Oil Refineries Update
Sep 02, 2:25 PM ET |
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| With more than 90% of oil and gas production in the Gulf of Mexico closed, the nation is bracing to repair broken pipes, plants, and power systems. |
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| This afternoon IEA said that it will release 2 million barrels a day for the next thirty days to the world market. This only underscores the fact that there are no extra production capacities available to pump oil and only 'global reserves of nations' can save the current crisis. The damage to the Gulf of Mexico infrastructure will not be restored for weeks as stated by oil companies operating in the region. |
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Oil and Market Drop
Sep 02, 1:47 PM ET |
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| Oil service stocks declined along with oil prices. |
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| Markets trade lower despite falling crude-oil prices. The U.S. as well as Japan and EU countries will release oil from their reserves at the total amount of 2 million barrels a day. Unemployment rate declined to a four-year low of 4.9%. Jobs for August are higher by 169,000. |
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Oil Hits New High But Market Rises
Aug 11, 4:59 PM ET |
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| Japanese stocks surged to 4-year highs just four weeks to national election, European averages trade lower, Dell misses revenue target stock drops 7%. |
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| July retail sales gained 1.8% better than gains in June and 4-week average and last week’s initial weekly unemployment claims declined to 5-month low. European stocks declined due to the concerns related to oil price. Refco IPO jumps 23%. |
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Retail Sales Boost Averages
Aug 11, 12:46 AM ET |
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| Japanese stocks surged to 4-year highs just four weeks to national election, European averages trade lower, oil near $66 and dollar declined. |
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| July retail sales gained 1.8% better than gains in June and 4-week average and last week’s initial weekly unemployment claims declined to 5-month low. The week dollar is giving strength to metals and mining sector. |
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Market Rallies on Retail Sales
Aug 11, 11:03 AM ET |
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| Japanese stocks surged to 4-year highs ahead of a snap election Sept. 11, Europe was lower, oil eased below $65, dollar declined vs. yen, euro. |
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| Stocks edged higher early Thursday as traders were trying to digest the weaker-than-expected read on retail sales and oil prices near record high levels. July retail sales rose 1.8%, the Commerce Dept. said Thursday morning, after rising 1.7% in June. Economists expected sales to rise 2%. Sales excluding autos rose 0.3% vs. estimates for a rise of 0.6%. |
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Retail Sales in Focus
Aug 11, 8:22 AM ET |
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| Japanese stocks surged to 4-year highs ahead of a snap election Sept. 11, Europe was lower, oil eased below $65, dollar declined vs. yen, euro. |
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| Futures were trading higher early Thursday, pointing to a higher opening for stocks. Crude oil prices eased back but still hovered around record levels. Investors will focus on oil prices, corporate news and the latest economic readings to see if stocks can rebound from the recent broad decline. The government report at 8.30 is expected to show that retail sales quickened in July which will be a sign that economy continues to expand. |
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$65 Oil Weighs on the Market
Aug 10, 4:30 PM ET |
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| Oil reached $65 as America imports record amount of crude. Federated Department doubled 2Q earnings. Whirlpool raised its Maytag offer to $21. |
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| Early morning enthusiasm lifted averages but as oil climbed to $65 the market meltdown began. The 100 plus point rally in Dow turns 25 points sell-off. American Italian Pasta shares are down 34%. AIG, Disney, Cisco, Ralph Lauren trade on earnings news. |
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Market Dragged from the Morning's Peak
Aug 10, 2:00 PM ET |
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| Japan closed to 16-month high, and European averages close near three-year high. Federated Dpt reports double 2Q earnings and AIG exceeds estimates. |
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| Traders have decided to focus on the positive news in the Fed’s transcript. The belief that the economic growth is on track while labor and other factors of inflation are contained has dictated the morning trading. American Italian Pasta shares are down 34%. |
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Market Stays High
Aug 10, 1:49 PM ET |
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| Japan closed to 16-month high, European markets close to three-year high. AIG and Federated Department report earnings. |
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| Traders have decided to focus on the positive news in the Fed’s transcript. The belief that the economic growth is on track while labor and other factors of inflation are contained has dictated the morning trading. AIG, Federated Department, Cisco and Disney are trading on the earnings news. |
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Belief in Stronger Economic Gains
Aug 10, 10:46 AM ET |
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| Japan closed to 16-month high, European markets trade at three-year high. AIG and Federated Department report earnings. |
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| Traders have decided to focus on the positive news in the Fed’s transcript. The belief that the economic growth is on track while labor and other factors of inflation are contained has dictated the morning trading. AIG, Federated Department, Cisco and Disney are trading on the earnings news. |
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