SINGAPORE, March 11- Brent futures were steady on Tuesday and held near $108 a barrel as a worsening crisis over Ukraine stoked supply disruption fears, while concerns over demand growth from the world's two biggest oil consumers kept prices under pressure.» Read More
Timothy Ramey, senior research analyst at D.A. Davidson & Co., told CNBC’s “Squawk on the Street” that the Tyson Foods-ConocoPhillips deal to produce biodiesel from animal fat will plump Tyson’s bottom line.
Here's our look at the stocks making our best and most active lists. Small caps seem to be the main focus among contest traders. And Freemont General is back strong--not only as a most active but as a best performer. It hasn't played itself out yet as news about selling some of the company's subprime loans had an affect. Also--news on Sallie Mae had an impact on more than just iteself. Take a look...
Stocks are set to open higher, reversing an early negative trend, after consumer inflation data showed muted increases in core inflation. However, the CPI rose at a 0.6% rate when including food and energy, its highest rise since last April. Housing starts rose 0.8%, beating analysts expectatons but below February's increase.
Investors celebrated Tax Day with a broad-based rally and the S&P 500 closed at its highest level in nearly seven years, boosted by Citigroup's strong earnings report and a surge in M&A activity. "Expectations for this quarter are quite low and so far everything has beat, which has given the market a boost," said Barry Hyman, market strategist at EKN Financial.
U.S. crude oil futures rose in choppy trading, with products futures slumping as crude was pressured by OPEC comments on supply and demand and by news that Shell expects to resume its Nigeria Forcados crude stream in late May or early June.
Chris Jarvis, founder and president of Caprock Risk Management, told CNBC’s “Morning Call” that unusually cold weather in early April has hammered many businesses on energy costs. He said many businesses that hedge on their natural gas supplies got caught short this year and are forced to pay higher rates on the spot market.
Wal-Mart, the world's largest retailer, has reclaimed its position as the largest corporation in the U.S. among the Fortune 500, pushing Exxon Mobil down to number two. With more than $351 billion dollars in revenue, the magazine ranks Wal-Mart slightly ahead of the energy giant. Wal-Mart is on top for the fifth time in six years.
The stock market enters the week boosted by a merger-driven buzz. Asian stock markets closed higher, and merger activity is helping European markets there gain. Earnings news, retail sales for March, and the Empire state manufacturing survey could all influence trading. Retail sales for March were up 0.7%, more than expected.
Top Asian oil refiner Sinopec beat forecasts with a more than two-fold jump in quarterly earnings as falling oil prices helped its refining arm turn around, and it flagged a 50% surge in first-half profit.
Oil prices eased slightly on Friday after the top U.S. energy official said he was confident there would be enough gasoline supply to meet peak summer driving demand.
The Dow Industrials end one winning streak but quickly begin another as stocks spring ahead in April.
Stocks closed higher Friday following positive earnings guidance from a handful of big companies, pushing the major indexes up for the week. Bullish quarterly earnings forecasts by both Merck and McDonald's lifted the Dow Jones Industrial Average, which ended up 0.4% for the week. The S&P 500 rose 0.6%, while the Nasdaq climbed 0.8%.
As corporate earnings reports begin in earnest next week, merely meeting Wall Street expectations may not be good enough. Companies may have to beat forecasts to compete for investor dollars.
Angel Mata, managing director of equity trading at Stifel, Nicolaus Capital Markets, told CNBC’s “Power Lunch” that investors should keep an eye on bank earnings next week.“On Monday and Tuesday, a lot of the banks reporting,” Mata said Friday. “The banks have clearly been one of the most underperforming groups since the beginning of the year. I have a hard time believing that the market can sustain any kind of upward momentum without the banks turning around.”
David Palmer, senior restaurant analyst at UBS, told CNBC’s “Squawk on the Street” that McDonald’s rode its solid brand name and competitive positioning to strong first quarter earnings.The world’s largest restaurant chain reported first quarter 2007 earnings of 62 cents a share, beating the consensus estimate by five cents. “The management is very good,” Palmer said Friday. “These guys are gaining market share rapidly in the U.S. and Europe – and there’s nothing special going on in terms of the industry.”
Phil Flynn, a representative of Alaron Trading, told CNBC’s “Squawk Box” that refinery outages and strong demand will create tight gasoline supplies this summer.“This is the worst I have ever seen it at this time of year,” Flynn said Friday. “Our supply vs. demand has never been this tight before. It’s going to be a very dangerous summer and real bad luck for the consumers.”
Hey folks. Here's a look at the contest stocks making "news." The best performing stocks seemed to gain steam from takover news. Worst performers lost on earnings. The most actives remain mostly the same--except for the appearance of Charter Comm. Again, "Mad Money's Jim Cramer seems to have had an affect there. Take a look:
Oil markets are nervous animals nowadays. Given the tensions between Iran and the U.K. since late March over Tehran's seizure of 15 British sailors, the prospect of diplomatic efforts failing to solve the stand-off haunted the market. That's raised fears of a military confrontation in the Persian Gulf. After Iran pardoned and freed the 15 sailors, the market was so relieved that oil prices dropped by over $2.
Stocks closed with broad gains as investors bought up large cap stocks, shrugging off a 3% gain in oil prices. "People are looking for a little bit of value, particularly in the large cap sector," said Dan McMahon, head of listed trading at CIBC World Markets. "It's not a huge move but we stopped the bleeding today."
Hey everyone. Here's a recap of today from the leaderboard, to the most active and widely held stocks and the trivia questions. Also--don't forget to send in your emails for tomorrow (Friday) night's "How To Win" contest show. Have your questions read on the air and get the answers you need. Send them to email@example.com. The video here is from the "Power Lunch" crew. "How to Win" airs tomorrow night at 7 PM EST ONLY on CNBC-TV.