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 sector this year, spiked on 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
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 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
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
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
President Donald Trump's pick for the next Federal Reserve chairman says he wants to support a "strong jobs market" and "full" economic recovery.
"If confirmed, I would strive, along with my colleagues, to support the economy's continued progress toward full recovery," Jerome Powell, Federal Reserve Board governor, says in prepared remarks for scheduled Tuesday testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs. Trump nominated Powell for Fed chair on Nov. 2.
"Our aim is to sustain a strong jobs market with inflation moving gradually up toward our target. We expect interest rates to rise somewhat further and the size of our balance sheet to gradually shrink," Powell said. He added the Fed "must retain the flexibility to adjust our policies in response to economic developments."
Powell's prepared remarks echoed the policy goals — focus on jobs and inflation — of the current Fed chair, Janet Yellen. Her term ends in February.
Powell is also set to take questions from the Senate committee Tuesday.