Even as U.S. shale companies pursue mergers, analysts don't expect them to become echoes of Big Oil deals that eventually fell flat.» Read More
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.
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.
Exxon Mobil – the most profitable company in U.S. history and also one of the most loathed among climate change activists. But going green isn't just good for the environment – it could also be good for the oil giant’s bottom line. Chris Fox of Ceres – an organization that pushes companies on climate issues on behalf of institutional investors – and Paul Sankey, an oil analyst at Deutsche Bank, debated the issue on “Street Signs.”
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
Chevron said it expects fourth quarter earnings to be below third-quarter figures, adversely affected by lower commodity prices, lower downstream margins and lower refinery utilization due to planned maintenance and construction activities worldwide.
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.
Shares of energy companies tumbled Wednesday as unseasonably warm winter weather pushed oil prices down more than 4.5%.
Both the Dow Jones Industrial Average and the S&P 500 ended the day higher – with the Dow setting another record, closing up 30 points and the S&P up 3 – all this despite worrisome economic data coming in the form of a rise in wholesale prices and a decline in housing permits. The NASDAQ couldn’t keep up, falling 6 points on continued weakness in the technology sector.
U.S. stocks moved higher after the November CPI report took investors by surprise – showing that consumer prices were unchanged for the month (an increase was expected). CNBC’s Mary Thompson had her “Eye on the Floor” of the NYSE on the last day of the trading week...
Stocks fell after trading in a narrow range all day while investors waited for Friday’s jobs report, the last key economic indicator before next week's Federal Reserve meeting.
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.