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
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
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
Amazon changed the algorithms that power its product-search system to favor products with higher profit margins, The Wall Street Journal reports.Technologyread more
Between 180 and 200 underperforming GameStop stores are set to shutter before the end of the fiscal year, and more could be on the way.Entertainmentread more
European stocks finished Friday sharply higher, as a positive morning trade on Wall Street, a strong rally in banks, and better-than-expected inflation data from China helped lift sentiment.
The pan-European STOXX 600 finished up 1.29 percent, with all sectors posting solid gains. However, following a number of weak sessions, the STOXX 600 closed up only 0.09 percent on the week.
Producer prices in the world's second-largest economy headed higher for the first time in almost five years, offsetting the negative sentiment generated Thursday by poor export data from the mainland. The news, as well as a selection of price target raises, gave a boost to the miners, with stocks Anglo American and BHP Billiton closing above 1.5 percent each. The rise in U.K. miners helped push the FTSE 100 back above the 7,000 level during trade.
Bank earnings helped provide a lift to markets both in the U.S. and Europe, after JPMorgan Chase, Wells Fargo and Citigroup all posted better-than-expected results, beating estimates on both top and bottom lines.
The Federal Reserve was also back on the table, with investors looking ahead to a speech by Fed Chair Janet Yellen, to see if she provides any clues on Friday as to when a U.S. rate hike is likely to come. It takes place after Europe's market close.
On the oil front, prices switched from gains to losses on Friday, as a stronger U.S. dollar weighed on sentiment, and as traders waited for an industry report, which would reveal if oil drillers in the U.S. were ramping up activity, Reuters reported.
Looking at stocks, Man Group was the day's best performer after it acquired Aalto, a real asset-focused investment manager for $25 million. The company also posted a 6 percent rise in funds under management in the three months to September 30. Shares soared 13.79 percent.
Banking was the top sector performer on Friday, with Banco Popolare jumping 6.25 percent after it said that it had sold bad loans worth 618 million euros. Meanwhile, Banca Popolare di Milano rallied 6.1 percent ahead of a shareholder meeting about its planned merger with Banco Popolare.
France's SFR jumped almost 4 percent, after Altice said it had bought a 5.21 percent stake in the firm, raising its overall holding of the company above 82 percent.
Software AG fell to the bottom of the STOXX 600, slipping 8.71 percent, after its latest earnings report disappointed investors.