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
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
A new research study by the Digital Citizens Alliance shows how easy it is to buy illegal steroids or appearance and performance enhancing drugs (APEDs)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 the company's own products, The Wall Street Journal reported.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
These are the stocks posting the largest moves midday.Market Insiderread more
New York Fed President William Dudley said Friday that a rate rise is getting closer and could come as soon as this year, according to Dow Jones.
"I think if the economy continues to evolve along the path we expect, I'd expect we'll be raising interest rates relatively soon," Dudley said in an interview with The Wall Street Journal.
He also said "I would expect this year" action will happen when it comes to increasing the 0.25 percent to 0.50 percent central bank overnight target rate range, the news wire said. He declined to specify whether the increase would come in November or December.
His remarks followed comments earlier in the day from Fed Chair Janet Yellen that indicated the central bank may be inclined to maintain easier monetary policy for longer and let inflation run hot for a while. Traders took the news as dovish.
After the report of Dudley's comments, the climbed more than half a percent to hit session highs and the 10-year U.S. Treasury yield hit a session high of 1.799 percent.
The New York Fed president said inflation will reach 2 percent again in the next two years and that the U.S. economy is likely to grow at a 2 to 2.5 percent rate, according to the news wire. He also said in the report the 10-year Treasury yield seemed a little low given the level of economic growth.
The U.S. Federal Reserve last raised rates in December 2015, the first hike in nearly a decade. Traders generally expect the Fed to increase rates at its meeting this December, at the earliest.
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