POWER POINT What I’m hearing from energy insiders It was one of the most eye-opening and fascinating business trips in my 30-year career: the opportunity to travel to Venezuela to witness firsthand the signing of oil deals between the government in Caracas and Venezuelan and Western oil companies. CNBC was one of just a handful…
With less than two months until the midterms, election and county officials are prohibiting employees from participating on prediction market contracts. Officials said it’s the tightest measure they can take to ensure employees, who have access to ballots, do not commit insider trading on election contracts. “Obviously, we have no control over prediction markets themselves, or…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are rallying Friday , but the S & P 500 is still on pace for a negative week. The market is rebounding from oversold levels,…
Oil prices retreated on Friday, but notched sharp weekly gains after soaring above $100 a barrel for the first time in months. Brent crude oil futures, the global benchmark, settled down 2.8% at $104.61 a barrel. U.S. West Texas Intermediate was down 2.4% to settle at $100.05 per barrel. On Thursday, Brent crude peaked at…
Dan Chung Courtesy: Fred Alger Management Daniel Chung, the CEO and chief investment officer at investment firm Fred Alger Management, survived the Sept. 11 attacks on the World Trade Center by chance. That morning a quarter century ago, the then-tech analyst started his day at the Intercontinental Hotel in Midtown Manhattan, searching for answers on…
Saudi Arabia shut down its crucial East-West crude oil pipeline as a precautionary measure after multiple attacks, the kingdom’s Energy Ministry said Friday in a statement. The pipeline was targeted in the Riyadh and Madinah regions on Thursday morning, the ministry said. Multiple people were injured in the attacks, it said. Emergency teams were deployed…
Warren Buffett once said interest rates are to asset prices what gravity is to matter. If the options market is correct, things could get heavy. Case in point: the TLT, the iShares 20+ Year Treasury Bond ETF, which seeks to track the performance of an index of U.S. Treasury bonds. A quick review of the…
Oracle Corp. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Aug. 12, 2026. Michael Nagle | Bloomberg | Getty Images Oracle‘s shares jumped in premarket trading on Friday after it reported 30% revenue growth in its fiscal first quarter, fueled by strong demand for its cloud…
Energy prices will dictate whether the European Central Bank needs to hike interest rates into restrictive territory, Germany’s central bank chief told CNBC on Friday. “It’s very much dependent on how the energy prices evolve, how the price picture is evolving over the course of maybe the next month,” Joachim Nagel told CNBC’s Annette Weisbach…
U.S. diesel prices hit $6 per gallon on Friday for the first time ever, as fuel supply disruptions triggered by the Ukraine and Iran wars raises transportation costs across the entire economy. Truckers and farmers are paying about 63% more to fill up their semis and tractors than they did at this time last year,…
