OPEC ministers went ahead with a decision to reduce oil output, as they set out to defend the $100 price level for crude oil. ... The majority of members prevailed upon a reluctant Saudi Arabia to go along with the reduction. It is not surprising to see Saudi Arabia go along...
Stocks skidded Tuesday as worries about the housing and financial sectors came back with a vengeance. Lehman plunged 45 percent, dragging the S&P to its worst percentage decline since early 2007.
The Dow got a little bump at the opening bell but fell off the cliff into a triple-digit decline after pending-home sales dropped more than expected. Adding to the uncertainty in the market, Lehman Brothers fell to its lowest level in a decade amid market buzz that the brokerage is going to be unable to raise the capital it needs.
In the last 7 trading sessions, commodity stocks have been in a free-fall. Look at what has happened to these big names, most of which hit historic highs in June or July:
Oil at $300?! Charles Maxwell, Weeden & Co. senior energy analyst, told CNBC about the market forces that could push oil prices way, way above recent highs.
The Clean Energy Fuels CEO explains why a ballot initiative state will be a big boon to his company.
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 hasn't even made landfall, and it's already hitting consumers in the pocket book. Gasoline could jump 10 to 15 cents a gallon at the pump over the Labor Day weekend for some drivers, according to Tom Kloza, chief analyst at the Oil Price Information Service.
Following are the day’s biggest winners and losers. Find out why shares of Nucor and Borders popped while Mattel and Amylin dropped.
Stocks finished higher in feather-light trading Wednesday, boosted by a rise in financials and energy stocks, as well as a better-than-expected durable-goods report.
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.
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The recent correction in gold and oil prices might not be completely over. Stefan Risse, chief market strategist at CMC Markets, told CNBC why he thinks investors should be wary.
Banks stocks dragged down the broader stock market on Wednesday with Merrill analyst Richard Bernstein writing the credit crisis is “far from over.”
One way to pick stocks is to watch short interest for clues. Paul Hickey, Bespoke Investment Group co-founder, told CNBC the buys he's making based on his short-watching method.
Coming back from a 90 point loss after a much worse than expected loss from Freddie Mac, the Dow rebounded as U.S. stocks hit a six-week high. The trend of health & personal care stocks doing well in this market continues.
Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast on Monday.
Jonathan Barratt, managing director of Commodity Broking Services, sees more upside to oil prices. He told CNBC that he believes oil prices could return to the $130- to $135-per-barrel level.
The Dow and S&P 500 climbed higher on Wednesday after an unexpectedly strong report on the job market offset a surge in oil prices.
Oil rose more than $4 a barrel on Wednesday after U.S. government data showed an unexpected drop in gasoline stocks...