Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
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.
Negativity about the stock market is rampant, and to BlackRock Vice Chairman Bob Doll, that is a healthy sign. Doll is BlackRock's chief investment officer for global equities, and he visits plenty of financial advisers. "The mood is very thick," he said. "To the contrarian, it feels good."
They are both viewed as positives for generics because they endorse getting their drugs to market faster and also would favor including them as part of trade agreements in developing countries.
It's hard to see Friday's markets as anything but volatile after this past week's wild swings. But if there are no out of the ordinary events, traders say the stock market just might quiet down late in the session as investors head off for one of the final weekends of the summer.
Stocks will be on inflation watch Thursday. Volatile trading in oil and commodities promises to spill into the stock market again. On Wednesday, energy and other commodities rose, reversing a selling trend and worrying investors, who have been hoping for a reprieve from inflation.
Birinyi Associates points out today that Wall Street's strategists have become even more bullish this month than they were at the start of the year. In fact, they are forecasting a 16 percent gain in the S&P 500 between now and the end of the year, compared to a 12 percent gain at the start of the year.
Names on the move ahead of the open.
No, Alibaba doesn't actually cure cancer; however, some traders say it's lifting stocks ahead of its IPO tomorrow.
The Fed may have triggered an early look at its dream trade: short-term yields rise gradually and longer-term rates rise more slowly.
Alibaba's expected valuation is about $175 billion. Here's how that compares to other tech giants like Amazon, Facebook and Apple.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.