×

Politics Barack Obama

  • Tony Hayward and Warren Buffett

    Warren Buffett says Tony Hayward should not continue as BP's CEO, so that the American people can "feel better" about the company's response to its massive oil spill in the Gulf of Mexico.  In a videtaped interview with Willow Bay for the Huffington Post and Yahoo News, Buffett says it is not in the interest of either BP or the nation for Hayward to keep his job.

  • June retail sales report: better than most expected, but not a game changer. Numbers were good for the most part, but not enough to change anyone's opinion. The back half remains murky due to the macro data, which right now does not support a robust recovery.

  • Timothy Geithner

    Taxes on US businesses are about average compared to those in the rest of the world, Treasury Secretary Tim Geithner told CNBC Wednesday.

  • Family Dollar's conservative guidance: is this what Q3 guidance will look like? All the discount retailers are flat to down today as Family Dollar (FDO) provided guidance for the current quarter (Q4) that is below Street consensus ($0.46 to $0.51 vs. Street estimates of $0.53). The conference call, mostly with CFO Ken Smith, was very instructive...

  • The CEO, Jim McNerney, stressed this needs to be "measurable" quarter-by-quarter and industry and company specific. As far as an up cycle in the market, he said, "that will take a little longer."

  • Bill Fleckenstein of Fleckenstein Capital thinks tech names will soon pick-up, so how's he playing it?

  • The government should extend the Bush tax cuts to put money to work and help share prices, Dennis Gartman, founder of The Gartman Letter, told CNBC Wednesday.

  • capitol_building_wallst_mainst.jpg

    This whole debate about government stimulus versus austerity, and the impact of these policies on economic growth, misses a key point: It is business, not government, that creates jobs.

  • While everyone is watching the IPO of Agricultural Bank of China tonight, another fairly large IPO is set to price in the US this week...at the midpoint it'd bring in about $600 million. That would be the the biggest US IPO of the year.

  • President Obama signs the health care reform bill into law at the White House

    The first stage of President Barack Obama's health care overhaul is expected to provide coverage to about 1 million uninsured Americans by next year. That's a small share of the uninsured, but in a shaky economy, experts say it's notable.

  • Banks and commodity stocks are rallying this morning in Europe and the U.S.; most bourses are up 2 to 3 percent. Shanghai was up 1.9 percent after hitting 52-week lows Monday. Helping commodities and commodity stocks: a weaker dollar, and positive comments about the global economy.

  • capitol_building_wallst_mainst.jpg

    Republican Congressman and House Ways and Means Committee member Paul Ryan spoke with Maria Bartiromo yesterday about the current economic crisis, and spoke frankly about how he feels Washington is running the country.

  • Markets are a bit weaker as Europe has closed essentially at the lows of the day, despite a second day of rally in the euro. There is lots of talk that the poor economic data in the US in the last two weeks now makes Europe a more attractive investment opportunity...

  • capitol_building_2_200.jpg

    Even as most Americans got ready to face the July 4th holiday weekend traffic, members of the United States Congress had already left town.

  • June nonfarm payrolls posted a decline of 125,000 jobs, slightly higher than expected, with an unemployment rate of 9.5 percent. Private sector job growth up 83,000 was a bit below expectations. The stock market anticipated weaker numbers and trading all week reflected that sentiment. The market is trading at notably lower levels than two weeks ago.

  • Confused yet? Two events are occuring today: 1. the short euro/long gold trade appears to be unwinding. It's not a coincidence it's happening on the first day of the quarter. 2. the midday collapse of the VIX.

  • capitol_building_wallst_mainst.jpg

    Don’t you just love political cross dressing? Last night on CNBC my old boss David Stockman was totally root-canalled as he called for higher taxes and lower spending. Right on spending, but wrong on taxes.

  • capitol_building_wallst_mainst.jpg

    At least I'm hoping there is no double dip. Data on capital investment and personal income has been encouraging but I think we are in a bearish frame of mind so that gets somewhat ignored. The negative gets emphasized when your mind set is that way.

  • world_economy_down2.jpg

    The U.S. economy has had two crises that were followed by long periods of depressed economic activity, high unemployment, and instability lasting more than a decade...Conditions are emerging that could cause that to happen again, and without a radical change in policy, the nation is at risk of a terrible calamity.

  • Futures dropped, then recovered a bit, as initial and continuing claims were higher than expected. Start of a new quarter, and first trading day of the month. It is one of the oddities of trading that the Dow Industrials have their biggest point gains on the first day of the month, on average (Trader's Almanac). It's really quite significant...