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Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
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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
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"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
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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
Despite JPMorgan Chase CEO Jamie Dimon's outspoken criticism on the viability of bitcoin as an investment, the bank is looking at allowing its clients to trade bitcoin futures, according to a Wall Street Journal report.
"J.P. Morgan is considering whether to provide its clients access to CME's new bitcoin product through its futures-brokerage unit," the report on Tuesday said citing a person familiar with the situation.
CME announced last month it plans to launch bitcoin futures in the fourth quarter, pending regulatory review.
Dimon has called the digital currency a "fraud" and on multiple occasions hinted that he believes it is a bubble that will crash.
"If you're stupid enough to buy it, you'll pay the price for it one day," Dimon said at a conference just last month.
The outspoken CEO does believe the technology backing bitcoin, blockchain, is valid and the bank is experimenting with uses of that code. However, given his past comments on the digital currency specifically, it's surprising JPMorgan would be moving forward with plans to allow clients to trade in it through the bank.
The price of bitcoin rose slightly to $8,250 Tuesday. It surpassed the $8,000 level for the first time Sunday, according to data from industry website CoinDesk. The digital currency is up more than 700 percent so far this year.
JPMorgan Chase did not immediately respond to a voice mail request for comment.