An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
U.S. stocks fell sharply on Monday, with benchmarks retreating from records and the energy sector slammed as the price of crude fell below $63 a barrel for the first time since July 2009.
"We're seeing a last gasp pullback in energy, and that 13 percent of the S&P 500 that is represented by energy companies," said Art Hogan, chief market strategist at Wunderlich Securities.
"Over the near term, it's a big help for the consumer, who haven't had any income or wage growth in a while. If it trades below $60 for months, I would think that would be problematic," Bruce Bittles, chief investment strategist at RW Baird & Co., said of crude's ongoing decline.
Crude for January delivery fell $2.79, or 4.2 percent, to settle at $63.05 a barrel on the New York Mercantile Exchange.
Apple fell sharply, with the consumer-technology maker leading the technology sector lower.
Chinese overseas shipments climbed 4.7 percent from a year earlier in November, the customs administration said.
Separately, Japan's economy contracted more than anticipated in the third quarter.
The fell 15.06 points, or 0.7 percent, to 2,060.44, with energy and materials falling hardest and utilities and financials faring best among its 10 major industry groups.
The Nasdaq shed 40.06 points, or 0.8 percent, to 4,740.69.
For every share rising, more than two dropped on the New York Stock Exchange, where nearly 814 million shares traded. Composite volume cleared 3.8 billion.
Gold futures for February delivery rose $4.50, or 0.4 percent, to $1,194.90 an ounce on the New York Mercantile Exchange.
On Friday, U.S. stocks rose, lifting the Dow and S&P 500 into uncharted terrain and posting a seventh week of gains, as investors embraced a stronger-than-forecast November payrolls report as backing the view the economy can handle rate hikes by the Federal Reserve in 2015.
"There is certainly a transition going on, being that for the past five years, this has been a Fed-driven market, and now the U.S. economy has the chance to gain more traction, and increase top and bottom-line growth for companies," said Bittles.
Coming Up This Week:
Earnings: AutoZone, Krispy Kreme, Burlington Stores, HD Supply
7:30 a.m.: NFIB survey
10:00 a.m.: Wholesale trade
10:00 a.m.: JOLTs
1:00 p.m.: $25 billion 3-year note auction
Earnings: Costco, Hovnanian, Toll Brothers, Lands' End, Vera Bradley, Men's Wearhouse
1:00 p.m.: $21 billion 10-year note auction
2:00 p.m.: Federal budget
8:30 a.m.: Initial claims
8:30 a.m.: Retail sales
8:30 a.m.: Import prices
10:00 a.m.: Business inventories
1:00 p.m.: $13 billion 30-year bond auction
8:30 a.m.: PPI
9:55 a.m.: Consumer sentiment
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