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Politics Barack Obama

  • The Israeli-Turkish alliance so abruptly shattered in the past few days may have been born of military necessity, but it was still real.

  • Stock futures were slightly higher early Thursday, as European and Asian markets have rebounded strongly following yesterday’s rally in the U.S. Futures have held steady throughout the morning with their gains intact even after the flurry of economic data and retail sales reports this morning.

  • Contract workers from BP ferry oil soaked waste to a pickup point as other workers use skimmers to clean oil from a marsh near Pass a Loutre on June 1, 2010 near Venice, Louisiana. Earlier in the day, U.S. President Barack Obama called the Deepwater Horizon accident the 'greatest environmental disaster of its kind in our history.'

    The chatter began weeks ago as armchair engineers brainstormed for ways to stop the torrent of oil spilling into the Gulf of Mexico: What about nuking the well?  The NYT reports.

  • Plus, get calls on Apple, AT&T and more.

  • In almost a flip-flop of yesterday (Tuesday), the markets posted a strong late-day rally Wednesday afternoon. The major indices finished the day up well over 2 percent, closing the session at the highs of the day — quite a contrast to yesterday’s drop at the end of the day. Leading the rally today are sectors that were noticeably beaten up yesterday...

  • President Barack Obama

    Seizing on a disastrous oil spill to advance his agenda, President Barack Obama on Wednesday called on Congress to roll back billions of dollars in tax breaks for oil and send him a clean-energy bill that would help the nation end its "fossil fuel addiction" for good.

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    President Obama’s push for higher fuel-efficiency standards for diesel-guzzling, long-haul trucks may be laudable but is probably unachievable by the target date without more development of key technologies,

  • Unemployment

    Unemployment is expected to only fall to 9.8 percent from 9.9 in April, because many sidelined adults, sensing improved conditions, started looking for work. The big challenge is to keep GDP growing at least 3 percent to pull down unemployment.

  • Job Search

    You are a member of the Senate, and you’re starting to get spooked by the deficit. Polls show that voters are worried about it. Economists are, too. Something needs to change.

  • After losing steam late in the session yesterday (Tuesday), stocks had pointed to a higher open this morning. (Note: US markets did open higher, led by energy and financials.) But in a fairly rare sight, stock futures are advancing as the U.S. Dollar Index rises and commodities fall.

  • What's Next?

    Just how much the US economy will expand this year and next remains a question among economists—with the wild card being the impact of European turmoil on US growth.

  • An encouraging sign Tuesday for the markets: for the first time in a while, stocks shrugged off concerns overseas and have responded well to encouraging economic news here in the U.S.

  • Greenpeace marine biologist Paul Horsman examines oil washed onto a beach with the tide at the mouth of the Mississippi River near Venice, Louisiana.

    It is noteworthy that the BP oil explosion occurred on April 20. Three days later, on April 23, the market peaked. Is this is a coincidence? Or is Mr. Market telling us something that we do not yet fathom?

  • President Barack Obama

    President Barack Obama says an independent commission investigating the Gulf oil spill will thoroughly examine the disaster and its causes to ensure that the nation never faces such a catastrophe again.

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    Gas prices could climb higher than $5 a gallon by 2012 and oil companies could move exploration to other countries if the Obama administration’s suspension of offshore drilling continues for six months, John Hofmeister, a BP consultant and former Shell executive told CNBC Tuesday.

  • Risk aversion continues to be at the center of attention to kick off June. Following the Dow’s worst May since 1940, U.S. stock futures were notably weaker this morning. Also weighing on the European markets: political instability as Germany’s President Hoerst Koehler resigned and worries over future downgrades of European debt.

  • With one action, Turkey now appears to be the defender of the Palestinians in Gaza, usurping the role that Iran has been trying to claim. Israel was trying to keep control of Gaza and will claim they were provoked and attacked first.

  • Crewmen aboard the motor vessel Joe Griffin look on as the mobile offshore drilling unit Q4000 lowers a pollution containment chamber May 6, 2010 in the Gulf of Mexico. The chamber was designed to cap the oil discharge that was a result of the Deepwater Horizon incident.

    Unable for six weeks to plug the gushing oil well beneath the Gulf of Mexico, BP renewed an effort  to use a dome to funnel some of the leaking crude to a tanker on the surface, the NYT reports.

  • A BP cleanup crew shovels oil from a beach on May 24, 2010 at Port Fourchon, Louisiana. BP CEO Tony Hayward, who visited the beach, said that BP is doing everything possible to clean up the massive oil spill still gushing into the Gulf of Mexico.

    The Obama administration is scrambling to respond to the failure of the latest effort to plug the gushing oil well in the Gulf of Mexico amid fears that the leak could continue until August. The NYT reports.

  • Video still of oil spill in the Gulf of Mexico.

    After failing again to cap the Gulf of Mexico oil well,  BP scrambled Sunday to end the spill that one official called the biggest US environmental disaster ever.