George Davis of RBC says that the long-term picture for gold looks very week, with CNBC's Jackie DeAngelis and the "Futures Now" traders.» Read More
Oil's trend lower has whipped up buying in stocks and could do the same Wednesday, if a string of major blue chips' earnings don't disappoint before the opening bell.
Stocks are casting a wary eye on oil and, lacking any dramatic events, earnings news could steer the market.
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
Volatility reigned as the Dow closed below 11,000 for the first time since July, 2006 on Tuesday, followed by a market rally and the biggest 3-day gain of the Dow since March, 2003.
Citigroup's better-than-expected earnings report turned the tide ahead of the open.
Earnings from J.P. Morgan and some other big companies could sway the market's early direction, but traders are closely watching oil to see if it will make or break the upswing in stocks.
Today's CPI data follows yesterday's disappointing PPI. The 1.1% rise in the month of June is the biggest one month rise since September 2005 and the biggest year over year increase since 1991. Here is a break down of where costs are rising the most.
Oil's move could be a key trend in Wednesday's markets, as traders watch more Fed testimony, a bunch of earnings reports and another helping of inflation data.
With the Dow at levels not seen since July 2006, today's weak economic data is weighing further on the markets.
The credit crisis continues to beat up Wall Street, which in turn is creating turmoil in the Asian markets. Year-to-date, Tokyo is down over 15%, Syndey is off 23% and Shanghai is down a whopping 45%. Are the bears sticking around? We seek answers in the Dow's chart.
Fed Chairman Ben Bernanke's testimony before a Senate committee takes on even greater importance for Tuesday's markets, now that the Fed and Treasury have promised to backstop mortgage giants Fannie Mae and Freddie Mac.
Analysts say hurdles for the stock market in the coming week include continued uncertainty about financial sector—specifically mortgage giants Fannie Mae and Freddie Mac—as well as the unrelenting pressure of rising oil prices.
For the week ending Friday, July 11, 2008, the U.S. markets finished in bear market territory with the Dow dipping below 11,000 during intraday for the first time in 2 years.
Volatility rules the markets as the Dow dips below 11,000 intraday on Friday for the first time since July, 2006. The CBOE volatility index hits an intraday high of 29.44, the highest level since March 19th, oil hits a new record, the dollar falls.
GE shareholders would probably like to forget last quarter and the stock's 28% decline. But what about the future? Can spin-offs and recently-announced acquisitions reignite growth at GE?
Wall Street's bears roared back Wednesday, and stocks will have to face down tepid chain store sales and testimony from Fed Chairman Ben Bernanke in Thursday's session.
The conventional wisdom on Alcoa is pretty simple: surging energy costs + aluminum price increases that lag other commodities = unimpressive profits. Unless the metals giant surprises (nearly) everyone, earnings season is set to start with a whimper.
The slump in global stock prices could just be getting started as a few months of declines may not be enough to correct the years of booming stock prices, investment managers told CNBC.
Historically on average, the U.S. Markets have been relatively flat the week after Independence Day, with not much left to cheer about. However, the Dow and Nasdaq Composite have been up ~60% of the time for the week following the 4th of July, while the S&P has been up ~70% of the time.