Stocks made another break higher Friday as investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
Stocks wobbled Friday as investors were encouraged by a jump in consumer sentiment less-bad GDP report but still remained a bit jittery. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
Stock index futures indicated a higher open for Wall Street Friday after the latest GDP report showed the economic decline began to slow in the first quarter.
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.
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.
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.
Futures held onto gains Thursday after an unexpected drop in initial jobless claims. However, the gains were muted as Dow component P&G slashed its outlook.
The oil market has stopped taking its cues from stocks and the dollar for the moment to focus on what's being said in Vienna ahead of Thursday's OPEC meeting.
Investment is not economically plausible below $70 a barrel, OPEC’s Secretary General Abdalla El-Badri told CNBC Tuesday, ahead of Thursday's OPEC quarterly meeting in Vienna.
Tuesday, 26 May 2009 | Source: The Associated Press
OPEC is unlikely to cut output at its upcoming meeting, Saudi Arabia's oil minister said in comments published Tuesday, as indications mounted that the oil producing bloc would resist a temptation to tighten the taps despite wanting higher crude prices.
Posted By:Stephen Schork, Editor, The Schork ReportCNBC Guest Blog
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Posted By:Stephen Schork, Editor, The Schork ReportCNBC Guest Blog
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