The "Fast Money" traders give their final trades of the day.» Read More
Poor economic data in the form of the GDP and jobless claims did not help prior to the open, but mid-morning oil came down and financials rallied, and suddenly the Dow and the S&P were only a few points from going positive.
The Dow returned to a triple-digit decline as disappointing earnings from a trio of components dragged on the index, as did a disappointing jobless-claims report. The Nasdaq, however, got a boost from a bid for ImClone.
Jonathan Barratt, managing director of Commodity Broking Services, sees more upside to oil prices. He told CNBC that he believes oil prices could return to the $130- to $135-per-barrel level.
Stocks came off their morning lows after a report showed manufacturing activity in the Midwest shifted into expansion mode July.
You can't help but worry a bit more about the economy in the second half now, as the market's focus shifts from a weaker-than-expected GDP report to the Friday jobs data. GDP revisions also show a recession may have started in the fourth quarter of last year.
Exxon Mobil broke its own record for the highest-ever quarterly profit by a U.S. company again Thursday, but earnings still disappointed investors due to weaker-than-expected production.
So Exxon Mobil has just broken its own record again, reporting a mind-boggling $11.6 billion profit on $138 billion in sales. Windfall? Nope: Microsoft is three times more profitable than Exxon.
Stocks plunged at the open as the morning's economic news disappointed: Economic growth was weaker than expected -- even with the boost of the rebate checks -- and jobless claims shot up to their highest level in five years.
Oil inventory data could be as much a factor for stocks as energy markets Wednesday, if the seesaw trade between the two markets continues.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Stocks and oil typically move in opposition, but not today. A late-day rally in financials propelled the Dow to a triple-digit gain, while oil ended near $127 a barrel. The Nasdaq was the lagging index, gaining just 0.4 percent.
A new groundbreaking research that could potentially lead to cure Alzheimer's disease and on how Chesapeake's CEO hopes to move Americans away from "expensive imported oil" to natural gas. Following are today's top videos:
The Dow and S&P 500 climbed higher on Wednesday after an unexpectedly strong report on the job market offset a surge in oil prices.
Oil companies are suffering from staggering crude prices -- and two analysts see buying opportunity.
To give investors an edge, CNBC asked the experts for their best trades now.
Stocks rose Wednesday after ADP reported an unexpected rise in private payrolls and the government announced two measures intended to boost liquidity and provide some stability to financial markets.
First, Merrill Lynch has put a price on CDOs and sold them. Yes, it's $0.22 on the dollar, but at least it is a price, and that is what the Street is looking for. Second, the Conference Board consumer confidence index was up, particularly the futures expectation component was up, off the record lows, which dovetails with the uptick in University of Michigan confidence numbers.
Investors are closely watching quarterly reports from Exxon this week to gain new insights into the energy bubble. What will they reveal?
Jon Hilsenrath of The Wall Street Journal offered his weekly "Five for five": the five companies and their stocks that you must pay attention to this week.
Oil was down last week, and we had some decent economic numbers on Friday, so the questions on everyone's mind is what groups might be overbought/oversold to play for a short-term bounce. The chief groups are energy and financials.