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The Dow rose on Wednesday as surprisingly strong data on durable goods orders soothed some concern about the sluggish economy.
Futures popped nearly 10 points as durable goods jumped more than expected. Dollar rallies a bit but is still down, bonds decline. Commodities up as the dollar is a bit weaker today. While oil is up $1.82 to $118.09, it is a fairly poor response to Gustav and the tensions with Russia. Airlines are weaker.
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Stocks finished flat Tuesday, caught in the August crosswinds of a strong dollar and Hurricane Gustav. Oil rose more than $1 to settle at $116.27 a barrel.
The oil market's taking notice that Hurricane Gustav could be the first major storm to wreak havoc with Gulf of Mexico oil production areas in several years, and it should be clear by the weekend just how serious that threat could be. "This could be the most significant storm in that area since Katrina and Rita" in 2005, said John Kilduff, M.F. Global senior vice president.
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The market rallies on Friday with the Dow, NASDAQ and S&P all up 1% or more, on light volume, but Friday's gains are not enough to boost the market's weekly performance out of negative territory. Energy stocks dominate.
The Dow and S&P 500 rose on Thursday as surging oil prices drove up energy shares, though fresh fears of more credit losses on Wall Street kept gains modest.
US stocks ended mixed Thursday as a jump in oil prices boosted oil stocks and speculation about a government bailout of Fannie Mae and Freddie Mac, and a possible takeover of Lehman Brothers, gave investors some hope that relief is coming.
Ronald Weiner, president and CEO of the RDM Financial Group, says his two favorite stock picks are in the defense and energy sectors.
US stock index futures briefly pared their losses after a drop in jobless claims. Investors remained tentative, however, amid worries about the future of Fannie Mae and Freddie Mac and the impact of geopolitical tensions on oil prices.
Tim Parker, an energy analyst at T. Rowe Price, says his best stocks picks are in the oil services sector.
Oil production has begun falling at all of the major Western oil companies, and they are finding it harder than ever to find new prospects even though they are awash in profits and eager to expand.
Do you believe that financials, pharma and telecom can maintain through an economic downturn? If so, you might want to take a look at the Dow Industrials where some of the largest companies in the world are currently offering investors notably large dividend yields.
It didn't start out promising: CPI stronger than expected, jobless claims stronger than expected, but the market rallied quickly as bulls argued that inflation was peaking, that the U.S. is further along this weak economic cycle than anywhere else in the world, and the dollar rally would be helpful as well.
Stocks closed higher, with bank shares rising broadly, though the market pulled back from its biggest gains as oil stemmed its slide.
The Consumer Price Index is now at levels not seen since 1991. Here is a breakdown of the inflation benchmark to show you where costs are rising most.
Yes, but not for the long term, Cramer says. Here's how you trade this market.
If the trading seems a bit tentative and confusing, you're on the right track. And don't blame it on traders on vacation; there's plenty of that, but there's a reason for the market's uncertainty.
The sharp drop in oil and natural gas prices has produced an even sharper pullback in energy stocks, creating what may be one of the best buying opportunities in years!