U.S. stocks closed higher as oil hit highs for the year and investors continued to digest financial earnings and economic reports.» Read More
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Many investors were expecting third-quarter earnings to be bad. And so far they haven't been disappointed.
Market is dealing with several problems today: 1) Boeing down more than 3% after it delayed deliveries of its 787 Dreamliner for six months, due to problems assembling the plane. Though they say it won't materially hurt 20087 or 2008 earnings, it is still a surprise.
Oil refiner Valero Energy expects sharply lower quarterly profit due to a drop in refining, throughput and product margins, the company said on Wednesday.
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Oil eased from its record high on Friday as a hurricane subsided in the Gulf of Mexico and as fresh evidence of credit troubles in the banking sector hit financial markets.
Crude oil settled at $80.09 in New York trading, the first time it ever closed above $80 (in nominal dollars).
Energy stocks are still a solid investment for the long haul, say market strategists, though rampant speculation and big price swings could make it a bumpy ride for investors.
The stock market appeared to return to normal this past week, but many analysts believe continued credit worries will drive prices lower in the near term. Still, long-term investors should be on the lookout for bargains.
The record earnings bonanza U.S. refiners enjoyed in the first half of 2007 may be winding down as weaker margins hit profits this quarter and next.
Before the recent downturn in the U.S. stock market, portfolio strategists and market prognosticators said the resiliency of the markets was a key sign of positive times ahead.
Energy companies in the Gulf of Mexico stepped up evacuations of workers Friday ahead of the first Atlantic hurricane of 2007, even as most revised forecasts showed the storm missing oil and gas installations.
Shell Oil was pulling nonessential workers from the western U.S. Gulf of Mexico on Tuesday as the company prepared to shut in 5 million cubic feet of natural gas production off the south Texas coast, the company said.
Market pros will be looking closely at the tech sector in the upcoming earnings season, but for investors seeking a quick pop, they need look no further than the energy sector as oil prices remain at record levels.
John Kilduff, senior vice president and energy analyst at Man Financial, appeared on CNBC's special "Power Lunch at the Four Seasons" to give his outlook for oil and gasoline -- and to explain why easing tensions in Nigeria haven't made him bearish on either.
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Oil prices slumped as much as 4% after the threat of further disruptions to Nigerian supplies receded and gasoline futures sold off as U.S. refineries returned to production.
Oil prices fell in light trade Monday, eased by the end of a Nigerian oil workers' strike over the weekend.
Prices for crude oil and gasoline rose on supply concerns ahead of the Memorial Day weekend, the kickoff to the summer driving season. Strikes and violence in Nigeria also propped up the oil market.
Gasoline prices climbed and crude prices fell after another round of outages at U.S. refineries stoked supply concerns ahead of Memorial Day weekend, the unofficial start of the summer driving season.