The movie Battleship, based on the popular board game, opens today in the U.S. In most respects, it's a typical popcorn picture — the kind of effects-laden action movie that audiences often turn into a summer blockbuster.
And while it may not be any good, it is undeniably ours — American from the water up: a Universal Studios picture about an alien invasion, crammed with special effects from Industrial Light and Magic and set largely on American warships.
For years, Cushing, Okla., has been on the receiving end of a 500-mile pipeline funneling oil from the Gulf of Mexico to the American heartland.
Starting this weekend, that pipeline will start moving crude in the other direction. That flow reversal could soon have implications at gas pumps around the country.
"For 40 years, crude oil flowed north," says Philip Verleger, a visiting fellow at the Peterson Institute for International Economics. "Today, oil flows south. It's as if we turned the world upside down."
Don't worry if you missed out on Facebook's initial public offering. Chances are, if you own shares in a broad-based index fund, you'll be holding onto some Facebook soon enough.
Facebook is such a huge offering -– with an initial market capitalization of more than $100 billion, it instantly becomes one of the 25 largest "cap" stocks — that it could have a distorting effect on some funds, at least in the short term.