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
After a year of extreme volatility, mainland stocks in Shanghai and Shenzhen have emerged as Asia's shining stars, while Southeast Asian stocks disappointed as the region's laggards.
China's Shenzhen Composite was the region's best performer with year-to-date gains of 63.2 percent.
The index may be lesser well known than its Shanghai counterpart but it boasts smaller companies covering new-economy sectors, such as healthcare, Internet and technology, compared to Shanghai's state-owned giants.
Analysts say these companies are becoming increasingly in-demand among mom-and-pop investors, the key drivers of Shenzhen trade, as the world's second-largest economy undergoes a transition to consumption-led growth from its previous dependence on large scale manufacturing.
New Zealand's NZX 50 came in second place with a near 14 percent increase. The index has rallied to multiple record highs during the past two weeks thanks to a recovering dairy sector, the nation's top export, and expectations for more monetary stimulus.
Dairy prices rose 2 percent at the last auction of the year on December 15, with the benchmark GlobalDairyTrade (GDT) Index ending at $2,458, off a thirteen year-low of $1,815 hit in August. Meanwhile, a stronger has boosted hopes that officials will unleash further easing to offset the currency's negative impact on growth. The local dollar is 5 percent higher against the greenback over the past month despite the central bank's wishes for further depreciation.
In third place is the Shanghai Composite with a 9.4 percent spike. Despite a rout that wiped trillions off its market value from June to August, Beijing's multi-billion dollar support program to buy stocks seems to have paid off.
The Nikkei 225 came in fourth with a 9 percent rise, followed by Vietnam's 6 percent gain.
A more than 14 percent loss for Singapore's Straits Times Index makes it Asia's worst-performing market this year.
Despite the city darting a technical recession in the third-quarter, a weakening manufacturing base, cooling construction activity, poor corporate balance sheets and a tepid property market are weighing on overall growth.
Thailand's SET followed closely behind, down 14 percent, while Indonesia's Jakarta Composite trailed with a 12 percent fall, due to oil pressures, a strong greenback and fears of higher U.S. interest rates.
Despite both countries being net energy importers, oil's sweeping decline this year hit big-cap energy stocks. Jakarta also exports some of its oil overseas so lower energy prices are double-edged sword for Prime Minister Widodo's administration.