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
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
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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
As trade tensions escalate, market watchers remain on edge.
"What we do know now is President Trump is dead serious about protectionism and tariffs," Michael LaBella, equity strategist at QS Investors, told CNBC. "This is not going to be a political sideshow."
On Tuesday, President Donald Trump's administration released a list of more tariffs — this time a 10 percent tariff on as much as $200 billion worth of Chinese goods. The latest round of levies faces a review process, with hearings taking place in August.
The announcement came just days after the U.S. imposed on China. Beijing retaliated with tariffs of its own.
"Bringing in an additional $200 billion in potential tariffs can quickly escalate to over a trillion dollars of trade-related tariffs that hit ... China, the U.S. and European Union," LaBella said Wednesday on "Power Lunch." "This is a major issue that the market, up until today, has been completely neglecting."
All three major indices fell during Wednesday's trading session, ending a four-day winning streak for the Dow.
But Jack Ablin, founding partner and chief investment officer of Cresset Wealth Advisors, said the good news is that the market movement on Wall Street is relatively small.
"I would call what we’re in ... a stealth correction, which is probably one of the best corrections we could possibly have, where we just tread water sideways and let fundamentals catch up," he said on "Power Lunch" Wednesday.
"It might be a Kabuki dance, where you get all the parties engaged and then all of the sudden, you get negotiations and things get resolved," Anthony Chan, chief economist at Chase, said Wednesday on "Closing Bell." "If you look at the market, if you look at the S&P 500, it’s still up [year to date]."
Chan pointed to a tight labor market and strong economic growth as indicators of a healthy economy and predicted a profit growth of 22 percent during the next earnings cycle.
"So clearly investors are not completely unfazed or completely unnerved by this situation, because really, they’re still paying attention to the fundamentals," Chan said.