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The new reputational/political risk associated with the market in key stocks (BP, Goldman, Massey) is the biggest story of the week. A good example of the uncertainty in the trading community is a note sent out by Buckingham Research this afternoon regarding Goldman. It is titled: Litigation/Political Risk Too Difficult to Handicap...
Oil service names weighed heavily on the S&P 500 as oil from the massive spill in the Gulf of Mexico oozed into Louisiana's ecologically rich wetlands.
Oil analysts and environmental experts say the economic impact of the Gulf coast oil spill could grow dramatically, as the leak continues and the slick spreads.
High winds and rising surf are forcing the oil to shore more quickly and over a wider space. Florida has declared a disaster area, and there is little doubt that it will affect Mississippi and Alabama, too
With oil from a huge spill in the Gulf of Mexico beginning to lap at the shores of coastal Louisiana Friday, crews are getting in place to assist wildlife. Scenes like this are familiar to Procter & Gamble, the maker of Dawn dish detergent, which is often used to clean birds' oil-soaked feathers.
Advocating the old Wall Street saying, "sell in May and then go away," a European analyst said there are "dark clouds ahead" in the markets.
Also, Cramer's take who's to blame for the Gulf oil spill, and thoughts on why Goldman Sachs stock is still struggling.
Stocks continued to fall in the final hour as Goldman Sachs tumbled on reports of a federal probe, prompting investors to unload bank shares.
Once again Goldman Sachs is the story of the day – but this time the drama surrounds the stock’s price action.
Spills, investigations, and reputational risk: Several companies in 3 different areas (energy, financials and coal) are experiencing problems Friday.
BP says that the offshore drilling accident could cost the company several hundred million dollars. But the long-term damage to BP’s reputation is likely to be far higher, says the NYT.
Stocks were lower in midday trading amid disappointing economic news, with financials and technology leading the way.
Stock index futures rose Friday as fears of a default in Greece subsided after officials said a rescue plan could be unveiled as early as Friday night or during the weekend.
Markets could be in store for another dose of positive U.S. economic data Friday, as the Greek debt crisis seems contained for now.
A terrific day, with 3 stocks advancing for every 1 declining, volume moderate, as we again approach the highs for the year. It's been a fairly broad advance, with particularly strength in financials and cyclicals like consumer discretionary and industrials.
Stocks rallied Thursday, led by the financials, after fears of contagion from the European debt crisis eased and U.S. jobless claims fell.
Stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports.
On the heels of the Napolitano press conference, in which the Homeland Secretary said the Deepwater Horizon spill in the Gulf of Mexico was of "national significance," energy stocks have come off their highs, and several are in negative territory.
There’s more than one company at fault for this accident, the Mad Money host says.
Energy prices were quiet yesterday (Wednesday). Natural gas recovered slightly for the first time this week but was trending lower in after-hours trading. For today’s DOE release, the crowd is looking for a 70 Bcf injection. Meanwhile crude oil was strong despite a larger than expected build, and the products fell on the back of another build in ultra-low sulfur diesel stocks. Expect increased volatility as the products approach expiry.