NEW YORK, March 7- Famed oil bull Andy Hall's hedge fund rose nearly 8 percent in February in its biggest monthly gain in 2-1/ 2 years, boosted by a rally in crude oil that could help Occidental Petroleum's chances of selling its stake in the fund.» Read More
Stocks are shaking off the Bernanke blues and look set to join European stock markets in a move higher this morning. The market took a dive yesterday when Fed Chairman Ben Bernanke reminded investors the economy is slowing, the Fed fights inflation, the housing market is uncertain, and oh yeah, he never really said he was going to cut rates.
Bermuda-based drilling rig contractor Nabors Industries on Thursday forecast first-quarter earnings below Wall Street expectations due to lower-than-expected rig activity and higher costs.
Stocks closed sharply lower after being down all day on Fed Chairman Ben Bernanke's remarks that "economic uncertainty" has increased. "The market has these little flips up and down but it's been quiet and down all day long," said Mike Driscoll, head of listed trading at Bear Stearns
Edward Bastian, chief financial officer for Delta Air Lines, said the company’s plan to emerge from bankruptcy assumes oil will be priced at $65 a barrel or higher.
U.S. crude oil futures ended more than a dollar higher Wednesday as Iran's confrontation with Britain and the West helped lift prices along with a government report showing a surprise draw in U.S. crude inventories.
Danish shipping giant A.P. Moller-Maersk's full-year profit fell 22% after freight shipping rates fell and as the government raised its tax rate on oil and gas activities, the company said Wednesday.
Royal Dutch Shell PLC said Wednesday it will extend the contract of Chief Executive Jeroen van der Veer by a year, pushing his retirement date to June 30, 2009.
Hey folks. Here's our update on stock performance--as of the close on Tuesday, 3/27. Most of the names are familiar but there are some new ones (GME) that are having an impact. Fremont General may have run its course as it falls out of the most widely held stocks. News seems to have an impact so you might want to keep an eye on earnings, upgrades and business news. FYI: contest registrations to date: 459,968.
Here are some of Wednesday’s big movers on European stock markets: Bauer, Vallourec, Aberdeen Asset Management, Next, Total, Beneteau, Lufthansa, TNT, Technical Olympic and Siemens
Stocks are under pressure ahead of the opening as the influence of jittery oil markets adds to the week's mounting worries about the state of U.S. housing and its potential impact on the economy. Stock futures look sharply lower, and the dollar dipped after reports of weaker than expected durable goods orders.
Here's our Fast Money Final Trade. Our guys give you tomorrow's best trades, tonight!
For a little while this afternoon, the oil pits at the Nymex were in a frenzy. The rumors of Iran firing on a U.S. naval ship were spreading yet no one seemed to be able to verify them. How do the traders get their information - and when they do, how do they separate rumors from fact and trade appropriately?
If Eric Bolling is right, and speculation about tensions with Iran could metastasize and affect all corners of the market, how can investors manage risk and create opportunity?
Late this afternoon, Nymex crude oil futures spiked over $5 to $68 on rumors that Iran had fired on a U.S. naval ship in the Persian Gulf. The U.S. government quickly and flatly denied the rumor, but the mere speculation sent crude prices to their highest level in over six months (prices since came down $4 to settle just above $64.)
Stocks closed lower after a new warning from the housing industry kept buyers out of the market. "Even though we may test the lows just because some short-term investors may get out of the way, this market has been really good shape," said Richard Steinberg, president and chief investment officer at Steinberg Global Asset Management. "If we pull back, investors should be reassessing their portfolios and looking to pick up bargains."
The U.S. Navy on Tuesday said it had no information to substantiate a market rumor that Iran had fired at a U.S. naval vessel in the Gulf.
Rod Smyth, chief investment strategist for Wachovia Securities, told CNBC’s “Closing Bell” that the stock market can live with the current price of oil, and a return to previous highs is unlikely.
Hey folks. Here's the best performing trades by % gain from Friday's close to Monday's close: Biosite--If you bought on Friday at $55.38 and held/sold on Monday with a close of $83.80, the contestant gained 51.32% on the trade (9 out of the 10 current weekly leaders as of Monday's close bought BSTE on Friday).
A subsidiary of the state-controlled Russian oil company Rosneft on Tuesday bought at auction a 9.44% share in Rosneft that had been owned by the bankrupt oil giant OAO Yukos.
Stocks ended mixed as the major markets bounced off the day's lows following disappointing monthly housing data. "We may see some weakness, but overall we like the market. I think the direction is going to be higher," said Sebastian Leburn, chief investment officer at Weiss Capital Management, in an interview with CNBC.com.