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
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
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
The total value of all cryptocurrencies in the world will hit $1 trillion in 2018, the CEO of one of the world's largest digital wallet platforms told CNBC Monday.
There are over 1,300 cryptocurrencies in the world such as bitcoin and ether with the total market capitalization totaling over $587 billion, according to data from industry website Coinmarketcap.com. Market cap refers to the total value of all of the digital coins in circulation.
Peter Smith, CEO of Blockchain, which is a digital wallet provider to store cryptocurrencies, said this is likely to nearly double next year.
"I think that we'll see the total market cap of digital assets hit a trillion dollars in 2018. I don't know if it'll hold a trillion dollars but I think we'll see that milestone breached," Smith told CNBC in a TV interview Monday.
Bitcoin accounts for over 50 percent of the total cryptocurrency market cap. It is worth around $317 billion. Ether is the second-largest digital currency with a market cap of $68.9 billion. Both have had huge price rallies this year.
Some market players think bitcoin alone will be worth $1 trillion in the near future. Ronnie Moas, the founder of Standpoint Research, told CNBC on Monday that bitcoin could be valued as high as $400,000 per digital coin, with a market cap eventually reaching $1 trillion.
However, bitcoin has also received its fair share of criticism. JPMorgan Jamie Dimon famously called the cryptocurrency a "fraud" calling people who invest in it "stupid". And Deutsche Bank recently warned that a bitcoin crash could pose a risk to the broader financial market next year.