Chrysler is unveiling its largest and most technologically advanced factory in Sterling Heights, Michigan, just North of Detroit, reports CNBC's Phil LeBeau.» Read More
Leon Cooperman, founder of Omega Advisors and former Chair of Goldman Sachs Investment Policy Committee, said he expects stocks to do well the rest of this year and into next year.
Rep. Sander Levin told CNBC’s “Power Lunch” that his new tax bill seeks to create fairness and is not aimed at private equity companies.
Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors, told CNBC’s “Power Lunch” that the market may face a short-term valuation problem. ... But Craig Hodges, portfolio manager at the Hodges Fund, remained optimistic despite the risks.
The recent increase in gasoline prices may be partly due to a potential strike in Nigeria, but Iran remains a factor, said Addison Armstrong of TFS Energy on "Power Lunch.""Nigeria certainly is front and center, but Iran is never far from oil traders' minds," Armstrong said. Since 40% of the world's oil flows through the waters near Iran, the country remains key to world oil prices.
Art Hogan, managing director at Jefferies, told CNBC’s “Power Lunch” that the slumping housing market has shaved about 1% off GDP growth and this may be good news for interest rates.
Initial public offerings may be hurt by higher interest rates, but one analyst said the IPO market is still robust."We've had nearly 100 IPOs priced raising over $20 billion in the U.S. marketplace," Richard Peterson, Thomson Financial Senior Research Analyst, said on "Morning Call."
John Person, president of National Futures.com, told CNBC’s “Power Lunch” that drought could drive grain prices to record highs this summer.
About 250 companies are paying millions of dollars to do business out at the U.S. Open, CNBC's Darren Rovell reports. Largest spenders are shelling out $200,000 for their hospitality tent. Meals are costing roughly $130 per person and some companies even spend an extra $95,000 to make their tent look more attractive.
Harvey Pitt, former SEC chairman and founder and chief executive officer of Kalorama Partners, told CNBC’s “Power Lunch” that a new tax aimed at private equity firms like Blackstone Group will hurt pension funds and the investing public.
Volatility in the auto parts and services sector is likely to persist with the Detroit labor negotiations between GM, Ford, and Chrysler months away, one analyst said."I think there's really disproportionate risks that the stocks could see some softness in the next few months rather than go higher," Richard Kwas, Wachovia Securities Senior Auto Analyst, said on "Power Lunch."
Risk has not dampened demand for deals, says Steven Costabile, managing director at AIG Global Investment Group. He and Tim Backshall, chief credit derivatives strategist at Credit Derivatives Research, told "Power Lunch" viewers to expect more mergers and acquisitions in the foreseeable future.
Taking punitive action against China's currency policy may happen in "stages." Four senators introduced legislation to move China toward a market-determined exchange rate in a gradual, four-phase program. ... This is a step in the right direction, because "we want to continue to have dialogue with China," U.S. Chamber of Commerce Vice President for East Asia Myron Brilliant told "Power Lunch" viewers.
Lehman Brothers surprised Wall Street with record profits, beating estimates by 33 cents per share. As the largest brokerage firms gear up to report their quarterly financial results, is Lehman’s act too tough to follow? Jeffery Harte, managing director of equity research at Sandler O’Neill, joined CNBC’s Sue Herera on “Power Lunch” with an earnings outlook.
Sandy Weill, former Citigroup chairman, told CNBC that philanthropy isn’t just about money.In an interview with CNBC's Mary Thompson, Weill said giving is about your talent and passion. He urged others to start giving when they’re young and before they have money. He said it’s important to give of your intelligence, energy and passion.
Foreclosures in May were up 90% over the year-ago period. The Federal Reserve will meet Thursday to discuss taking action against alleged mortgage lending abuses. Should it? Robert McTeer, former president of the Federal Reserve Bank of Dallas, and John Taylor, president and CEO of the National Community Reinvestment Coalition, took sides in a "Power Lunch" debate.
Foreclosures were up 19% in May from April and up almost 90% from May 2006, though First Trust Advisors Chief Economist Brian Wesbury thinks foreclosures won't have much of an effect on the housing market. He said the peak in the housing market already occurred in the fourth quarter of last year, as there was a 1.2% subtraction from gross domestic product.
A showdown is looming between the White House and Congress as the Senate prepares to introduce a bill that attempts to force China to loosen the reigns on its currency. Supporters of the legislation like Lloyd Wood from the American Manufacturing Trade Action Coalition say it’s about time for a crackdown, while critics like Daniel Ikenson from the CATO Center for Trade Policy Studies say legislation like this will only lead to an economic and diplomatic rift between the two world superpowers. The two analysts discussed their insights on “Power Lunch.”
President George W. Bush made a rare visit to Capitol Hill to drum up support for the beleaguered immigration bill. Observers wonder if the bill still has a chance to pass -- and who, if anyone, actually wants it. On "Power Lunch," CNBC's Bill Griffeth hosted a triumvirate of veteran political watchers weighing in on the issue: Jay Carney, Time Magazine's Washington bureau chief; Michael Abramowitz, Washington Post White House correspondent, and John Harwood, CNBC's chief Washington correspondent.
Congress is considering a proposal that would boost the FDA's enforcement power after drugs have been approved for market. Would such a measure better protect consumers or stifle the production of new and better medicines? Bill Vaughan Consumers Union Senior Policy Analyst and Sam Kazman, Competitive Enterprise Institute General Counsel, took sides on the question in a "Power Lunch" debate.
Harry Clark, founder, president and CEO of Clark Capital Management Group, told CNBC’s “Power Lunch” that last week’s sell-off was healthy for the market.
Tyler Mathisen is a co-anchor on "Power Lunch" and is also the vice president for Strategic Editorial Initiatives at CNBC. He also co-anchors "Nightly Business Report produced by CNBC."
Sue Herera is a founding member of CNBC, helping to launch the network in 1989. She is co-anchor of "Power Lunch."
Did the Fed just hint at tapering in December? Kenny Polcari parses the Fed speak — and parses some pasta scraps for a good recipe!
In this issue of "What's cookin' with Kenny Polcari," Kenny whips up a few Fed tidbits and something to dazzle your Thanksgiving guests.
Pro trader Kenny Polcari shares his thoughts on where the market is headed, as well as his recipe of the day.