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
While the vast majority of market watchers expect the Federal Reserve to hike rates on Wednesday, all eyes will be tuned to the stock market's reaction to the decision and the central bank's forecast for future rate increases.
The last time the Fed raised short-term interest rates, stocks rallied. On Dec. 16, 2015, when the Fed boosted rates by 0.25 percent, the S&P 500 rose 1.45 percent, while the Dow Jones industrial average climbed 1.28 percent. The enthusiasm was short-lived, however, and the S&P sank more than 11 percent by mid-February.
The 2015 rate hike marked the first time in more than nine years that the Fed decided to boost the range for its key rate, which currently stands at 0.25 percent to 0.50 percent. Before that, the Fed last raised rates in June 2006. Markets also rewarded the news then, with the S&P jumping 2.2 percent and the Dow rising 2 percent, as the Fed strongly hinted that its long string of 17 rate hikes could be coming to a close.
Markets surged even higher when the Fed first embarked on its zero-bound policy on Dec. 16, 2008, in response to the financial crisis. That day, the S&P 500 spiked 5 percent and the Dow jumped 4.2 percent. The Fed would go on to maintain this low rate policy for the next seven years as the U.S. struggled to recover from the Great Recession and regain its economic footing.
The Fed will release its decision at 2 p.m. ET, with the markets widely pricing in another quarter percentage point increase. To see the latest market reaction to the decision, check back here.