Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Melania Trump said in a tweet that she is "excited to have Stephanie working for both sides of the @WhiteHouse."Politicsread more
Acting Customs and Border Protection Commissioner John Sanders will resign amid furor over the Trump administration's treatment of migrant children.Politicsread more
Investors are piling into gold, sending the precious metal to a six-year high, and analysts think the commodity has established a base to go even higher.Marketsread more
More than 300 companies are talking to government officials in Washington about the how detrimental the trade war is.Marketsread more
The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
Massachusetts Institute of Technology President L. Rafael Reif warned the MIT community of "serious long-term costs" to in an email to the school community Tuesday.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
The yield on the benchmark 10-year Treasury note fell below 2% on Tuesday as investors looked for safety following the release of much weaker-than-expected confidence data.Bondsread more
Trump slams Iran on Twitter for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
Oil prices could soon rally above $90 a barrel amid growing concerns over the prospect of steep declines in Iranian crude, according to industry analysts.
Brent crude was on track to post a fourth week of declines in five on Friday, with the global oil benchmark poised to slip more than 1 percent amid continued volatility in the energy market.
Investors are seen weighing bullish factors that include potential supply disruptions to Iranian crude exports against more bearish indicators, such as a ramp-up in production by OPEC and its allied partners.
"Venezuela's ticking time bomb together with the return of Iran's oil industry to the sanctions era has all the makings for a major supply shock," Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published Friday.
"The rising tide of global supply outages will offer a lifeline to those of a bullish disposition. (And) the potential for another price spike cannot therefore be discounted," he added.
Alongside Russia, OPEC kingpin Saudi Arabia and other members of the Middle-East dominated oil cartel agreed in late June to begin increasing production by up to 1 million barrels per day starting in August.
The decision has helped to put a lid on a price rally, with crude futures falling more than 7 percent since climbing above $80 a barrel in May.
The price jump earlier this summer had come about in large part because of President Donald Trump's decision to pull the U.S. out of an international agreement to curb Iran's nuclear program.
The Trump administration's move is widely expected to severely hinder the world's fifth-largest oil producer, with the re-imposition of economic sanctions set to take place over the coming weeks.
"The ongoing escalation of trade wars presents a major downside risk to oil demand. Yet, we remain much more concerned about the ongoing U.S. sanctions on Iran," analysts at Bank of America Merrill Lynch said in a research note published last week.
"Under different scenarios, Iranian supplies could drop as much as 0.8 million barrels per day. In turn, for every 1 million barrels per day imbalance, we see a price impact on Brent of around $17," they added.
On Friday, Brent crude traded around 0.1 percent lower at $73.44.