PRAGUE, March 8- Four central European countries have asked the U.S. Congress to make it easier for them to import natural gas from the United States and reduce their dependence on supplies from Russia, the Czech Foreign Ministry said on Saturday.» Read More
Airline stocks may be taking off -- despite such seeming drags as soaring fuel prices and bankruptcies. Andrew Wilkinson, senior market analyst at Interactive Brokers, told "Power Lunch" viewers why he sees a renaissance in passenger carrier shares.
Stocks ended a holiday-shortened session with modest gains following mixed economic data and crude oil prices that stretched above $71. "The two days before the July 4 holiday are usually good for the market," said Michael Sheldon, chief market strategist at Spencer Clarke. "There are some headwinds, but overall the atmosphere is generally positive for the second half."
Oil retreated on Tuesday after hitting a 10-month high the previous session, but analysts predicted increasing crude oil demand from U.S. refiners and technical factors would soon push prices higher.
ConocoPhillips expects its second-quarter production fell from-first quarter levels due to scheduled maintenance in the North Sea, exiting from operations in Dubai, asset sales and seasonality dips in Alaska, the third-largest oil and gas company said Tuesday.
Stocks closed higher on Monday and Wall Street kicked off the third quarter with triple-digit gains in the Dow as interest rates continued to slide. "It's largely in reaction to the yield on the 10-year coming back under 5%," said Dan McMahon, head of listed trading at CIBC World Markets. "It's a positive development for stocks."
Oil steadied near $71 a barrel on Monday, underpinned by falling gasoline inventories in the U.S. and expectations for a recovery in refinery use.
Dominion Resources said Monday it would sell its Mid-Continent natural gas assets to Linn Energy for $2.05 billion, part of its bid to focus more on its power business.
Russian president Vladimir Putin wants to redirect nuclear missiles toward western Europe, and that will affect investors in the domestic Russian market, according to one portfolio manager. "That's a sign of their [Russia's] inexperience and their poor handling of this public relations challenge, and it definitely does increase political risk," said John Connor, portfolio manager at Third Millennium Russia Fund. "The stock market has indicated that."
Kevin Divney, chief investment officer and portfolio manager for Putnam New Opportunities Fund, told CNBC’s “Squawk on the Street” that he believes there will be some second-quarter earnings surprises.
A decade on from Asia's financial crisis, the oil market has witnessed an unprecedented bull run. The surge in prices has seemed unsustainable with some commentators likening the jump to the dot com tech bubble. However, this particular bubble in the commodities market shows no signs of bursting as long as the twin powerhouses in the region -- China and India -- continue to grow.
Ten years removed from the Asian financial crisis of 1997 the countries which were most affected by the event have rebounded and then some, and market pros say the risk of similar events in the future have decreased now and emerging markets continue to look like a good long-term bet.
The stock market's recently moody and wild swings should give way to a less rambunctious holiday week where traders focus on upcoming earnings and economic fundamentals.
Stocks closed a wild trading session modestly lower, but the Dow still managed to end the quarter with a three-month gain of 8.5%. "It was a little all over the place today, but I was happy to see the rally at the end of the day," said Joe Ranieri, managing director of Nasdaq trading at Canaccord Adams.
Oil prices rose above $71 a barrel on Friday as investors focused on falling gasoline and crude stocks in key regions of the United States, the world's top consumer.
Crude oil futures enjoyed an extended rally after a government inventory report, released Wednesday, showed that U.S. petroleum product inventories dropped unexpectedly. The news, which helped push oil prices up around the $71-a-barrel mark, was surprising because it followed a step-up in refinery activity. With futures around a 10-month high, CNBC.com talked to John Kilduff, a senior vice president at Man Financial, about his views on the oil market. Here's what he had to say:
Stocks may open higher after early weakness on this final day of the second quarter. European markets are mostly lower, and Asia was mixed with Tokyo up 1%. The discovery of an explosive device in a car in London impacted market tone in Europe.
Stocks finished little-changed after a roller-coaster session as investors tried to figure out the Federal Reserve's latest statement on inflation and interest rates. "The Fed's been engaged in a real delicate balancing act," said Bruce Bittles, chief investment strategist at Robert W. Baird
Oil futures spiked above $70 a barrel on Thursday for the first time since Sept. 1 on a government report that showed gasoline inventories dropped unexpectedly as the summer driving season neared its peak.
Russia's gas monopoly Gazprom said on Thursday its profit doubled in 2006 to 636.461 billion roubles ($24.63 billion) in 2005, beating the average analysts' expectation of 591.4 billion roubles in Reuters poll.