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
"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
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
The Trump administration's tax reform bill is "fiscally irresponsible" and an assumption that growth will pay for the cuts is "delusional" — according to a top fixed income investment house.
"This is going to produce larger and larger deficits which will have to have to be made up at some point in the future," said Kapstream Capital Portfolio Manager Steve Goldman, who helps to oversee more than $11.8 billion dollars in funds under management.
"In the short run, it looks like this is going to add somewhere between 0.2 and 0.3 percent to annualized growth, so it's a good short-run story," Goldman told CNBC's "The Rundown."
But the investor is less optimistic on the long-term benefits.
"Republicans have normally been known as the fiscally responsible party. This isn't something that you would call fiscally responsible," he said.
The Senate GOP tax plan will increase the deficit by more than $1.4 trillion over a decade, according to analysis by the Congressional Budget Office. That includes money for additional debt service payments due to the bill.
"I think when you add a trillion dollars to a deficit that's grown and grown over the years, that is fiscally irresponsible. It's exactly what the Republican Party has rallied against for many, many years, so it's odd that they would pass a tax bill that adds a trillion dollars to the government deficit," said Goldman.
The reforms are partly aimed at boosting corporate profits and could lead to a wave of corporate share buy-backs. GOP lawmakers argue that economic growth will boost tax revenues over time, and growth alone could make up for the revenue gap.
"I don't think there is any credible economist or study that would show that growth will make up for the losses that we will see in the deficit. That would be delusional thinking," added Goldman.