Futures pointed to a negative open for Wall Street Friday as crude oil dropped below $71 a barrel and banks dragged after Bank of America lowered its outlook for the sector.
Ron writes, "US Steel has had a real fast run up the last two weeks. Do you think the steel companies will continue to climb? Or is this a good opportunity to sell short?"
Stocks racked up gains across a wide range of sectors on Thursday, boosted by rising commodity prices, improving labor market conditions, and a pullback in Treasury yields.
Stocks advanced Thursday, but ended well off their earlier highs, amid weakness in techs and consumer discretionary as oil topped $73 a barrel.
The notion of a jobless recovery is gaining traction among those who think the economy is finally getting back on its feet—but not enough to move the stock market.
Stocks remained higher Thursday but pulled back somewhat after strong demand for the latest 30-year Treasury auction.
Stocks opened slightly higher Thursday after reports showed jobless claims fell last week and retail sales ticked higher in May.
European credit spreads edged wider and gilts and bunds prices tumbled Thursday, after the US Treasury's 'sloppy' auction which reinforced investors' expectations that the Federal Reserve will have to raise rates sooner rather than later.
Futures wavered Thursday as a quick pop after the surprise drop in jobless claims fizzled out.
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Worries that rising interest rates could put a damper on consumer and business spending dragged down both the Dow and S&P on Wednesday.
The Obama administration just named Kenneth Feinberg as government pay czar. Will the move boost investor confidence in the financials sending them higher?
The recent speculation that the Federal Reserve may be forced to raise rates sooner because of a faster-than-expected improvement in the economic outlook is baseless, and the dollar can only go down, Steven Nigg, CEO of SWISS E TRADE, told CNBC Wednesday.
The Obama administration's attempts to fight the financial crisis with more cash is like treating a bad tooth with Novocain instead of a root canal, Nassim Taleb, author of "The Black Swan," told CNBC Wednesday.
Stocks ended mixed in choppy trading Tuesday after 10 banks were approved to repay TARP loans. But tech stocks gained after Texas Instruments raised its earnings and revenue targets for the second quarter.
Stocks turned mixed Tuesday after the banks approved to repay TARP loans were named. But tech stocks held onto their gains after Texas Instruments raised its earnings and revenue targets for the second quarter.
The Treasury will hold three auctions this week totaling about $65 billion. Tuesday will be a $35 billion offering of three year paper. Wednesday has a $19 billion 10 year deal followed by Thursday's $11 billion 30-year offering. I am concerned with the 10 and 30 year auction and who shows up and in what force.
Stocks opened higher Tuesday, with bank stocks rising as some of the nation's largest institutions poised to repay government bailout money.
The Treasury will hold its latest auction for 3-Yr notes this morning, 10-Yr notes tomorrow and the long bond on Thursday. Traders are watching to see whether demand will continue to fall in anticipation of Fed tightening in the months ahead.
Futures showed a relatively flat open for Wall Street on Tuesday as the dollar's rally, fueled by last week’s better than expected jobs report, fizzled out and some investors went back into stocks.