Mideast tensions are growing. Technical levels are being breached. And there’s a long weekend ahead. All reasons for traders to cover short positions on oversold oil futures and take profits on positions that have skyrocketed over the past few weeks.
Troops and tanks locked down the capital of this tiny Gulf kingdom after riot police swinging clubs and firing tear gas smashed into demonstrators, many of them sleeping, in a pre-dawn assault Thursday that uprooted their protest camp demanding political change. Medical officials said four people were killed.
The unrest spreading across the Middle East is making investors nervous, and they're heading for the closest safe-haven currency: the Swiss franc. The dollar, meanwhile, is getting left in the cold.
Trucks carrying smashed tents, trash and other refuse rolled out of the Pearl Roundabout in Bahrain midday Thursday, remnants of a demonstration that turned deadly overnight.
The spread of protests to strategically vital countries such as Bahrain has put the US on the back foot after years when Washington appeared to overestimate the impact of local leaders’ reform efforts. The FT reports.
Epitaphs for the Mubarak government all note that the mobilizing power of the Internet was one of the Egyptian opposition’s most potent weapons. But quickly lost in the swirl of revolution was the government’s ferocious counterattack, a dark achievement that many had thought impossible in the age of global connectedness. The New York Times reports.
Wael Ghonim has officially “taken a leave” from his position at Google according to Google spokesperson, Jennifer Bloch.
With Facebook playing a starring role in the revolts that toppled governments in Tunisia and Egypt, you might think the company’s top executives would use this historic moment to highlight its role as the platform for democratic change. Instead, they really do not want to talk about it. The New York Times reports.
With the resignation of Hosni Mubarak in Egypt, we now enter the dangerous “Thermidor” phase of the historic socio-political revolution begun in North Africa and Egypt, a revolt that is energizing citizens – especially young citizens – in other autocratic nations as well.
Egypt's army calling for national solidarity and urging workers to play their role in reviving the economy, with CNBC's Yousef Gamal El-Din.
Egypt's military rulers called for an end to strikes and protests Monday as thousands of state employees, from ambulance drivers to police and transport workers, demonstrated to demand better pay in a growing wave of labor unrest unleashed by the democracy uprising that ousted Hosni Mubarak's regime.
A two-year collaboration of dissidents gave birth to a new force — a pan-Arab youth movement dedicated to spreading democracy in a region without it, the New York Times reports.
A furious wave of protest finally swept Egypt's President Hosni Mubarak from power on Friday after 30 years of one-man rule, sparking jubilation on the streets and sending a warning to autocrats across the Arab world and beyond.
The resignation of Egyptian President Hosni Mubarak Friday came after a tense standoff with the nation's top military officials incensed by his refusal to step down as expected Thursday evening, sources told NBC News.
Stocks hit session highs and the dollar fell off its highs after Egypt’s Vice-President announced that President Mubarak “waives right to Presidency” and is stepping down. Markets in the U.S. and Europe broadly turned positive, after being mixed to negative for most of the day.
Markets had a muted reaction to reports that Egyptian President Hosni Mubarak would step down, as the future path for Egypt is still uncertain.
With global oil prices diverging wildly, CNBC's Sharon Epperson talks about how traders can profit from the growing disparity between Brent crude futures and U.S. oil prices with Joe Raia, CME managing director for energy and metals products.
Fed Chairman Ben Bernanke appears before the House Budget Committee Wednesday, in what promises to be one of the two most widely watched events of the trading day.
Rachid called it “paralysis in the country” for the short-term. Rachid expects the crisis to have “impact on growth numbers, production. And the faster we can go back to normality, the faster we can recover from that situation,” said Rachid. For the long-term, Rachid believes “this is going to be quite challenging.”
Rising interest rates and commodities prices could easily turn from tail winds to head winds for stocks.