The first six weeks of 2010 have been a bit on the tumultuous side, as equity markets that came flying out of the gate have done a complete reversal, heading lower and erasing large chunks of the gains recorded in 2009. While the rocky start has been unnerving for investors anxious over the possibility of a double dip recession, others have found a silver lining in the recent pullback, as some big losses have created attractive entrance points in sectors that now appear to be bargains. [click to continue…]
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 was a development in the country that could have a major impact on the Iraqi economy and the global crude oil market. [click to continue…]
Earnings season continued on Wednesday with announcements from several major global energy firms. Exxon Mobil, the world’s largest oil company, reported earnings of $4.7 billion, or 98 cents per share, representing a 68% drop from year ago levels when the company set earnings records. Analysts had been expecting earnings of $1.06 per share, and Exxon’s [...]
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 [...]
The Wall Street Journal is reporting that Cnooc Ltd., a state-owned Chinese oil company, is close to a deal that would open the U.S. Gulf of Mexico to China’s oil companies for the first time. The potential transaction reflects the impact that the recent recession has had on global deal-making. Four years ago, Cnooc’s abandoned [...]
It’s been an interesting week in the world of ETFs: The leaders of the G-20 nations met in Pittsburgh, existing home sales fell 2.7% in August, and oil fell below $66/bbl. Here are the ETF Database staff picks of the week’s most important and interesting stories from around the Web:
