*U.S. crude for January delivery was up 9 cents at $97.47 a barrel by 0011 GMT- on course for a gain of more than 5 percent for the week, the most since the week to July 5. *Seaborne oil exports from OPEC, excluding Angola and Ecuador, will rise by 710,000 barrels per day in the four weeks to Dec. 21, an analyst who estimates future shipments said on Thursday.» Read More
President Bush wants us to kick the gas habit and cut our use of gasoline by 20% in 10 years. Detroit's automakers have been clamoring for this by pledging to build even more E-85 ethanol cars and trucks. Still, I wonder if this will really happen.
Yahoo and Sun Micro are giving a boost to the Nasdaq this morning but the picture for stocks is mixed as investors await today's earnings reports. Europe and Asian markets were mostly higher, and the dollar is recovering some ground against the euro and sterling, after hitting a 14-year low against the British pound. In addition to Iraq, President Bush's State of the Union puts...
Stocks ended the day higher as investors evaluated a mixed batch of quarterly earnings reports and energy stocks moved higher on a spike in oil prices.
Does it seem as if the price of oil has been unusually volatile lately? Today, it rose nearly 2% , while earlier in the month it dropped to 19-month lows. Throughout history, speculators have moved the commodities market, but is there more going on now than meets the eye? On today’s “Power Lunch” CNBC’s Sue Herera found out....
Driving to your favorite steakhouse might be more energy efficient in the future--but cleaner air and better gas mileage will begin to cost you more for that t-bone platter. Higher corn prices are likely to be trickling down into areas--including prices for meat. The reason? corn is a main ingredient for making ethanol and corn is used for feeding livestock like cattle.
We all remember the headlines that came out of last year’s State of the Union address: America is addicted to oil. It’s been a year and the federal government has made little progress in ending our “oil addiction.” But is there even anything the government or the President can do about it? Karen Wayland of the Natural Resources Defense Council..
Stocks opened initially higher as strong earnings from United Technologies helped boost the Dow. Energy stocks gained as oil moved above $53 a barrel.
Stocks in the U.S. for now look headed to open flat to lower-- after yesterday's rocky trading. Europe is moving lower and oil is getting a lift from cold weather. Some big companies will roll out earnings reports today, to a market that has become hypersensitive to corporate earnings growth. Bank America, Johnson & Johnson and DuPont all report today.
Royal Dutch Shell said on Tuesday Shell Canada Limited had recommended a sweetened deal worth C$8.7 billion ($7.4 billion) for the remaining 22% of shares it does not own.
Saudi Arabian Oil Minister Ali al-Naimi is aiming for moderate oil prices and assured Japan on oil supplies during emergencies, a Japanese government official told reporters after a meeting on Tuesday.
SK Corp., Asia's third-biggest oil refiner, posted a sharp fall in its quarterly profit due to weak refining margins and mild winter weather that has been hindering demand for fuel oil.
Stocks ended sharply lower after a day long selling spree, sparked by worries corporate earnings growth is showing signs of weakening.
U.S. front-month February crude oil futures retreated from early highs above $53 to end a choppy trading session 1.7% lower as the February contract expired at the end of the session.
It takes self-confidence to be the chief executive. Faith in the business environment is another matter. Edward Kopko, CEO of Chief Executive magazine, told "Morning Call" that the C-level executives his publication surveyed fear the U.S. economy may be faltering.
San Francisco Fed President Janet Yellen is considered a dove when it comes to inflation – but she has indicated recently that she still thinks it’s a problem for this economy. So while most economists have been betting on a rate cute coming up on the horizon, is it possible the central bank will hike interest rates soon? David Wyss, chief economist at Standard & Poor’s and Carol Tannenbaum, chief economist at LaSalle Bank/ABN Amro....
Stocks in the U.S. are leaning towards a higher open, as investors brace for a barrage of earnings news. Oil is bucking its recent downtrend and is slightly higher as cold weather finally settles into the Northeast. European stocks are trading higher, helped by mining, metals and oil stocks. Asian markets closed higher with Tokyo at a 9-month high.
U.S. stock investors will be taking their cues this week from a barrage of earnings reports as well as from economic data on housing activity and sales of big-ticket items.
Investors will be ducking earnings bombshells and hoping to make some gains this week in what promises to be the busiest couple of days of the fourth quarter earnings season. President Bush's State of the Union address Tuesday night and the Democratic response is the big political event of the week. Major economic reports include housing data and durable goods. But we know it will be the Oscar nominations Tuesday that everyone will be talking about.
"We think we're getting close to a top," said Bill Strazzullo, chief market strategist for Bell Curve Trading. "The problem is the market is counting on this booster shot of lower interest rates and some of that has been taken out."
Valero Energy says Chairman Bill Greehey has resigned from the company's board so that he can focus on his jobs as chairman of Valero LP and Valero GP Holdings