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
"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
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Alibaba, the Chinese e-commerce behemoth that listed in New York last month, briefly muscled ahead of Walmart by one important measure on Tuesday, when its market valuation surpassed that of the world's largest retailer by revenues.
Shares of Jack Ma's Hangzhou-based group climbed as much as 2.8 percent to touch a new record high of $100.50, lifting its market capitalization above $247 billion.
At that level, Alibaba was just $2 billion short of the list of the world's 10 most valuable companies, within reach of Swiss pharmaceutical groups Roche and Novartis. Alibaba would have reshuffled the coveted top 10 had it not been for better than expected third-quarter results from Novartis.
Alibaba's stock closed at $99.68, trimming its market value to $246 billion, a few hundred million dollars behind Walmart.
Walmart, with 11,000 stores in 27 countries including China, reported revenues of $473 billion for its past financial year, compared with the $8.6 billion Alibaba collected from its online marketplaces.
The gains on Tuesday follow comments from Mr Ma, the company's founder and executive chairman, who told a conference on Monday evening that he was interested in working with Apple on financial payments.
Alibaba floated in New York on September 19, the day that remains the peak for US equity markets and preceded a near correction in the benchmark S&P 500 index.
Its shares, which were priced at $68 a piece, rallied 38 percent on their debut day, as underwriters took hours trying to match orders amid heavy demand. Alibaba eventually opened for trading on the New York Stock Exchange at $92.70 and touched a brief high of $99.70.
Over the past two weeks, several Wall Street analysts have unveiled their targets and ratings for Alibaba. The company has received a warm reception, with more than three-quarters of brokerages recommending the stock as a 'buy'.
Read MoreAlibaba opens at $92.70 per share
More from the Financial Times:
Jefferies, which initiated coverage on Monday, said it expects Alibaba to remain the dominant online retailer in China over the next decade.
"China's changing internet user demographics and mobile development support our favorableview on e-commerce for the next decade," Cynthia Meng, an analyst with Jefferies, said. "We estimate well over half of the Chinese population will be shopping on Alibaba's platforms in 10 years."
Revenues are expected to reach Rmb 130.5 billion ($21.3 billion) in 2017, a 149 percent rise from fiscal 2014 levels, according to analyst forecasts collected by Bloomberg. In contrast, Walmart's sales are projected to climb 7 percent over a similar period to $522 billion.
The many banks that underwrote the record $25 billion offering are still restricted from commenting on the company. But that lock-up period, which will end in the coming days, may fuel additional movement in the shares ahead of Alibaba's quarterly results next week.