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Stocks closed higher as comments from a Fed governor added to positive sentiment, building on gains from merger activity and Wal-Mart's better than expected profits. A drop in oil prices sent buyers into consumer stocks and other sectors that benefit from falling energy prices.
Wild fluctuations in energy stocks have deterred investors recently. But analysts say the sector is still a good bet.
Stocks finished lower as new worries about the mortgage lending market depressed financial shares and a late surge in oil prices drove energy stocks higher. "Crude rallied 4% in 10 minutes and it just turned energy stocks on a dime," said Michael Driscoll, Senior Managing Director in Equity Trading at Bear Stearns.
A sharp rise in crude oil prices failed to deter investors on Tuesday as they nibbled at stocks ahead of the Federal Reserve's decision on interest rates, set for release tomorrow afternoon.
It was a record day for stocks as every sector finished the day in positive territory. The Dow Jones Industrial Average closed at an all -time high while the Nasdaq and S&P 500 were boosted by strength in tech shares. The S&P 500 finshed the day at a new six-year high.
Venezuelan President Huge Chavez announced his intent this month to nationalize his country’s vast oil sector (as well as the nation's largest phone company and utilities). His statements made headlines across the globe, sending the Venezuelan stock exchange down 19% in a single day.
ConocoPhillips said fourth-quarter profits fell 13%, hurt by impairment charges and weather-related transportation delays in Alaska that hurt its production.
Yahoo and Sun Micro are giving a boost to the Nasdaq this morning but the picture for stocks is mixed as investors await today's earnings reports. Europe and Asian markets were mostly higher, and the dollar is recovering some ground against the euro and sterling, after hitting a 14-year low against the British pound. In addition to Iraq, President Bush's State of the Union puts...
The Dow closed at a record for the third straight session and Nasdaq fell slightly as investors bought selectively ahead of earnings reports and on a steep drop in oil.
The Caracas Stock Exchange plunged over 12% Tuesday on continued worries about President Hugo Chavez's plans to nationalize several of Venezuela's key industries, including oil.
The Dow scored its second record close in a row and the Nasdaq had its best week in four months as buyers snapped up oil, financial and technology stocks ahead of next week's earnings reports.
Buying in technology and financial stocks pushed stocks higher, outweighing declines in the energy sector.
Venezuelan stocks plunged after President Hugo Chavez announces plans to nationalize some telecommunications and power generation utilities
Stocks in the U.S. are positioned to move higher on the opening after yesterday's afternoon turnaround. European stock markets are higher, and Asia turned in a mixed performance. Today kicks off the fourth quarter earnings season with the release of Dow component Alcoa's earnings after the bell. OIL DIP: Oil is weaker again this morning and heading close to the $55 technical level traders are watching.
Stocks closed higher after another volatile day as gains in technology stocks and a huge drop in oil prices boosted the major averages.
ConocoPhillips said fourth-quarter production was lower than expected, and refining and marketing margins fell significantly from the third quarter.
Shares of energy companies tumbled Wednesday as unseasonably warm winter weather pushed oil prices down more than 4.5%.
As we've said--OPEC meets tomorrow (threatening production cuts) and U.S. gas inventories are out (down)--as we've been focusing on the global energy picture. But what does it mean for your stock portfolio? Here are some picks from two energy stock analysts on "Morning Call." Jacques Rousseau is an analyst with FBR. He says it all about being selective right now. James Wicklund is Energy Equity Analyst with Banc of America Securities....
Gazprom has declared it wants to be the world leader in liquefied natural gas. Vice Chairman Alexander Medvedev was on "Morning Call" today to talk about it. Gazprom is already the world’s largest gas company – controlling a quarter of the world’s reserves.