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
Of the recessions the U.S. has seen dating back to the early 1980s, none has come without an oil spike of at least 90%.Economyread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread 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
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
It's a major comeback for Netflix after the company lost the streaming rights to shows like "Friends" and "The Office."Technologyread 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
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
New research by the Digital Citizens Alliance shows how easy it is to buy illegal steroids and other appearance- and performance-enhancing drugs.Cybersecurityread more
Sen. Warren won the endorsement of the grassroots Working Families Party, a progressive group that backed fellow progressive Bernie Sanders in the 2016 campaign.Politicsread more
GM shares were down nearly 3% Monday as analysts estimated the strike could cost GM tens of millions of dollars per day. The two sides resumed talks at 10 a.m. Monday...Autosread more
A new report out by the National Association of Realtors showed that pending home sales have risen to a 7-month high for February, and yet total home sales plunged to a 3-month low and is down more than 7%.
CNBC Contributor Ron Insana thinks high-end housing is headed to crash, particularly in New York where he's seen a dangerous oversupply, citing slowing demand, especially from foreign buyers.
"Power Lunch" interviewed three different real estate agents to understand the state of high end housing around the nation.
"The lull in contract signings is likely from the large East Coast blizzard, along with the slump in the stock market," Sam DeBianchi, founder of DeBianchi Real Estate told CNBC.
"Prices have gone up in Miami from 9% year over year, and wages have only increased 3-4%. People aren't able to spend as much, because they're not making as much," DeBianchi said. "Buyers can purchase though, because rates are still low."
DeBianchi cautions that's it's not a market to be flipping. "If you are an investor, however, it's still a great time to buy and rent it out, because you can still find those cash on cash returns."
"Anything under $3 million, we're seeing go right off the market," Austin Hoffman, real estate agent with Douglas Elliman told CNBC. "We're seeing a lot of price reductions in those higher end properties as listings are not moving as fast."
"From $1 to $15 million, our numbers are up and we're actually looking good," Aaron Kirman, President of the International Estates Division of John Aaroe Group told CNBC. "Where I'm beginning to see a slow-down is the uber high end, like $20 million up, there's a slowdown."