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Two days ago the Ceridian-UCLA Pulse of Commerce Index came out with a rather troubling outlook. For those new to the index, it is published by the UCLA Anderson School of Management and Charles River Associates and tracks fuel consumption data for over-the-road trucking, writes Stephen Schork.
Stocks came back from the lows of the session in the last few minutes of the session to end just slightly lower after a tepid government bond auction, a disappointing jobs report and the fallout continued over foreclosure practices at major banks. Bank of America and JPMorgan fell, while McDonald's rose.
Stocks pulled back from the lows of the session but remained down after a tepid government bond auction, a disappointing jobs report and the fallout continued over foreclosure practices at major banks. Bank of America and JPMorgan fell, while McDonald's rose.
The rally in corn has also helped fuel strength in the ethanol market… and that was even before the EPA approved an E15 waiver yesterday (gasoline with 15% ethanol) for the 2007 vehicle model year and beyond.
Stocks fell after news of higher inflation and weakness in the employment market, and as financial stocks skidded. McDonald's and Verizon rose, while Bank of America and JPMorgan fell.
U.S. stock index futures slumped after the government reported jobless claims rose to 462,000 last week, and producer prices rose 0.4 percent in September.
As OPEC prepares to meet tomorrow (Thursday) in Vienna, the group expects demand for its oil to weaken. According to yesterday’s release of their monthly market report, OPEC estimates demand for its oil at 28.6 MMbbl/d in 2010. That represents a downward revision...
Overall production in the Lower 48 US States increased to 64.4 Bcf/d in July, up 3.3% from July 2009. The strong production helped somewhat mitigate the spike in gasfired cooling demand.
The Obama administration on Tuesday plans to announce that it is lifting the moratorium on deep-water oil drilling, after putting in place new rules intended to tighten safety. The NYT reports.
The crude oil and natural gas markets are mirror images of one another. Bears in the former are scrambling to defend the 62% retracement (May 03rd/25th) at $84.67, while bulls in the latter are hanging by a thread, i.e. on Friday the bears hit a new year-to-date low, $3.583.
Oil prices may pullback this week as investors question whether levels over $80 a barrel are consistent with the fundamentals, a CNBC poll of traders and analysts showed.
Yesterday, the DOE reported a massive injection of natural gas, 85 Bcf, into underground storage last week. In the report’s wake, Nymex natural gas plunged from a $3.799 high in the ten minutes prior to the report’s release to a $3.692 low in the ten minutes following the release.
Tim Seymour, founder of EmergingMoney.com, talks US stocks that are getting into emerging markets around the world.
The "Fast Money" traders give their calls on Oracle, Hewlett-Packard, IBM and more.
We still like this market lower at this point, but with the dollar in its current freefall, our confidence in a selloff is low.
Over the last nine sessions NYMEX crude oil has rallied by $8.11 a barrel or 10.9%. In fact, last night the greenback hit its lowest low against a basket of major currencies (DXY) since January. What does this mean for The Schork Report’s newly acquired bearish bias in the NYMEX liquids.
The bulls were giddy on Tuesday amid growing expectations that central banks around the world were ready to do even more to boost the struggling recovery.
All inbound and outbound traffic to the Houston Ship Channel remains idle as repairs to a downed power line are completed. On Sunday morning the U.S. Coast Guard halted traffic to the epicenter of the U.S. refining complex after a barge struck a highline electrical tower in Baytown. The channel is estimated to stay closed until this evening.
New signs emerged on Tuesday giving bullish investors more reasons to believe the S&P will march right up to 1,200 before Election Day.
Nymex natural gas never looked weaker at the end of last week. Analysts at The Schork Report changed their technical bias to bearish on August 06th. Since then, the spot contract for November delivery has closed lower in 24 of 39 sessions (62%) with an average loss of $0.07 per dekatherm, per session.