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
Shares of Heritage Insurance rallied over 21 percent higher on Monday after initial reports from Florida revealed less damage from Hurricane Irma than anticipated.
The Clearwater, Florida-based insurer led a pack of local, small industry stocks higher earlier in the day, including moves 12 percent or more upward by shares of HCI Group based in Tampa, Universal Insurance in Fort Lauderdale, Federated National in Sunrise and Blue Capital Reinsurance in Pembroke, Bermuda.
"Hurricane Irma was tough, but it looks like it wasn't as bad as some expected," said Randy Frederick, vice president of trading and derivatives at Charles Schwab. "Towards the close on Friday, you saw a bit of a sell-off as ... people braced for the worst."
Shares of reinsurers surged, as the companies could have been on the hook if damage to Florida were severe. Hamilton, Bermuda-based Aspen Insurance rose 9.4 percent, and Everest Re rose 4.3 percent on Monday. The Standard & Poor's 500 closed 1.08 percent higher for the day, at 2488.11, a record.
"We think Hurricane Irma could be a top 5 most costly hurricane in the U.S, although the losses could be in-line-to-lower than market expectations," JPMorgan analyst Sarah DeWitt wrote in a note to clients Monday.
DeWitt forecasts the combined losses for the insurance industry in the third quarter for hurricanes Irma and Harvey will be in the $35 billion to $80 billion range, which actually bodes well for the sector's share prices.
"Our sense is losses could be at the lower end of the range as the storm weakened faster than expected," DeWitt wrote.
Stock prices of home insurers tied to Florida plunged Tuesday after Irma strengthened into a Category 5 storm. Investors feared historic damage with Irma charting a possible path towards Florida's east coast as the strongest hurricane on record in the Atlantic basin.
National insurance giants Progressive and Travelers saw shares closed up 2.2 percent and 2.3 percent, respectively, on Monday.