Stocks ended higher Thursday as crude prices climbed after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt.
Peter Kenny, managing director at Knight Equities and Paul Hickey, co-founder of Bespoke Investment Group weighed in on the best places to invest now.
Stocks rebounded on Thursday as crude prices climbed. The market had gotten off to a wobbly start, as investors juggled a bleak report on new-home sales with the unexpected drop in jobless claims and GM's deal with bondholders. Here's what the experts had to say...
It's never a wise thing to predict a smooth bankruptcy. Especially when you you are dealing with a company as large, as complex, and as loaded down with debt as General Motors.
Stocks rebounded Thursday as crude prices climbed after inventories were pared more than expected. Stocks had gotten off to a wobbly start as investors juggled a bleak report on new-home sales with any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
A sharp jump in 10-year Treasury yields scared stock-market watchers, even as the auction of new 5-year notes was well received. And mortgage rates, especially the 30-year fixed rate, ticked higher. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his market insights.
Stocks retreated Thursday, after a higher open, as bleak report on new-home sales overshadowed any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
The Dow and S&P 500 fell on Wednesday as rising yields on U.S. government Treasuries sparked worries about increased borrowing costs.
Remember the first time you went into a dealership to buy a new car because you truly felt you could afford a new car loan? Remember the sticker shock when you ran the numbers and said to yourself, "I didn't really think it would that much." Now you know how many people feel when they see it might take $50 Billion to fix GM.
This is the day current and retired UAW members at General Motors have been fearing. In stark terms union members are finding out just how much their benefits, their jobs, and what they've come to expect will be changing as GM restructures either in or out of bankruptcy.
Volkswagen says it has signed a "memorandum of understanding" with Chinese carmaker BYD to explore "options for partnership in the area of hybrids and electric vehicles powered by lithium batteries." Warren Buffett's Berkshire Hathaway bought a 10 percent stake in BYD last fall, and Buffett has been personally promoting the company's efforts.
This week GM and Chrysler will transform the auto industry by skidding into and through bankruptcy. If they can avoid a major car wreck, perhaps Uncle Sam's "controlled bankruptcy" plan will work.
Four months into President Obama's administration and three months after he created the Auto Task Force to find a solution for an imploding auto industry, people are mad at the President.
Within two weeks expect to see GM in bankruptcy. And when the company files, whether it's late next week or Monday June 1st, the road map for a quick creation of a newer, leaner GM will be laid out for the Federal Government to follow. It's the Chrysler bankruptcy which has gone about as smoothly as the auto task force was hoping.
How do you define "free market". Yesterday, I argued the "free market" should determine if cars and trucks are powered by diesel fuel or by the conventional gasoline most vehicles currently use. This baffled some of you.
A daunting litany of ills imperils U.S. banks, from toxic assets to rising loan defaults. After the irritating spectacle that played out in Washington yesterday, we can add a new threat: the Congressional Oversight Panel tracking TARP.
Over the last two days, as I've blogged about new fuel efficiency rules President Obama laid out at the White House, I've been struck by the opposition to these changes.
Stocks ended a rocky session mixed as a banks rally fizzled and an unexpected drop in housing starts left investors a little shaky. Still, a gauge of fear dropped below a key level.
After a morning dip dampened Monday's gains, stocks bounced back Tuesday. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights and outlook for the stock market.
With the new mandate from Washington, this efficiency movement in the auto industry will pick up momentum, and several companies are positioned to profit.