U.S. stocks closed mildly lower, recovering from sharp opening losses on selloff overseas, as traders shook off concerns of contagion from Greece.» Read More
Stocks shot out of the gate Tuesday as the price of oil plunged more than $7 and the dollar surged.
Several major U.S. refiners said early checks on Monday showed their facilities were unharmed by Hurricane Gustav, but at least two others were said to be considering dipping into the U.S. Strategic Petroleum Reserve to keep operations going after the storm shut down key waterways.
Gustav weakened to a Category 1 hurricane as it approached the Louisiana cities of New Iberia and Lafayette with maximum wind speeds of 90 mph.
Wednesday's weather models reinforce that Hurricane Gustav could be the most powerful storm to rip through Gulf of Mexico oil and gas production areas since Katrina. It will be the first storm to test the industry's efforts to reinforce its oil and gas production infrastructure.
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.
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.
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.
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.
Stocks ended a mundane week mixed, despite modest gains Friday fueled by plunging oil prices that nevertheless couldn't offset a cautionary trading environment.
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.
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.
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.
Christopher Zook is very suspicious of this summer's stock-market rally. The chairman and chief investment officer of CAZ Investments thinks it's time to get back into energy stocks, which have been taking a beating recently.
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!
Stocks advanced Tuesday, building on the prior session's rally, as a drop in oil prices and encouraging outlook from Cisco helped offset disappointment in Freddie Mac's results.
Tropical Storm Edouard strengthened late on Monday as it churned across the Gulf of Mexico and will likely hit the Texas coast with near-hurricane strength, U.S. forecasters said.
U.S. light, sweet crude oil prices -- trading on the Nymex -- could fall toward $100 per barrel in the short term, Nick Batsford of Hobart Capital told CNBC.