Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Stocks in Asia were mostly higher on Monday amid rising tensions between the U.S. and China.Asia Marketsread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible...Oilread more
The Australian Electoral Commission (AEC) on Monday said Morrison's coalition has won 75 seats in Australia's parliament, one seat short of a 76-seat majority.Electionsread more
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any...World Politicsread more
SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
There are many negatives weighing on the market right now, but Art Cashin of UBS Financial Services says of all the headwinds, the price of crude oil is the most serious.
"It has returned to the downside," Cashin said Wednesday on CNBC's "Power Lunch, " and it's the weakness in oil that has spooked pros on the NYSE floor.
Although the threat of as well as unrest in the and Russia are also problematic for stocks, Cashin said as negative catalysts they're not as powerful as oil.
And he added the outlook is reflected in the price action, earlier in the session. "When the market turned at 9:45 a.m., if you look at a chart of oil, that's when oil went positive," Cashin said.
In other words, the market and oil are almost trading in lockstep. And after 12 p.m. oil turned lower and the market tumbled. Then, late day as oil pared losses, so did the S&P 500.
Looking ahead to Thursday, Cashin added if oil drops below $80 in a meaningful way, the stock market could go from bad to worse. "What happens in the energy markets will be very important," Cashin added in an appearance on "Closing Bell. "
"Below $80, oil will raise concerns about real deflation," Cashin said. " are already beginning to see literal deflation. " If WTI slips below $80, Cashin says pros will fear deflation is wider spread that previously believed.
And, taken a step further, Cashin says if deflation becomes a global phenomenon, traders will run for cover. "It's a worldwide threat and it seems to be coming home to roost."