Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread 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 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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
The cannabis industry is growing, which may mean bad news for the beer industry, said Vivien Azer of Cowen, an investment firm.
"We view the interaction with alcohol as being the most obvious to us as we think of these products as substitute social lubricants," Azer, managing director and senior research analyst at Cowen, told CNBC.
"Binge drinking rates, for instance, are significantly lower in states where adults have access to adult-use cannabis," Azer, who specializes in the beverage, tobacco and cannabis sectors, told "Fast Money." Friday is "4/20," or the unofficial holiday celebrating marijuana use.
But it's not just on April 20 when people are consuming cannabis. Pot stocks have soared in the last year. Shares of Aurora Cannabis, a Canadian producer of medical cannabis, are up nearly 240 percent in the last 12 months. Cronos Group is also up nearly 240 percent in the same period. And the stock of medical marijuana company Canopy Growth has gained more 200 percent in the last year.
The total U.S. cannabis industry is worth about $50 billion right now and will reach $75 billion by 2030, Azer said.
"It's just that a lot of it is going through the black market right now," she said.
The good news, she said, is that, "the industry is gaining a lot of traction in terms of gaining consumer support."
According to an October 2017 Gallup poll, 64 percent of U.S. adults are in favor of legalizing adult use cannabis — the highest level of support in five decades.
Azer said her firm remains bullish on cannabis and cautious on beer stocks, as she suspects the trend will continue.
"About 80 percent of consumers do report some kind of reduction in alcohol consumption when they're also engaging in cannabis consumption," Azer said.
The top cannabis stocks she expects to outperform are Canopy Growth, the pharmaceutical company MedReleaf and Kush Bottles, a medical wholesaler.