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 sector this year, spiked on 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
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 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
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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
U.S. job gains in July fell slightly short of expectations, and the unemployment rate did not budge from June, the Labor Department reported Friday.
American companies added 215,000 jobs for the month, while the unemployment rate remained at 5.3 percent, the department said. The labor force participation rate also remained flat at 62.6, its lowest level since 1977.
Economists polled by Reuters expected nonfarm payroll gains of 223,000 in July, with the unemployment rate at 5.3 percent. However, the payroll growth was directly in line with a Dow Jones estimate of 215,000.
The U.S. stock markets, worried about a possible Federal Reserve interest rate increase, opened slightly lower Friday after the report was issued.
The Fed has scrutinized job market data as it determines when to raise the federal funds rate for the first time in nine years. After its most recent meeting late last month, the central bank's policy committee said the labor market "continued to improve" while posting "solid" job gains.
Some observers noted that the solid, but not spectacular, gains provided more fuel for the Fed to hike interest rates in September.
"We have nearly all year expected a rate increase in September and we see no reason to alter that view with the release of today's report," BTIG strategist Dan Greenhaus said in a note after the report.
"It is easily enough to keep the Fed on course for a September liftoff," economist Paul Ashworth of Capital Economics said in a note.
In the Labor Department report, a broader measure that includes those who have stopped looking for work or working part-time for economic reasons slipped to 10.4 percent from 10.5 percent in June. The number of seasonally adjusted part-time workers dropped from the previous month.
The average workweek for all employees on nonfarm payrolls rose slightly to 34.6 hours. Average hourly earnings climbed by five cents to $24.99.
The Labor Department also revised its May gains up, to 260,000 from 254,00 previously. June additions were revised to 231,000 from 223,000.
Retail trade and health care helped push job gains in July. Employment in retail trade rose by 36,000 in July, while the health care industry added 28,000 positions.
Manufacturing positions climbed by 15,000 and motor vehicle parts and dealers jobs rose by 13,000.
A mixed bag of separate labor market metrics surfaced before Friday's Labor Department report. American companies added a lower-than-expected 185,000 jobs in July, according to the ADP private payrolls report this week.
The employment cost index—the broadest measure of labor costs—rose 0.2 percent in the second quarter, the Labor Department said last week. That marked the smallest increase in 33 years and fell short of a consensus 0.6 percent increase, according to economists polled by Reuters.
However, the Labor Department said new applications for state unemployment benefits totaled 270,000 in the week ended Aug. 1, rising less than expected. Jobless claims have stayed below 300,000—a level that signals a strengthening labor market—for 22 straight weeks.