Highlighted by a 5-week low in crude oil today, the weakness in the commodity complex and the subsequent mid to high single digit declines in commodity stocks this afternoon have been in-focus all day. After a significant rally from March to June, commodity stocks continue to add to their recent sell-off with today’s declines. » Read more
The Dow Industrials broke a 3-month winning streak, with a monthly loss of 0.63% in June. The 3-month winning streak was the longest for the Dow since Aug.-Oct. 2007. However, the other indices continued on to a four-month rally. » Read more
Markets are selling off in midmorning trading after being hit with disappointing economic data. The S&P/Case Shiller index indicated U.S. home prices continue to tumble in April....and retreating consumer confidence is also weighing on the markets. » Read more
Stocks briefly lost a little bit of steam as Fitch downgraded the state of California's long-term general obligation bond rating to "A-" from "A" and placed the bonds on Rating Watch negative "based on the magnitude of the state's financial and institutional challenges and persistent economic and revenue weakening." » Read more
Stocks have been quietly moving to the upside all morning...the general take is that despite vigorous questioning Mr. Bernanke is holding up well in his principal claim: that he did not threaten action against Bank of America CEO Ken Lewis or the bank's board if they abandoned the Merrill takeover, and more importantly insisted that his actions helped avert a global economic meltdown. » Read more
Direct from the floor of the NYSE, Trader Talk with Bob Pisani provides a dynamic look at the reasons for the day’s actions on Wall Street. If you want to go beyond the latest numbers— Bob will tell you why the market does what it does and what it means for the next day’s trading.
BIO
A CNBC reporter since 1990, Bob Pisani has reported on Wall Street and the stock market from the floor of the New York Stock Exchange for nearly a decade. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before moving to the New York Stock Exchange in 1997. Read his full bio here.