At that time, Sanders was one of many people who called for government intervention in the rising price of crude. In today’s market, however, many consider the oversupply is the culprit of downward pressure in oil prices. “If the market is going up, you buy; if you think it’s going down, you sell. It’s a matter of supply and demand,” Brad Schaeffer, natural gas options/futures Broker at BlackBarrel Energy, told CNBC’s “Closing Bell” on Friday. ‹ Don’t believe oil bump, $18 still coming:Kilduff Trouble ahead: Why 2016 keeps gettinguglier › Schaeffer told CNBC that the general population commonly confuses futures…
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IBM has been encouraging developers to build apps using its Watson artificial intelligence system, which it hopes will be a big moneymaker for the company in the future. On Wednesday it kicked off its latest push, pledging US$5 million in prizes for whoever makes the biggest breakthroughs using Watson by 2020. “We’re inviting teams from around the world to develop and demonstrate how humans can collaborate with powerful cognitive A.I. technologies capable of solving some of the world’s grand challenges,” the company said. And by grand challenges, it’s thinking big — it lists past achievements like the moon landing, mapping…
One analyst says that investors should expect dividend cuts in big oil after long-time industry leader Chevron reported a quarterly loss for the first time since 2002. “There will come a day where dividend is at risk and that day is today,” Oppenheimer senior analyst Fadel Gheit told CNBC’s “Squawk on the Street.” “Not only Chevron, but the rest of the industry is currently funding dividends through additional borrowing. You can’t do that forever,” Gheit said. Read More’Big oil’ earnings: Investors get ready for pain Although Gheit is anticipating Chevron to cut its dividend any day now, the company is…
The final school bell is about to ring on Google Play for Education. Google will soon shut down the program, which provided schools with tablets and licenses to bundle app purchases from the Play Store. Google will continue to support those enrolled until the expiration of their contracts. A Google spokesperson confirmed the closure in a statement to TechCrunch: “As of March 14 or later, Google will no longer sell Google Play for Education licenses. We’re committed to providing schools with the best-in-class tools for the classroom, including Chromebooks, which are the #1 selling device in US K-12 education, and…
The following article is a CNBC Pro free preview. Click here to subscribe). In one of the most volatile months in recent memory, U.S. stocks are on pace to close broadly in the red along with the rest of global markets. Among the major indexes, the small-cap Russell 2000, Nasdaq composite and biotech sector were hit the hardest, each down at least 9 percent in January. The only areas of the market bucking the trend were utilities and telecom stocks, which are seen by investors as defensive plays. Read MoreTrade it: Where to hide during recessions Here’s your full data…
There’s little chance the OPEC cartel and nonmember Russia could reach a deal that would result in lower oil production, despite market intrigue and a jump in crude prices on talk of a possible agreement. Analysts said Iran would have to be on board in order for OPEC to be willing to strike any deal, but an unnamed Iranian official quoted by the Dow Jones news agency on Friday signaled the country would not participate. “It’s very hard to see how this works with Iran ramping up production. What the key is now is how much Iran comes out in…
CNBC’s Jim Cramer doesn’t understand why investors reacted positively to news that the Bank of Japan unexpectedly adopted negative interest rates. “I saw futures jump huge when Japan announced this, but it’s like: ‘No, guys. It’s bad for us,'” Cramer said on “Squawk Box.” “This is about them taking share from us.” In a move that was signaled by the Nikkei business daily minutes ahead of the decision, the BOJ said it will apply a rate of negative 0.1 percent to excess reserves that financial institutional place at the bank, effective Feb. 16. Charging banks for the privilege of parking…
Updated at 12:56 a.m. Pacific to add Apple’s statement. Apple was ordered Tuesday by a federal judge in California to provide assistance to the FBI to search a locked iPhone 5c that was used by Syed Rizwan Farook, one of the terrorists said to have been involved in an attack in San Bernardino, California, on Dec. 2. The government’s request under a statute called the All Writs Act will likely give a boost to attempts by law enforcement to look for vendor-provided backdoors to encrypted devices and communications. Apple is fighting in a New York federal court a similar move…
Derivatives expert Mike Khouw joined CNBC Pro on Friday to discuss why every investor should use options. During his talk with CNBC’s Mike Santoli, Khouw, a 20-year Wall Street veteran and co-author of “The Options Edge,” explained how options can be used in a volatile environment like today to generate steady income, if they are used properly. By using real-life examples, he walks investors through these strategies. Santoli also challenges Khouw on the very real risks investors face when they decide to start trading options. Given the explosive growth in options volume over the last decade, this interview is a…
Craigslist, the popular online listings service, has waged a long fight against scammers, but a new academic study suggests it’s been losing the battle. The study focussed on listings for housing rentals, and found that Craigslist failed to remove a majority of those that were fraudulent. The researchers analyzed two million ads over a five-month period in 2014 and determined that Craigslist had flagged and removed fewer than half the listings that likely weren’t genuine. Looking for housing can be stressful, and people are vulnerable to schemes that advertise below-market pricing or ways to get ahead of the rental game.…