- 123jump.com Staff
- 28 Aug, 2005
- New York City
As hurricane Katrina gathered speed and strength to level 5, major oil companies have announnced production shut-downs in the Gulf of Mexico region. The region produces 1.5 million barrles of oil per day and 10 billion cubic feet of natural gas. The potential landfall on Monday morning near New Orleans may cause severe weather conditions in and aroud the city.
- 123jump.com Staff
- 28 Aug, 2005
- New York City
Eighteen percent of the nation's energy flows through a very narrow two-lane highway handling more than 10,000 daily vehicle traffic used by cargo and 6,000 port employees. Now Katrina threatnes to close that down. According to latest EIA report if this road is closed for more than two weeks gasoline prices can skyrocket. Louisiana generates more than $5 billion in taxes to the federal government but very little of that is shared in the local development.
- 123jump.com Staff
- 27 Aug, 2005
- New York City
1.5 million barrels of oil and 10 billion cubic feet of gas are pumped from the Gulf of Mexico. There are more than 7,000 fields in operations in the region of 650,000 square miles. While few companies have begun to evacuate operational staff from the region on Friday, on saturday evening with the direction of Katrina heading westward Shell, Kerr-McGee, Exxon Mobil, Anadarko Petroleum, Murphy Oil and Devon Energy have announced plans to shut production.
- Yordanka
- 27 Aug, 2005
- New York City
The market for IPOs has cooled down after a burst in July and especially in the first half of August. Nevertheless, two initial public offerings received warm welcome and made double-digit gains in their debuts last week. There are no deals scheduled to price the week of August 29th.
- 123jump.com Staff
- 26 Aug, 2005
- New York City
Fed Chairman delivered one of his most cautious speech at Central Bankers gathering. While the topic was central banking but he openely worried about recent housing boom, after-efffect of low interest rate in the long run and economic imbalances due to current account and trade deficift in the U.S. economy. Univ. of Michigan consumer sentimet Index dropped. Verizon stock closed at new 52 week low.
- 123jump.com Staff
- 26 Aug, 2005
- New York City
Fed Chairman expressed caution and warning on the persistent trade and fiscal imbalances and worries that protectionist measures discussed in Congress may not prepare America for the upcoming global challenges. Greenspan also expressed his concerns for the recent housing boom and as he stated 'asset prices' are increasing driving Fed's decision making. Natural gas remains above $10 price level.
- albena
- 26 Aug, 2005
- New York City
Stocks declined at the open Friday after the weaker-than-expected consumer sentiment data. The August sentiment index declined to 89.1 from an initial read of 92.7 on surging oil prices fears. Merck & Co. is in focus due to reports it may settle some of its Vioxx-related lawsuits. WPP Group posted a 41% rise in first-half net profit and lifted its operating margin target for the year. No major companies are scheduled to report earnings Friday.
- albena
- 26 Aug, 2005
- New York City
Futures are trading higher Friday and market will watch final August consumer sentiment data from the University of Michigan, which is expected to decline due to surging oil prices. Merck & Co. is in focus due to reports it may settle some of its Vioxx-related lawsuits. WPP Group posted a 41% rise in first-half net profit and lifted its operating margin target for the year. No major companies are scheduled to report earnings Friday.
- 123jump.com Staff
- 25 Aug, 2005
- New York City
Florida braces for storm and oil and gas markets hit new high. Natural gas prices reached all-time high and closed at $9.984 MBTU highest since the futures began trading in 1990. The natural gas prices are 80% higher than a year ago. Hawaii prepares to enforce price caps for gasoline and natural gas as of Sept 1.
- albena
- 25 Aug, 2005
- New York City
Oil retreated after hitting a record high and stocks remained in the positive territory. Yet another restructuring at Eastman Kodak and GE's $1.6 billion purchase of a stake in Turkey's No. 3 bank are in the spotlight. The number of Americans filing new claims for unemployment benefits dropped last week with the four-week average for people receiving benefits reaching a 4-year low.
- albena
- 25 Aug, 2005
- New York City
Oil slightly retreated after hitting a record high and stocks opened slightly above flat line. Re-organization at Eastman Kodak and GE's $1.6 billion purchase of a stake in Turkey's No. 3 bank are in the spotlight. The number of Americans filing new claims for unemployment benefits dropped last week with the four-week average for people receiving benefits reaching a 4-year low.
- albena
- 25 Aug, 2005
- New York City
Oil retreated after hitting a record high and stocks are expected not to lose ground as futures indicate a flat opening. On Thursday morning traders will certainly focus on jobless claims, seen slightly down from last week, but oil prices draw the main attention. Oil neared $68 a barrel in Asian trade Thursday as a tropical storm threatened to disrupt supply from the US Gulf Coast. Toll Brother
- 123jump.com Staff
- 24 Aug, 2005
- New York City
Another day another reason to take oil higher. Petroleum invetory report from the Energy Department suggested lower gasoline inventories and impendiing tropical storm in the Gulf of Mexico gave enough reasons to oil to trade higher than $67 per barrel. On earnings front BHP Billiton historic profit and revenue but cautioned that company will use capital for business growth than share with investors.
- albena
- 24 Aug, 2005
- New York City
The petroleum inventory data and home sales report helped investors recover from the disappointing data from the Commerce Department's report that durable goods dropped 4.9% in July. Falling gasoline inventories are fueling strength in oil stocks.
- albena
- 24 Aug, 2005
- New York City
Stocks declined in early trading as oil prices topped $66 a barrel and a larger-than-forecast 4.9% drop in July durable orders, after a revised 9.2% gain over the prior two months, provoked concerns that the economy could be slowing down faster than expected. On the other hand, new home sales in July hit a record high and helped trim the index losses. Google is to launch its instant-messaging service today. BHP Billiton reported record full-year net profit up 89.3 % vs. a year ago.