Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Markets in Asia fell on Wednesday morning after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Benchmark West Texas Intermediate oil ended higher on Monday after data showing a partial draw in stockpiles at the delivery point for U.S. crude helped steady a market weighed earlier by near record highs in Saudi production.
After a volatile trading session, U.S. crude for May settled up 64 cents, or 1.2 percent, at $56.38 a barrel. Brent crude gave up earlier gains to trade down 13 cents to $63 a barrel. I hit a intraday peak of $64.34.
Tensions in the Middle East and a drop last week in the number of rigs drilling for oil in the United States also put a floor beneath U.K. North Sea Brent and U.S. crude futures, traders said.
"The market was bouncing around looking for news to latch on to, and the draw numbers for U.S. crude certainly helped," said Phil Flynn, analyst at the Price Futures Group in Chicago.
Oil services firm Genscape reported a draw of more 900,000 barrels at the Cushing, Oklahoma delivery point for U.S. crude between Tuesday and Friday last week, market sources who saw the data said. For the week to Friday, Genscape reported a build of about 350,000 barrels, they said.
Speculation has been rife that the rapidly climbing U.S. crude supplies would soon cause storage tanks in Cushing to top, leaving little or no room for more barrels. The draw reported by Genscape eased at least some of that anxiety, traders said.
U.S. oil drilling rigs fell for a record 19th straight week to the lowest since 2010, data from oil services firm Baker Hughes showed on Friday. That has helped lift prices from six-year lows reached in January.
Since the beginning of April, oil prices have risen around 17 percent, pushed up by reports of a possible dip in U.S. output, but Morgan Stanley warned that Saudi production could be more important than developments in the United States.
"We worry about the market's fixation on the U.S. ... OPEC production may be more important as production increased 1 million barrels per day month-on-month in March. Saudi Arabia alone added the equivalent of half of Bakken (the largest U.S. shale oilfield) production in a matter of months—far beyond any U.S. slowdown," the bank said in a note.
Production in the world's biggest crude exporter would stay near record peaks around 10 million bpd in April, Saudi Arabia's oil minister, Ali al-Naimi, told Reuters on Monday in Seoul, where he was due to attend a board meeting of the state oil firm Saudi Aramco.
"I have said many times we will always be happy to supply to our customers with what they want. Now they want 10 million," he said.
Also on Monday, Saudi Interior Ministry spokesman Mansour Turki said the government had put security forces on alert for a possible militant attack on a shopping mall or energy installation, adding support to oil prices.
Riyadh has been carrying out air strikes against Iran-allied Houthi rebels in neighboring Yemen since March 26 in a conflict in which nine members of its security forces have been killed by cross-border fire.