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Stocks bounced back from an early slide as banks recovered and strength permeated techs, housing and retail stocks. The market had opened lower as oil neared $140 a barrel and after a report from the New York Federal Reserve on regional manufacturing activity showed a worse-than-expected contraction. Lehman shares rose after the firm reported a loss on target with its pre-announcement.
What's bubbling in the options market? General Electric and financials, according to one tracker.
General Electric shares fell for a fourth straight day Monday after J.P. Morgan cut its rating on them to "neutral" from "overweight."
Some highlights from the report: --"Despite a valuation that now discounts bad news and an attractive story for the patient, long-term buyer, we can no longer recommend GE as we see further earnings risk and dislocation from necessary portfolio management in 2009."
Stocks opened lower on Wall Street Monday as oil neared $140 a barrel and after a report from the New York Federal Reserve on regional manufacturing activity showed a worse-than-expected contraction. Lehman shares rose after the firm reported a loss on target with its pre-announcement.
S&P futures dropped about 5 points as the New York Empire State Index was notably weaker than expected and has been down 4 of the last 5 months, then dropped again on oil. The most important issues this week:
Options were active in GE and Goldman Sachs last week, according to one observer.
Markets in the last hour: A strong dollar and lower oil helped stocks today, enough to eke out a small gain of 0.8 percent for the Dow for the week (the only major index that was up this week
Today, the dollar index traded at its highest levels since February, certainly above its recent range, and it did not drop commodities. Maybe a sustained rally will, but this theory has got some holes short-term.
Solar energy is playing a bigger role in General Electric’s energy portfolio, and GE Energy has announced it is taking a majority stake in PrimeStar Solar.
Fed Chairman Ben Bernanke has started to jaw-bone his way to this goal. Since oil is universally priced in dollars, a stronger dollar would bring about lower oil.
A big surprise considering the economic downturn and the challenges and new competition network TV faces. The broadcast networks are bringing in about $9.2 billion for their primetime lineups, up slightly from last year, while analysts expected total sales to be flat to down.
For the first time in a long time, it looked as if oil was going to stay out of the market headlines. No such luck.
Today Discovery's launches its Planet Green eco-tainment cable channel, and the number of eco-friendly products on the market makes it clear that Green is H-O-T. National Geographic launched "Green Guide," its first service magazine.
To give investors an edge, CNBC asked the market pros for their best investment advice now.
Jim Awad thinks an investor should build a stock portfolio with BRICs -- Brazil, Russia, India, and China -- but it's not necessary to leave home to get into that market.
The movie studio and its adjacent theme park owned by CNBC's parent, NBC Universal suffered a terrible fire Sunday morning, closing the theme park on a crowded Sunday, and for much of the day shutting down Citywalk, which is where I'm writing from right now (CNBC's LA bureau sits perched above the open-air mall area).
Stocks closed lower Monday, snapping last week's rally, amid a fresh wave of financial worries and inflation concerns. General Motors rose.
Though the Weather Channel's owner, Landmark Communications, was originally looking for $5 billion for the asset, which includes mobile and online, now the bids are coming in at some $3.5 billion in stock and debt. Bankers telling me that the number has come down with the turmoil in the credit markets.
Stocks declined amid concerns about inflation following a manufacturing report and a fresh wave of concerns in the financial sector.