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
U.S. equities closed mixed on Thursday as investors repositioned their portfolios following the presidential election.
The Dow Jones industrial average hit a new all-time intraday of 18,873.6, and closed more than 200 points higher, with IBM and Goldman Sachs contributing the most gains to the tune of 34 points and 52 points, respectively.
"Equities are adjusting to change and uncertainty with a Trump presidency," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "There still needs to be more clarity and that's going to impact equity prices."
The Nasdaq composite underperformed, erasing earlier gains and briefly falling 2 percent as the iShares Nasdaq Biotechnology ETF (IBB) pared initial gains while the so-called FANG stocks (Facebook, Amazon, Netflix and Alphabet) fell. The index closed around 0.8 percent lower.
"These are expensive stocks that don't like higher interest rates. These have been the leaders and the leaders are getting whacked," said Peter Boockvar, chief market analyst at The Lindsey Group. He said that FANG stocks "don't like higher interest rates because higher interest rates exposes things that are overvalued."
The S&P 500 gyrated between gains and losses, closing about 0.2 percent higher, with financials rising 3.7 percent to lead advancers. Bank stocks rose, with the SPDR S&P Bank ETF (KBE) holding about 4 percent higher after hitting its highest level since September 2008.
Donald Trump's victory over Democrat Hillary Clinton sent shock waves through global financial markets, with Dow futures falling more than 800 points as election results kept coming in. But Wednesday's cash session saw a 1 percent rally, as investors and traders unwound several trades associated with a Clinton victory, particularly within the financials and health care sectors.
"There are three things you need to contemplate. First, the lessons learned from Brexit," said Art Hogan, chief market strategist at Wunderlich Securities. "We know what happens in a Brexit-like sell-off. You get a knee-jerk reaction to the downside and then we move higher very quickly; we just sped up the process on that."
"Second, it's the fact that we got conciliatory speeches from both candidates," he said. "Third, you have the potential for growth policies to be put forward" with Republicans controlling the White House and Congress.
Investors were also on the lookout for any updates on who would compose Trump's cabinet. Earlier on Thursday, CNBC reported that Trump's advisers have floated the idea of naming Jamie Dimon as Treasury secretary, according to two people familiar with the matter.
U.S. Treasury yields continued their assent as well, with the two-year note yield around 0.92 percent and the benchmark 10-year yield at 2.14 percent.
The dollar index, which measures the U.S. currency's performance against a basket of currencies, rose 0.31 percent Thursday, with the euro near $1.089 percent. The safe-haven fell more than 1 percent versus the greenback, trading around 106.80.
Lukman Otunuga, research analyst at FXTM, said the dollar's "resurgence was also complimented by the renewed speculations of the Federal Reserve raising US interest rates in December that encouraged buyers to attack. This week's aggressive dollar rebound may be fully Trump driven with more time needed for the Greenback to find some normality."
Market expectations for a Fed rate hike in December were around 76.3 percent Thursday afternoon, according to the CME Group's FedWatch tool.
Overseas, Mexican and Brazilian equities fell sharply Thursday, along with most emerging markets. The iShares MSCI Mexico Capped ETF (EWW) and the Brazil Capped ETF (EWZ) fell more than 8 percent and 7.9 percent, respectively, while the broader iShares MSCI Emerging Markets ETF (EEM) slipping more than 2.5 percent.
"What's happening here is the Fed is still expected to move this year and yields and the dollar are moving higher," said Peter Cardillo, chief market economist at First Standard Financial.
On the data front, weekly jobless claims totaled 254,000, below the expected 260,000. Meanwhile, St. Louis Fed President James Bullard said the central bank is still due for a single rate hike and then hold.
The gained 4.22 points, or 0.2 percent, to end at 2,167.48, with finanicals leading six sectors higher and consumer staples lagging.
The Nasdaq composite fell 42.28 points, or 0.81 percent, to 5,208.80.
The Dow Transports rose 1.9 percent, hitting a more than one-year high, led by Avis Budget Group, which rose 5.48 percent.
Decliners were a step ahead of advancers at the New York Stock Exchange, with an exchange volume of 1.423 billion and a composite volume of 6.344 billion at the close.
fell 1.35 percent, or 61 cents, to settle at $44.66 per barrel. fell $7.10 to settle at $1,266.40 per ounce.
On tap this week:
2:00 p.m. Federal budget
Bond market closed, stock market normal hours
Earnings: Allianz, JC Penney, Brookfield Asset Management
10:00 a.m. Consumer sentiment