TRIPOLI, April 24- A rebel group in eastern Libya that controls several oil ports said on Thursday it would not reopen the key Ras Lanuf and Es Sider terminals unless the government implemented its part of a recent deal to end the oil blockade.» Read More
Before the recent downturn in the U.S. stock market, portfolio strategists and market prognosticators said the resiliency of the markets was a key sign of positive times ahead.
Stocks rallied Friday as investors were encouraged by a cut in discount rates by the Fed. "As long as we can stay out of the woods with further credit problems, we can build from this base and go forward steadily," said James Maguire, Sr., managing director at LaBranche. "I think we've hit the bottom. We might fish around here for a bit, but I'm very confident."
Energy companies in the Gulf of Mexico stepped up evacuations of workers Friday ahead of the first Atlantic hurricane of 2007, even as most revised forecasts showed the storm missing oil and gas installations.
Oil prices jumped Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
Now that Wall Street knows the world isn't going to end, traders can go back to looking for cheap stocks. Plus, Cramer's tech picks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
A few days ago I blogged about the state of Chrysler and posed a simple question: What do you want to see from Chrysler for you to consider buying a car or truck from the American automaker?
A strong rally during the final half-hour of trading erased much of Wall Street's losses in another volatile trading session. The rebound was led by recently battered financial shares on optimism regulators may let Fannie Mae and Freddie Mac, the two biggest U.S. mortgage funding companies, play a bigger role in steadying the ailing industry.
A fire broke out Thursday at Chevron's largest U.S. refinery in Pascagoula, Miss., but authorities said there were no immediate reports of injuries.
Oil dropped as much as $3 Thursday, as credit and economic fears pounded global financial markets and spurred investor selling.
If you thought the move toward hybrids and fuel-efficient sub-compacts was a trend that had perhaps slowed down, think again. This week J.D. Power and Associates released its list of the fastest selling cars and trucks in July and the hottest rides are gas sippers.
U.S. stocks closed near the lows of the session as a return of credit market concerns sparked declines. "I think the market is trying to find a bottom, but the psychology is brittle," said Alec Young, equity market strategist at S&P. "There are concerns with the liquidity problems right now, with credit spreads widening out and where is the next shoe to drop."
Investors fled to the safety of Treasury debt Wednesday but shied away from other government paper, such as those issued by Ginnie Mae and Fannie Mae.
Stocks closed sharply lower, with the Dow dropping more than 200 points, amid continuing anxiety about the credit markets and a weak earnings outlook from Wal-Mart. "I still feel the market is headed for a lower low," said Byron Wien, chief market strategist at Pequot Capital Management.
Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
U.S. stocks closed little-changed amid investor concerns that more credit troubles may be down the road. "I think there's still a lot of convincing to do to investors that things are going to work out fairly well," said Sam Stovall, chief investment strategist at Standard & Poor's.
Energy futures edged higher Monday as economic concerns eased and reports of scattered refinery outages surfaced over the weekend.
The price of gasoline dropped about 17 cents over the last two weeks, according to a national survey released Sunday.
Stocks closed mixed but recovered the bulk of the day's losses in the final half-hour of trading amid continued market volatility. "The fundamentals have gone out the window for awhile, and in some cases it means that better value has been created," Abby Joseph Cohen, chief U.S. portfolio strategist at Goldman Sachs, said on CNBC.
Oil edged lower on Friday as the crisis in world credit markets weighed on investor sentiment, but a late rally after central banks plowed more cash into the financial system erased most of the day's losses.
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