Chinese officials will be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread 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 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 sectors this year, spiked 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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
European stocks ended sharply higher on Wednesday, helped by a rally in mining and banking stocks, following better-than-expected China export data.
The pan-European STOXX 600 closed up some 2.5 percent provisionally, with all sectors posting solid gains. London's FTSE 100 saw gains of 1.9 percent, and Germany's DAX jumped 2.7 percent by Europe's close.
Sentiment got a boost after data from China's General Administration of Customs showed the country's dollar-denominated exports for March increased 11.5 percent on-year, which exceeded forecasts.
As China being a major consumer of metals, spot metal prices jumped on the back of this news. On Wednesday, Europe's basic resources sector jumped to close 7.1 percent up. Shares of Glencore and Rio Tinto rallied over 6.5 percent each, while Arcelormittal's stock soared 9.6 percent, after it received a rating and target price upgrade from Credit Suisse.
Oil markets remained in focus for investors ahead of a closely-watched meeting on April 17 between OPEC and non-OPEC producers which is aimed at freezing current output levels. Oil prices came under pressure on Wednesday, as concerns continued to brew over what would actually be achieved at the meeting.
On Wednesday, Saudi Arabian oil minister Ali al-Naimi appeared to rule out a crude output cut in comments seen in the al-Hayat newspaper, causing oil prices to slip. However, prices pared some losses following mixed U.S. government data on crude stockpiles and gasoline demand. Brent crude was off more than 0.7 percent at Europe's close, trading at $44.25, while U.S. crude fell to hover around $41.80. Still, oil stocks remained strong, with Tullow Oil, Subsea 7 and Repsol, all closing above 6 percent each.
Despite the decline in oil prices, markets held their gains, with U.S. indexes trading higher around Europe's close, boosted by China.
The Italian banks were trading sharply higher on Wednesday. Earlier this week, leading financial institutions in the country agreed to set up a multi-billion state-backed fund to help tackle bad bank loans on Monday evening.
And on Wednesday, Italian economy minister Pier Carlo Padoan, told newspaper Il Sole 24 Ore, that there is no risk that European authorities such as the European Central Bank or European Commission, will block plans for the bank fund. BMPS, Banca Popolare di Milano and Unicredit all finished the session above 7.5 percent, with the overall sector closing 6.3 percent up.
Elsewhere in the banking sector, a senior official at top Credit Suisse shareholder Harris Associates said the Swiss lender took the right steps by shrinking the investment bank and pivoting to wealth management. Shares of Credit Suisse jumped over 8 percent.
On the earnings front, Tesco reported a 0.9 percent rise in U.K. like-for-like sales in the 13 weeks to February 27, its first quarter of underlying U.K. sales growth for over three years. And the British supermarket giant also said that operating profit before one-off items for the year came in at £944 million ($1.3 billion).
Despite the positive results, Tesco shares fell near the bottom of Europe's benchmarks, closing 7.8 percent lower, as it dampened profit growth expectations. The decline dragged down fellow U.K. retailer WM Morrison, which closed 2 percent down.