Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
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
The S&P 500 will start excluding companies that issue multiple classes of shares, managers of the index said on Monday, a move that effectively bars Snap after its decision to offer stock with no voting rights.
The decision takes effect starting Tuesday, according to a statement by the manager of the widely used benchmark, S&P Dow Jones Indices.
Snap did not immediately respond to a request for comment.
"Companies with multiple share class structures tend to have corporate governance structures that treat different shareholder classes unequally with respect to voting rights and other governance issues," the index provider said in a statement.
The S&P changes, which extend to the S&P MidCap 400 and S&P SmallCap 600 indexes, reflect a toughening stance by index firms and the investors they represent who increasingly emphasize the importance of corporate governance rights.
That often runs up against the interest of leaders of high-growth, often technology companies that resist coming to public markets and offering full voting rights out of fear they will lose control of their companies.
Snap's $3.4 billion March IPO was the third-largest ever for a U.S. tech company but some investors were taken aback by the company's unusual decision to offer new investors a class of common stock with no voting rights.
Snap shares had their busiest trading day in two and a half months in a volatile session on Monday, as early investors could sell their shares for the first time since its market debut. The stock pared losses to close down 1 percent at $13.67, after falling as much as 5.1 percent and hitting a record low.
FTSE Russell said last week it planned to exclude Snap from its stock indexes.
Inclusion in a stock index has been an important milestone for young companies, bringing their shares into many passive funds and others that closely follow indexes like the S&P 500, a guide for trillions of dollars of capital worldwide.
The decision likely means that funds like $243 billion SPDR S&P 500 ETF will not buy Snap anytime soon.