Did you know that Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL) went skidding into the end of 2017? Some investors may not have noticed the underperformance in Google stock, as it stumbled up to and through the holiday trading periods. On Dec. 18, Alphabet stock leaped to new all-time highs, before d
The time to buy, were often told, is when the blood is running in the streets. But does this nugget of contrarian wisdom apply when, instead of blood in the streets, its oil gushing into the Gulf of Mexico?
Thats the question we should be exploring this week, the seventh anniversary of BPs disastrous 2010 Deepwater Horizon oil spill, which killed 11 people and injured 17 others.
U.S. equities finished mixed in trading on Monday, with all the excitement centered on Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN) as the two tech giants pushed the Nasdaq Composite to another new record high. This was the 13th gain for the index out of the 15 trading days so far this month — a melt-up on a scale not seen since February.
Rowan (NYSE:RDC) is the first offshore drilling company to publish its fleet status report this earnings season. The report gives us a peak at what is going on in the industry. Here are the main changes that I noticed in the report:
1. Cobalt (NYSE:CIE) elected to pay $96 million in order to end the contract of the drillship Rowan Reliance. This is hardly news as the termination sum has been....More>>>
Gasoline futures soared Monday as Tropical Storm Harvey continued to wreak havoc on Texas, knocking major Gulf Coast refineries out of action.
And while the storm is also expected to curtail offshore crude oil production in the Gulf of Mexico, crude futures are under pressure. Thats because the supply impact is more than offset by the hit to demand for crude by the refinery shutdowns.
2016 was a surprising year… It was the eighth year of this bull market. But that didn't slow things down. U.S. stocks jumped 12%. Oil prices soared by 45%. And gold had a wild ride, eventually ending the year up 9%. With all that happening, you might have missed the major boom that happened in our neighbor to the north… Canada. Canadian stocks had a....More>>>
As OPEC meets Wednesday in Vienna, this could be one of its last chances to assert its power before Trump takes office.
“This is really OPEC’s last hurrah to have a real impact on the global market. When Trump comes in, it will be tougher to control prices,” says Phil Flynn, senior energy analyst at PRICE Futures Group in....More>>>
Stocks head into the weekend on a weaker note as investor sentiment appears to be shifting from an overly optimistic outlook to one that is more cautious. Energy stocks in particular have experienced some significant selling pressure as we’ve seen a short-term decline in the price of crude oil. While crude is beginning to see some signs of technical support at $62, all of the energy companies....More>>>
The bull market in stocks has now been running strong for eight full years, and investors who have seen major market benchmarks triple from their 2009 lows were in a reasonably good mood on Thursday. Stocks didn’t move much, with the Dow rising just 3 points on the day, as a generally favorable market environment was tempered somewhat by declines in U.S. crude oil prices below the $50-per-barrel....More>>>
Why oil’s plunge is freaking out the stock market The latest plunge in oil prices is putting a smile on the faces of millions of Americans. But should it?
Sure, the stunning crash in oil prices below $27 a barrel seems great for consumers because it’s driven gas at the pump to nearly $1 a gallon in some places. And the thinking is that it should help boost the U.S. economy,....More>>>
U.S. equities climbed higher on Tuesday as traders returned after the long holiday weekend and looked ahead to what 2017 will bring. Good things apparently, as prices rose to break a three-day losing streak and once again put 20,000 in play.
In the end, the Dow Jones Industrial Average gained 0.6%, the S&P 500 gained 0.9%, the Nasdaq Composite wafted up 0.9% and the Russell 2000....More>>>
As Texas considers a “bathroom bill” aimed at transgender individuals, top executives have sent a clear message to the state’s governor: We oppose it.
On Monday, more than 50 business leaders from the Houston area sent a letter to Gov. Greg Abbott, a Republican, asking him to “avoid any actions, including the passage of any ‘bathroom bill,’ that would....More>>>
A pile of rusty pipes and materials are all that remain of Lanzhou New Area’s tram project. Only a year ago it was a flagship public-private partnership for the planned city in Central China, before it fell victim to President Xi Jinping’s debt clampdown.
Major offshore drilling stocks have had a great start to this year. Rowan (RDC), Diamond Offshore (DO), Transocean (RIG), Ensco (ESV), and Noble Corp. (NE) have all increased in price. The main driver for this price increase was the upside in oil prices. Brent oil (BNO) is now close to the psych
Google's (GOOGL) (NASDAQ:GOOG) stock has surged over the last year, gaining approximately 37%. Even though this has occurred, Google's forward PEG of 1.63x is still attractive for such a remarkable company and brand. I believe there remains additional upside for the stock given the fol