBC-TV had it's five for five segment today--that's where they look at five stocks making news this week. It's pretty much based on earnings. Jon Hilsenrath, editor at the WSJ was the guest to talk about the stocks. Again, these are not recommendations for the contest (or your personal portfolio) but more along the lines of what stocks could have a jump up or down.
Loewssaid first-quarter profit rose 42%, topping Wall Street forecasts, helped by better-than-expected results from its insurance, tobacco and oil drilling units.
Jonathan Tucker and Stephen Collins continue to hold the top 2 spots. Stephen added another $22K on big gains with Varian Semi Eqmt Assoc. which was up 22.79%. Neither made any transactions Friday besides adding $3,000 in bonus bucks each. Ernie Hudson jumped from #8 to #4 gaining $68,399.39 over Thursday's total mostly on the sale of Biadu.com Inc. which added $56,240.00. Meanwhile, Johnny Bench dropped from #7 back to the basement. Both of his holdings were down Friday for a loss of $32,242.72 or -3.08% on the day.
It's the third year of President Bush's second term, and the markets are booming. Is there a connection? Not when you look at the numbers. According to data provided in part by Strategas Research Partners, the markets tend to post strong gains during the third year of any president's term, and it's not because of anything the president himself is doing.
The Wall Street rally that pushed the Dow Jones industrials to 13,000 has been a boon for investors, but not the nation's online brokerages, and that could force another round of industry consolidation.
Stocks posted their fourth straight week of gains, pushing the Dow Jones Industrial Average to its third record close in row. The markets were boosted by better-than-expected corporate earnings, which managed to outweigh a weaker-than-expected estimate of first-quarter economic growth.
After the Dow's 13,000-level milestone, analysts expect a new record for the S&P 500 in the coming weeks.
U.S. crude oil futures ended more than $1 higher on Friday, backed by another surge to neweight-month highs by gasoline futures.
It's the "usual suspects" holding down the top three spots on Trading With The Stars. Jonathan Tucker and a very active Stephen Collins maintain a status quo by holding the first two positions. Jonathan has not made any transactions except for bonus bucks since 4/23, and Stephen had been active buying and selling and getting big gains on Advanced Energy--balanced by losses in C-Cor. James Cromwell continues to hold 3rd place.
Phil Flynn, a member of Alaron Trading, told CNBC’s “Squawk Box” that the U.S. may face tight gasoline supplies this summer.“(Production numbers) better change soon,” Flynn said Friday. “Otherwise, we’re going to have big problems in this country. I don’t know how we’re going to get gasoline supplies where they need to be by Memorial Day. We need to be at 210 million barrels in just a few weeks. We’re at 194 million.”
Saudi Arabia said it foiled an al Qaeda-linked plot to attack oil facilities and military bases, arresting more than 170 suspects, including some trainee pilots preparing for suicide operations.
Chevron's first-quarter earnings rose on a one-time gain from the sale of a refinery, the No. 2 U.S. oil company said.