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Oil tumbled below $76 per barrel Friday, dragged down as disappointing U.S. economic data helped send stock markets down again
Stocks closed higher as investors were encouraged by strong earnings reports despite lingering subprime concerns. "There wasn't much negative news today from the subprime market and people still want to buy the market," said Todd Leone of Cowen. "We were way oversold and I think you have some people putting money to work."
Oil rose near an all-time high on Thursday, as OPEC officials said the producer group would not hike output, despite concerns of a supply shortfall.
Oil company Total said Thurdsay that second-quarter net profit was little changed as improved refinery margins failed to offset the weaker dollar.
Oil prices retreated after jumping to a new record Wednesday on the government's report of a steep drop in crude inventories and surge in refinery activity.
Oil futures settled at a record high above $78 Tuesday on expectations that crude inventories fell last week and reports of new violence in Nigeria, a large oil producer and key supplier to the U.S.
Oil fell on Monday as traders took profits after supply concerns sent prices above $77 abarrel last week and near record highs.
CNBc's Bob Pisani sees several reasons investors should be optimistic about the market. He shares what traders are telling him at midday.
Cramer explains why he changed his mind on Exxon and Annaly Capital is the best play on a pause in commercial construction.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks suffer their worst weekly declines in more than four years as worries about credit and lending undermine investor confidence.
Oil jumped more than 2 percent to its second highest settlement on record on Friday as supply concerns and signs of U.S. economic growth helped counter worries about falling stock markets.
Stocks closed sharply lower and the Dow saw its biggest decline since the market meltdown in late February as disappointing news from the housing industry renewed concerns about credit markets and the U.S. economy. "This is just one more of the period panics that we've had in the last six months," said Barton Biggs, managing partner at Traxis Partners. "The puncture of the debt bubble is a positive development and restores some kind of sanity to the debt market."
Exxon Mobil posted a 1% drop in quarterly earnings on Thursday, missing expectations, as weaker natural gas prices and production offset higher margins from production of gasoline and chemicals.
Oil prices fell on Thursday as a sharp drop in the U.S. stock market spurred concerns about crude demand growth, reversing an earlier rally.
Credit worries and bad news from home builders trumped any positives from the stream of earnings being reported this morning. Wall Street is set up for a steep drop on the opening and the talk in the market focuses on whether the takeover boom is ending.
Oil prices jumped on Wednesday after U.S. government data showed a draw in crude inventories as refiners' utilization increased.
Oil rose Tuesday afternoon to well over $73 per barrel -- after sinking more than $1 below $73 a barrel earlier in the day. The slide was attributed to further assurances from OPEC that it would pump more crude if needed, as well as expectations of higher U.S. fuel stockpiles.
BP's new Chief Executive Tony Hayward pledged to turn around Europe's second-largest fully-listed oil company on Tuesday as a drop in second-quarter profits highlighted its industry-lagging performance.
Second-quarter earnings are mostly beating expectations so far, and much of that gain can be tied to growth overseas. For that reason, many analysts believe investors should be looking at big multinational companies with strong foreign business.
The market is too precarious for short-term speculation right now. Cramer's strategy: Take profits. Don't get greedy - get rich.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.