Lee Brodie is Digital Producer for Mad Money with Jim Cramer. Past credits include "Trading Spaces" and "Entertainment Tonight." He has also produced shows for History, MSNBC, NBC Productions, PBS and more. He received a 2007 Daytime Emmy award for the A&E documentary "A Question of Life or Meth." Brodie also received an Emmy award for his coverage of the New York theater scene in "Live from Broadway with Pat Collins." His first job in media was also with NBC, as a page.
When the price of natural gas plummeted last Summer, hedge fund Amaranth took a nose dive. Now some investors are worried the same could happen with hedge funds that invested heavily in oil. "In the short term, market sentiment is overwhelmingly bearish and it's possible for (the) price to go lower than $50 (a barrel),” said Victor Shum, an analyst with Purvin & Gertz.
This afternoon--Congress is mulling over how to proceed, after Fed Chairman Ben Bernanke warned that the U.S. economy could be gravely hurt if Social Security and Medicare aren’t revamped. In his testimony before the Senate Budget Committee, Bernanke also said that economic growth alone is unlikely to solve the nation's impending fiscal problems.
Oil seems to be the story of the day--or week. The price appears to be bouncing a little bit, after dropping to a 20-month low earlier, at $50.28 a barrel. (We haven’t seen that level since May 25, 2005.) Many investors now wonder if it will fall below the psychologically important $50 per barrel mark. Where’s the fast money in this volatile environment? We asked "Fast Money’s" Jeff Macke who is also a retail analyst.
Shares of Advanced Micro Devices dropped 11% today after the company said lower prices would hurt its profit outlook. Subsequent downgrades from the major brokerages propelled AMD into becoming one of the most actively traded stocks at the NYSE today. But there's more behind this precipitous drop than weak numbers. What's really going on?
Private equity is once again looking to make a deal in India. Today, it's for a 33% stake in Hutchison Essar. (“Hatch” as it’s called was one of the first cell phone companies in Mumbai.) This deal is just the latest in the money scramble to get in, on one of the world's fastest growing economies. On today’s “Power Lunch” we asked just how hot are the private equity opportunities in India?
Even though the lights are packed away and the tree has been stripped bare, Santa brought one last gift to investors today. New data shows holiday shopping was more robust than Wall Street had expected. The U.S. Commerce Department reported retail sales rose 0.9% in December, that’s the strongest increase in 5 months.
For the third consecutive day--investors are talking about Apple’s iPhone. This time the buzz is about a lawsuit. California based Cisco Systems is suing Steve Jobs and company for trademark infringement, claiming they’ve owned the name iPhone since 2000. Who knew Cisco had an iPhone? CNBC’s Jim Goldman did, he first reported it weeks ago, and on today's “Squawk on the Street” he revealed more about the potential fist fight brewing in the Bay area.
Once again, the U.S. Supreme Court is facing a controversial case involving eminent domain and when it can be invoked. This is the second time this issue has landed before the high court in 2 years. How much license should the government have to take your property? On “Power Lunch” Sue Herera asked if this was another case of government gone wild.
The race for the White House is heating up.Today--Democratic Senator Christopher Dodd of Connecticut threw his hat in the ring (he announced on MSNBC's Don Imus Show). That follows formal announcements from former North Carolina Sen. John Edwards, Ohio Rep. Dennis Kucinich and Delaware Sen. Joe Biden, among others. Why so many and so early?
Today, additional U.S. troops are heading to Iraq as a part of the President’s plan to increase armed forces on the ground. A large percentage of the 21,500 additional service men and women will be stationed in Baghdad to help fight insurgents. Asked how long that buildup might last, Defense Secretary Robert Gates said...
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