Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread 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
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Investors should reduce their exposure to large-cap stocks in favor of small- and mid-cap equities, seasoned Wall Street strategist Nicholas Colas told CNBC on Wednesday.
Of particular concern to his clients are first-quarter earnings and slowing revenue growth, he said.
"They see estimates that had to come down just to get beaten," the chief market strategist at Convergex said in an interview with "Power Lunch."
"The bottom line, it is not just oil and not just currency. It is a slow U.S. economy dragging down corporate earnings and they're looking to the first quarter to be the trough for the year. But at 18 times earnings … we're looking at a pretty expensive market."
While Colas isn't calling for a market crash, he believes there could be a 5 to 10 percent pullback as money flows out of the U.S. and into Europe and Asia.
Mid- and small-cap stocks, which have less exposure to the U.S. dollar, "are much more fruitful," Colas said.
In fact, the S&P mid-cap index has outperformed the by almost 2 to 1, he noted.
"You can just buy the indices and let the stock picking to someone else or you can look at individual stocks," he said.
Colas specifically likes tech.
—CNBC's Jennet Chin contributed to this report.