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
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
The risk to markets Friday is that Fed Chair Janet Yellen simply sounds more ready than markets expect to raise rates for the second time in 10 years.
After listening to other Fed speakers Friday, traders were watching out for Yellen to go in the same direction - that the Fed could possibly still raise rates twice this year and as soon as September. Yellen speaks at 10 a.m. EDT.
"She could say we want to raise rates twice this year and the markets will get hit," said John Briggs, head of strategy at RBS. "The end game is the markets are going to take them out of September, if they signal it too strongly."
Already Friday, St. Louis Fed President James Bullard said September is possible for a hike but he sees a very slow trajectory for rate hikes. Atlanta Fed President Dennis Lockhart reportedly said that two rate hikes are possible this year, but one is more likely. And Cleveland Fed President Loretta Mester reiterated that September meeting is "live" for a rate hike discussion, and that the economy is picking up in the second half of the year.
Markets are currently pricing about a 30 percent chance of a rate hike in September and roughly 55 percent odds for December, said Briggs. But the markets have not expected Yellen to signal rate hike timing at all.
If she does, the reaction could be strong. "The dollar will go up. Stocks will go down and financial conditions will tighten and they'll blink," Briggs said.
That would also snap Treasury yields out of their slumber and pressure emerging market currencies, and gold and other commodities.
But many strategists and economists say more likely is that she will sound dovish, and the reason may be that she will choose to address a more wonky academic question about long-term Fed policy rather than talk about what the markets want to hear.