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
Dividends are sacrosanct in the world of integrated oil and gas, but Goldman Sachs' global head of commodities research said Tuesday prices may stay low enough for long enough to force big oil to cut the payouts.
Goldman's Jeff Currie made his comments shortly after Standard and Poor's downgraded ExxonMobil's credit rating from the coveted AAA to AA+, citing continued oil price weakness.
Crude prices have bounced off multi-year lows struck earlier this year, but remain roughly 60 percent below their 2014 peak.
"A lot of these dividends were put in place when oil prices were $110, $120 a barrel," Currie told CNBC's "Fast Money: Halftime Report."
"Obviously if we stay in a $50-to-$60-type price environment most of these companies have embedded in their outlooks, it's going to be very difficult to actually make those types of dividend payments that were structured in the previous era."
Goldman sees oil prices ending the year at $45. Currie says the bank's view would suggest Exxon and its peers are in a position in which they must cut dividends.
Last week, Goldman said it had shifted its near-term energy weighting from underweight to neutral, though Currie warned on Tuesday the change in fundamentals is only transitory at this point.
He said seasonal risks that could lead to a storage crisis have passed until October, and near-term fundamentals have moved global supply and demand toward balance.
"You look at the inventories, globally, they're balanced right now, but we don't think it's sustainable until the third quarter and beyond," he said.
Other analysts believe the majors have brought down costs enough to fund dividends.
In an earnings preview, Cowen and Co. said "operational efficiencies, cost reduction, and asset sales should allow [integrated oil companies] to sustain dividends and bridge the funding gap through 2017."
ConocoPhillips slashed its dividend by two-thirds earlier this year. Chevron and Exxon have maintained their dividends of 4.2 percent and 3.3 percent, respectively, but both have suspended stock buybacks.
BP, which reported better-than-expected earnings on Tuesday, has said it would take on more debt to fund its 7.3-percent dividend, but warned it would be forced to reassess its financial framework in the event oil prices remain low, Cowen noted.
Tighter margins in BP's downstream refining business, combined with weakness in its upstream gas exploration segment, could make its dividend unsustainable, RBC Capital Markets said in a note.