Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
The ballot comes at a precarious time for the country's longest serving prime minister, with the right-wing incumbent facing formidable challenges.World Politicsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Wells Fargo's third-quarter drop in mortgage originations is not particularly worrisome for the diversified company, bank analyst Dick Bove said Friday.
"From an operating standpoint, the company is doing actually pretty well," said Bove, the vice president of equity research at Rafferty Capital. "And therefore I don't think one has to worry about the fact that refinancing mortgages caused some difficulty in this quarter."
(Related video: Good news, bad news for banks: Bove)
Wells Fargo, the country's largest mortgage originator, reported record profits of $5.6 billion for the three months that ended Sept. 30, but the bank also said income from mortgage banking fell 43 percent.
Rising interest rates crimped new mortgages in the quarter, with originations dropping 29 percent, the bank said.
"I think it's obviously a significant negative," Bove said.
He added he was not particularly worried about the drop off because Wells Fargo's operating expenses were down and its loan quality is good.
(Related video: How a default would seize up funding for banks)
Jeffery Harte, an analyst at Sandler O'Neill, noted that Wells Fargo has been warning analysts for several months that its mortgage business would eventually slip.
"It's a cyclical, volatile business," Harte said . "It's going down sooner than we thought, but not more dramatically that we thought.