Shares of Marathon Oil Corporation (NYSE: MRO) traded today at $16.04, eclipsing its 52-week high. Approximately 6.2 million shares have changed hands today, as compared to an average 30-day volume of 19.4 million shares. In the past 52 weeks, Marathon Oil Corporation’s share prices are bracketed by a low of $3.73 and a high of $16.04 and are now at $16.03, 330% above that low price. Marathon is an independent exploration and production company primarily focusing on unconventional resources in t
NEW YORK (Reuters) -Oil rose on Friday, gaining about 4% on the week as a global energy crunch boosted U.S. prices to their highest in almost seven years as big power users struggle to meet demand. Meanwhile the U.S. government said it was monitoring energy markets, but it did not announce immediate action to lower prices, such as a release from strategic petroleum reserves, which further supported the oil market. West Texas Intermediate (WTI) crude rose $1.05, or 1.3%, to end at $79.35.
A week filled with big Wall Street swings ended with a whimper Friday after another underwhelming monthly jobs report left investors scratching their heads. The Dow and the S&P 500 slipped 8 points each. The Nadsaq gave up 74. 194,000. That’s how many jobs the U.S. created in September. That number was the weakest in nine months, and way less than the 500,000 figure Wall Street was expecting. The data suggest changes in the education sector are impacting hiring numbers, and many Americans still seem afraid to return to the workforce during the health crisis. That really showed up in the unemployment rate which tumbled to an 18-month low of 4.8 percent as more people gave up looking for work.Peter Cardillo, chief market economist at Spartan Capital Securities is surprised at the stock market’s muted response.”We also saw hourly wages go up a little bit more than we expected, and that’s contributing to future wage inflation. And, you know, the 10-year (note) traded above 1.60 (percent). And so the market is really holding on to itself. I suspect that, you know, investors are looking forward to the earnings season, which begins next week.”In other market news: crude oil prices touched $80 a barrel in U.S. trading on Friday – that’s a 7-year high. Prices are up around the world due to a lack of supplies heading into the colder months for the northern hemisphere. Oil prices were up more than 4 percent for the week. That oil spike gave energy stocks a boost. ExxonMobil shares rallied 2-1/2 percent. Chevron gained 2-1/4 percent. Sticking with stock movers: Media conglomerate Comcast was cast in a negative light amid fears all cable companies are facing increased competition from broadband. Shares of Comcast slumped 4.7 percent Charter Communications was down almost 5 percent.
Global equity markets edged higher and Treasury yields rose on Friday after investors mulled U.S. labor market data, with a weak headline number masking job gains that likely will keep the Federal Reserve on track to taper its massive bond purchases soon. Yields on the benchmark 10-year U.S. Treasury note climbed past 1.6% for the first time since June, the dollar eased and stocks on Wall Street moved sideways with an upward bent.
You might not think the average user of the Robinhood trading platform would be enthusiastic about dividend stocks. Here are three popular Robinhood dividend stocks to buy in October. Warren Buffett and his longtime business partner Charlie Munger aren’t exactly fans of Robinhood.
If you’ve ever wondered why Wall Street and retail investors pay such close attention to billionaire Warren Buffett, it’s because he has an impeccable moneymaking track record. Since taking over as CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965, the Oracle of Omaha has overseen the creation of nearly $600 billion in market value for shareholders, and delivered an average annual return of 20% for the company’s Class A shares. Riding Buffett’s coattails has long been a profitable venture.
Oil prices have staged an epic comeback. Oil prices could have further to run, given rebounding demand and the slow return of supply. Devon Energy (NYSE: DVN) is leading the way, which is why it’s my top oil stock to buy right now.
Simply Wall St.
ContextLogic Inc ( NASDAQ:WISH ) has been on a downwards spiral after the IPO. The stock has lost some 64% in the last 6 months, and many investors are left wondering if the company has a viable business for the future. Today, we are going to evaluate what insiders have been doing in the months since the IPO, and get a proxy measure as to how they see the company’s future.