Chinese officials are expected to be in Washington this week 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
Tesla said Tuesday it signed an agreement to build a factory in China to make its electric cars.
The news comes days after the automaker has had to raise prices 20 percent in China to respond to import tariffs.
Tesla said it expects construction to begin "in the near future, after we get all the necessary approvals and permits." From there, it will take about two years before Tesla can start making cars, and another two to three years before the factory is fully ramped up to its capacity of 500,000 cars.
Shares of the company climbed nearly 2 percent Tuesday morning.
“It is always interesting to see how the shares react," CFRA analyst Efraim Levy told CNBC. "A lot of times it seems news is good news for them.”
The pop in Tesla's share price is striking, he said, because the already cash-strapped Tesla just essentially made another financial commitment.
"Even though a Gigafactory in China has been anticipated, now they have an agreement to finance the building of it," he said. "That will put pressure on an already stressed balance sheet.”
Even prior to Tuesday's announcement many on Wall Street expected Tesla will need to raise capital sometime in the near future. Excluding its new commitments in China, Tesla will still have to raise $2 billion-$3 billion as an operational cushion some time around the first quarter of next year, Levy said.
On the other hand, China is on its way to becoming the world's largest market for electric vehicles, and Tesla stands to sell a lot of cars there, he said.
Here is a full statement from Tesla: