"Last week was a magical week for us," Freeport McMoRan CEO Richard Adkerson said on "Squawk Box." The New Orleans mining giant closed on its acquisition of Phoenix-base Phelps Dodge for $26 billion, then boosted a planned stock offering to help cut some of the $17.5 billion debt it took on for the deal.
When the price of gasoline is going up but oil is falling, it’s time to trade the "RBOB Gasoline Crack," according to Eric Bolling, of CNBC’s "Fast Money." ... And following Tuesday’s $2 drop in the price of crude, the Crack is getting wider and wider.
Technology is reinventing established oil fields and drastically increasing the amount of oil thought to be accessible in the world, according to a report from The New York Times. “It looks like the peak oil theory peaked with $78 oil, last August,” said Daniel Yergin, Associates Chairman at Cambridge Energy Research, to “Squawk Box.”
With so many investors expecting the current downturn in stocks to be short-lived, returning to U.S equity markets before the volatility has reduced could be the best strategy. Robert Weissenstein, chief investment officer for Private Banking Americas at Credit Suisse, certainly thinks there are opportunities to be had -- and the time is now.
The recent selloff in global equities has left investors tentative about getting back into the market-- but Tom Ognar, Wells Fargo Advantage Growth Fund Manager, thinks that two key opportunities have been created amidst the volatility.
There’s no doubt that this week’s global selloff has got investors spooked, but what is definitely open for debate is whether the downturn will grow in to a full-blown recession -- or just mark a healthy and much needed correction. The debate raged, on "Squawk Box."
Dow component Home Depot announced Wednesday that it expects only small growth in sales this year, with earnings per share falling. But investors shouldn’t be too concerned about this year’s numbers, David Schick, retail analyst at Stifel Nicolaus, told “Squawk Box.”
It seems only a matter of time before Toyota Motor takes the title as the world's top automaker, by any measure. The Japanese automaker is even entering a car in the Daytona 500 this year.