Ouch! Here’s Wall Street’s next headache

The outlook for corporate profits is getting worse, and it’s not just about the battered energy sector. Banks, looked to as a bright spot for the upcoming earnings season, might not live up to expectations, according to an analysis from Goldman Sachs. The firm’s analysts have cut profit outlooks for three of the top four […]

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U.S. jobs to add heat to Fed lift-off debate

By Philip Blenkinsop BRUSSELS (Reuters) – The state of the U.S. labor market in March will consume economists and investors in the week leading up to Easter, adding to the seesaw debate over when the Federal Reserve will spring its first interest rate hike. Fed Chair Janet Yellen made it clear on Friday that the […]

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How American frackers plan to beat OPEC

Gary Evans, CEO of Houston-based energy firm Magnum Hunter Resources (MHR), has a blunt message for OPEC oil ministers hoping to force down prices and drive American competitors out of business. “OPEC is making a huge mistake,” he says. “We made a lot of money with oil at $100 (per barrel), and we’ll become more […]

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Wall Street pummeled as traders cash-in on profits amid weak data

(Bloomberg) — U.S. stocks fell, sending the Nasdaq Composite Index down the most in two weeks, as technology tumbled and investors sold the quarter’s biggest winners. Intel Corp., International Business Machines Corp. and Microsoft Corp. fell the most in the Dow Jones Industrial Average. Kraft Foods Group Inc. soared 36 percent after Warren Buffett’s Berkshire […]

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Saudi Arabia doesn’t get it: There is no American ‘energy policy’

Crude prices tumbled more than 2% early Monday after Saudi Arabia’s oil minister on Sunday said his nation won’t unilaterally cut production without cooperation from both other OPEC members and non-OPEC nations alike. Oil prices have bounced from the initial decline but the comments reinforced Saudi Arabia’s intent to hold the line on production. “We […]

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Investors eye data as stocks approach records

By Noel Randewich (Reuters) – Investors enjoying near-record levels for major stock indexes will scrutinize housing data and other economic indicators in the coming week for hints about the timing of U.S. interest rate hikes to see if the rally will continue. Concern about the Federal Reserve’s path of rate increases and the soaring U.S. […]

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Oil’s "transitory" fall starting to have long-lasting impact

Oil staged a remarkable intraday rally Wednesday, rising 10% from its low after the Fed suggested rate hikes are further off than previously expected, even as it removed the “patient” language from its statement. But oil’s prevailing trend resumed Thursday: In recent trading, WTI crude futures were down over 3% and Brent crude was off […]

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Millions of ‘underwater’ homeowners are trapped

Temperatures are warming and potential homebuyers are coming out to shop, but they are finding precious little for sale. Weak housing construction and the growth of the single-family rental market have pushed down supply for sure, but one nagging leftover of the housing crash is literally trapping potential sellers in their homes: Negative equity. Some […]

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Has the Fed’s ‘patience’ been exhausted?

By Mike Peacock LONDON (Reuters) – For a world economy coming to terms with a soaring dollar and a plunge in oil prices, this week will be all about the U.S. Federal Reserve’s policy meeting and its intentions on interest rates. A combination of the European Central Bank printing lots of euros and expectations of […]

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Energy drags Wall St lower; S&P set to drop for third week

By Ryan Vlastelica NEW YORK (Reuters) – U.S. stocks slumped on Friday, putting the SP 500 on track for its third straight weekly decline, as a robust dollar threatened to erode the profits of multinationals and tumbling crude oil prices pressured energy shares. Crude oil (CLc1) fell 4 percent to $45.15 a barrel, extending its […]

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