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
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
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread 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
New applications for U.S. unemployment benefits fell last week, indicating continued job growth after a slowdown in March.
Initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 232,000 for the week ended April 14, the Labor Department said on Thursday. Data for the prior week was unrevised.
Economists polled by Reuters had forecast claims falling to 230,000 in the latest week.
The economy created 103,000 jobs in March, the fewest in six months. Economists largely dismissed the slowdown as payback after strong gains in February. They also blamed cooler temperatures for the moderation in hiring.
The labor market is considered to be near or at full employment. The unemployment rate is at a 17-year low of 4.1 percent, not far from the Federal Reserve's forecast of 3.8 percent by the end of this year.
The Fed's "Beige Book" report on Wednesday indicated that businesses remain upbeat about the economy, with tight labor markets and strong borrowing seen as a sign that economic growth is likely to continue.
The document, a compendium of opinions about the economy gathered from business contacts throughout the Fed's 12 regional districts, highlighted growing labor shortages across high-skilled occupations and in the construction and transportation sectors.
The Fed raised interest rates last month and forecast at least two more rate hikes for this year.
The Labor Department said on Thursday that the claims data for Maine and Colorado were estimated, while claims-taking procedures in Puerto Rico and the Virgin Islands had still not returned to normal after being devastated by Hurricanes Irma and Maria last year.
The four-week moving average of initial claims, viewed as a better measure of labor market trends as it irons out week-to-week volatility, increased 1,250 to 231,250 last week, from an unrevised 230,000 in the previous week.
The claims report also showed the number of people receiving benefits after an initial week of aid fell 15,000 to 1.86 million in the week ended April 7. The four-week moving average of the so-called continuing claims rose 6,750 to 1.86 million.