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
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
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread 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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Investor sentiment is continuing to deteriorate, according to surveys and Wall Street market strategists.
"The bulls dipped further to 24.7 percent, from 26 percent a week ago. That is a big drop from late April when the bulls were 57.4 percent," John Gray of Investors Intelligence wrote in a note to clients Wednesday. "We now see optimism below the March 2009 low of 26.4 percent."
Fundstrat's Tom Lee met with investors in Boston on Monday and found the qualitative level of fear was even worse than what the sentiment stats implied.
"A surprising number see this as 1987 again and 1998. Most portfolio managers expected equities to fall below the August lows. Monday's mood was worsened by tumbling tape, but many talked about how this felt like 1987 to them," Lee wrote in the note to clients Wednesday.
The Dow Jones industrial average lost 23 percent on October 19, 1987, on a day that's become known as "Black Monday."
"Ultimately," Lee added, "investors question the ability of the world to grow without China. A recurring theme in the meetings is the skepticism, and therefore, pessimism about world growth with China slowing."
Here's why the dire negativity may present a buying opportunity.