Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."Technologyread more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Apple is considering moving some production from China as it is expected release of its new iPhone line this fall, The Wall Street Journal reported.Technologyread more
Workplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a "direct listing"--is slightly different than an IPO.Trader Talk with Bob Pisaniread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The Philadelphia Federal Reserve's manufacturing gauge tumbled this month, solidifying the Fed's case for easier monetary policy.Economyread more
Declining traffic to Olive Garden, Darden's top restaurant chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter.Restaurantsread more
Energy entrepreneur Boone Pickens said Thursday he sees $70-a-barrel oil by year's end, and between $80 and $90 within 12 to 18 months.
In an interview on CNBC "Squawk Box, " Pickens said U.S. producers are in the process of rebalancing the market—pointing to the decline rig count in response to the continued collapse in crude prices.
But Pickens did dial down his longer-range forecast from December, when he predicted on "Squawk Box" $90 to $100 barrel in 12 to 18 months.
, oilfield services company Baker Hughes said rigs seeking oil fell to 866. The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
Pickens said U.S. producers in recent years ramped up too much, and overshot demand, which has led to the current price slide of about 50 percent since June.
Oil prices turned sharply lower again Thursday—dipping under $43 a barrel on U.S. crude—after Kuwait said OPEC had no choice but to keep production steady, refocusing the market on global oversupply.
Oil had surged Wednesday, after the dovish Fed comments.
Pickens also predicted $6 natural gas within five years. Nat gas was lower early Thursday, trading around $2.84.
Updating progress on the Pickens Plan—calling for trucks to run on nat gas—he said: "It's happening. But man, it's happening slow."
"The thing you can count on in natural gas, the price isn't going to run up on you, like it does on oil," said Pickens, who's been arguing for years that a switch to nat gas trucks could vastly reduce the nation's oil dependency.
With more than a half century in the oil and gas business, Pickens spent most of his career building Mesa Petroleum into a powerhouse. After selling Mesa in 1996, he founded BP Capital Management, an investment firm focusing on the energy industry.