Although the global economy remains shaky to say the least, commodity prices have been soaring as worries over the U.S. dollar continue to dominate the market. Oil prices have held up especially well considering the possibility of a reduction in demand in the foreseeable future and are currently trading around the triple digit mark. This strength in energy prices has helped to boost earnings for a variety of firms tied to the oil and gas industries be it companies that engage in drilling or exploration of these resources. In fact, before the bell yesterday, Baker Hughes, a major driller of energy resources, reported a massive earnings increase as profits at the company nearly tripled from one year ago. This strength in the corporate side of the energy story has put pressure on a variety of other names in the field as well, many of which are reporting earnings later on in the week. One such company is Occidental Petroleum (OXY) which looks to give its earnings report before the bell today. [click to continue…]
IndexIQ rolled out the latest ETF offering exposure to oil companies today, debuting the IQ Global Oil Small Cap ETF (IOIL). The new ETF will be the first exchange-traded product to offer exposure to global small cap companies engaged in the oil sector, including areas of exploration and production, refining and marketing, and equipment, services [...]
Optimism over the health of the global economy has surged in recent weeks as investors have scooped up shares in a variety of industries in order to benefit from a budding recovery. This joyful mood has also helped to boost the price of crude oil which was trending close to its 52 week high, approaching [...]
On Monday, news of coordinated bomb attacks in Baghdad made headlines around the world, highlighting the ongoing violence that continues to grip Iraq. Also on Monday, the government reported that the man known as “Chemical Ali,” one of the most ruthless allies of Saddam Hussein, was executed for crimes against humanity. Receiving far less attention [...]
The Jefferies | TR/J CRB Wildcatters Exploration & Production Equity ETF (WCAT) began trading this week, offering investors a way to gain exposure to equity securities of a global universe of companies engaged in the production of oil and natural gas sectors. The index underlying WCAT is a modified cap-weighted benchmark. To be eligible for [...]
Over the last year, U.S. equity markets have staged a remarkable recovery as volatility has plummeted and the emergency stimulus measures implemented amidst heated debate appear to have had their intended effect. Indications that unemployment may be close to peaking and that consumer confidence is on the rise once again only add fuel to the [...]
Oil prices have nearly doubled from January 2009 levels, and many investors are once again looking towards energy ETFs as potential beneficiaries of a prolonged jump in prices. But unlike previous oil rallies, the domestic energy sector has delivered a muted performance in the wake of the most recent run-up. The industry followed “black gold’s” [...]
One of the world’s most successful bond managers is encouraging investors to bet against predictions made recently by Federal Reserve Chairman Ben Bernanke, who recently told a group of business leaders that inflation was not a major concern and could even move lower from its current levels.
Direct investment in crude oil products used to be limited to major financial institutions and oil companies themselves, but the development of the ETF industry in the U.S. has democratized the investment process in many ways, including making investments in various oil products accessible to average investors. There are a number of exchange-traded products that [...]
Over the last two weeks, crude oil prices have crept higher on hopes of a continued recovery and increasingly strong demand from China. With some analysts anticipating that crude will continue to rise, many investors have begun tilting their portfolios more heavily towards energy ETFs, hoping that higher margins will lead this sector to outperform [...]
Through the first six months of the Obama administration, campaign promises were largely moved to the back burner while all available resources were devoted to an economy spiraling further and further into recession. Now that the country has lifted itself out of the recession and a recovery, albeit a fragile one, is underway, Washington has [...]
