Inflation data could play a big role in setting the course for stocks, which so far are looking for direction ahead of the opening. Asia markets were mostly lower, while Europe's stock markets this morning are mostly higher.
A Dow Chemical executive who was fired after being accused of engaging in unauthorized discussions with third parties about selling the company told CNBC's David Faber that "it never happened." Romeo Kreinberg, head of Dow's performance plastics operations and a 30-year company veteran, said accusations that he violated the company's code of conduct are "totally untrue."
With global merger volume running 40% ahead of last year's record levels, and private equity barbarians scooping up one company after the next, the Wall Street rumor mill - in turn - is also running at a record pace.
Stocks closed modestly higher on Tuesday as the Dow Jones Industrial Average stretched its winning streak to eight straight sessions. Still, caution ahead of the beginning of earnings season kept many investors on the sidelines.
The chief executive of Dow Chemical on Tuesday shot down speculation that the company is in talks with private equity for a leveraged buyout. “We are not in discussions with anyone in LBO,” Andrew Liveris told CNBC’s David Faber.
Stocks are searching for direction after a 7-session winning streak for the Dow 30. European stocks are moving higher after yesterday's holiday there, and Asian stocks were mixed overnight.
Stocks closed mixed on Monday after a modest follow through rally from Friday's strong jobs numbers quickly fizzled as investors looked ahead to quarterly earnings season. "I think with the next few days we're in a holding pattern waiting for earnings to appear," said Zachary Karabell, portfolio manager at Fred Alger Management.
CNBC's David Faber reports that those aware of private equity interests say Dow Chemical has told them not to bother approaching the company. Dow shares are trading higher, after a U.K. paper reported a consortium of Middle Eastern investors and American buyout firms is preparing a $50 billion approach for Dow Chemical in what could be the world's biggest ever leveraged buyout.
Stocks closed higher amid continued volatility, reflecting guarded investor optimism ahead of next week's Fed meeting. "The mood of the market is as variable as the weather here in Manhattan, it's hot one day and cold the next. It's likely to remain that way at least through the end of the quarter," said Charles Crane, managing member with Scotsman Capital Management.
Tips are for waiters…but rumors, if you know how to use them, can make you some mad money.
Stocks closed lower on concerns about economic growth and a rise in crude oil to its highest levels of the year. "Even with the corrective action we've seen since last week, consolidation is occurring in an orderly manner and that's positive," Gene Peroni, Senior Managing Director of Equity Research at Claymore Advisors, told CNBC.com.
Dow Chemical's stock rose sharply on Monday, a day after the U.K.-based Sunday Express tabloid newspaper reported that the company could be a target of a leveraged buyout.
Dow Chemical said fourth-quarter profit fell 11%, as higher costs offset a modest increase in sales. But the results outpaced analysts' expectations.
Dow Chemical is looking to make acquisitions, but the amount of private-equity money floating around has made lots of businesses in chemical sector expensive, the company's chief executive told CNBC.
Wall Street is undecided so far on where it will start the day though early earnings news and housing data could help set the tone. For now, eBay's strong profits and big stock move is a bright spot lifting the Nasdaq, which bounced higher on a tech rebound yesterday. The Dow, fresh off its 26th high since October, is flattish.
The Dow is sharply lower--even as investors appear to be waiting for the afternoon news from the Federal Reserve on interest rates before making trades. A few stocks --are moving. Melissa Lee took a closer look at today’s large cap trading; she’s CNBC’s “Eye on the Floor.”
It's nearly 2007 - time for investors to begin repositioning their portfolios for the upcoming year. This morning SmartMoney Magazine took a look at where to invest during the next 12 months. On “Squawk Box,” CNBC’s Carl Quintanilla spoke with SmartMoney Senior Writer, Russell Pearlman about the magazine’s newly released investment picks.