*President Barack Obama's campaign for Congress to hold off on new sanctions over Iran's nuclear programme won a key endorsement on Thursday when the chairman of the U.S. Senate Banking Committee rejected tightening measures against Iran now.» Read More
Stocks closed solidly higher as investors took encouragement from more than $10 billion of announced acquisitions. "We think the one-day drop of a week or so ago was way overdone," Bob Turner, chief investment officer at Turner Investment Partners, told CNBC. "The trend that's been in place over the last several years of an upward bias to the market is still in place."
Oil futures swung through a wide range, under pressure ahead of the April contract's expiration on Tuesday.
Phil Dodge, energy analyst at the Stanford Group, told CNBC’s “Power Lunch” that rising oil prices are unlikely to trigger a global economic slowdown.
"As the investigation unfolded, we were absolutely terrified that such a culture could exist at BP," said U.S. Chemical Safety Board Chairman Carolyn Merritt.
Hercules Offshore said it has signed an agreement to buy oil and drilling services company Todco for $2.3 billion in cash and stock.
Merger madness is gripping Wall Street this morning and stocks, so far, are ready to sprint higher at the open. European markets are trading higher, and Asian stocks rose overnight, with a weaker yen helping lift Japan's Nikkei more than 1.6%.
Stocks closed modestly lower on Friday as a drop in energy stocks and investor uncertainty ahead of next week's Fed meeting kept buyers on the sidelines. "I think you are going to see very choppy, very volatile market. That's not necessarily that bad, it gives folks like us opportunity to buy good companies at less expensive prices," said Andrew Seibert, senior portfolio manager at Stewart Capital.
The fallout in the subprime mortgage industry continues to trouble the markets, and analysts expect the issue to be at the forefront of investor concerns next week.
Oil prices fell on Friday amid concerns about a slowdown in U.S. economic growth.
Hey folks--here's a look at the top percentage gainers and losers from Thursday of this week.Webex is up 22.03% if you bought it on 3/14 at $46.20 and held/sold on 3/15 at $56.38. Webex agreed to be acquired by Cisco for $3.2 billion.
Comedienne Judy Gold is currently in 2nd place in "Trading With The Stars." And "hello"--as she likes to say, she's just not satisfied to be there. CNBC's Michelle Cabruso-Cabrera interviewed Judy on "Morning Call." Judy is the celeb trading on the show's first hour. She gave her take...
Here's a look back at the Million Dollar top percent gainers and losers so far this week. As of the close on 3/14, the top trades were: Champion Enterprises, a homebuilder, up 13.94% if you bought on 3/13 at $8.25 and sold on 3/14 at $9.40.
Stocks are heading for a lower opening as snow falls on Wall Street and investors await consumer inflation data and consumer confidence numbers. Today is the quadruple witching day for the expiration of stock futures and options, but the resulting volatility may have already been played out when we saw the market take a roller coaster ride earlier this week. Asian markets were weaker overnight, and European stock markets are trading lower ahead of the New York open.
Stocks closed higher amid continued volatility, reflecting guarded investor optimism ahead of next week's Fed meeting. "The mood of the market is as variable as the weather here in Manhattan, it's hot one day and cold the next. It's likely to remain that way at least through the end of the quarter," said Charles Crane, managing member with Scotsman Capital Management.
The U.S. Federal Trade Commission voted to challenge plans by natural gas company Equitable Resources to acquire a subsidiary of Dominion Resources.
Crude oil futures were steady after OPEC decided to keep production levels unchanged, with ministers vowing to press members to implement cuts agreed to since last autumn.
The bad news pouring out of the subprime lending industry has sparked concerns in global equities markets that the burden of bad debts will crimp lending, hurt the already weak U.S. real estate market and thereby slow down the U.S. economy and the consumer.
As we told you, Judy Gold is in 2nd place for "Trading With The Stars." Here's how it was noted on "Morning Call." She's the celeb picker for the show's first hour (see the "mixed emotions" reaction from anchor Mark Haines). Judy's portfolio is valued at $1,004,280.
Bill Seidman, CNBC’s chief commentator, told “Morning Call” that OPEC’s decision to hold production at current levels is good news for the U.S. economy. The Organization of Petroleum Exporting Countries, the source of about a third of the world’s oil, had cut output by 1.7 million barrels a day. OPEC doesn’t plan to meet again until September.
Michael Lynch, president of Strategic Energy & Economic Research, told CNBC’s “Morning Call” that he expects weak demand to cut the price of a barrel of oil to the low $50s by the end of the year. But Kevin Lindemer, executive managing director of Global Energy Services, wasn’t quite so optimistic.