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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
Nvidia's new graphics chips are finally here after a two-year wait.
The chipmaker on Monday unveiled its eighth-generation Turing graphics architecture at a conference in Vancouver.
"Turing is NVIDIA's most important innovation in computer graphics in more than a decade," Nvidia CEO and founder Jensen Huang said at the SIGGRAPH conference, according to a company release. "Hybrid rendering will change the industry, opening up amazing possibilities that enhance our lives with more beautiful designs, richer entertainment and more interactive experiences. The arrival of real-time ray tracing is the Holy Grail of our industry."
Nvidia shares closed up 2.1 percent Tuesday. Its stock was up 32 percent this year through Monday versus the S&P 500's 6 percent gain.
One Wall Street analyst is optimistic the new chips will drive the company's sales later this year.
"NVIDIA launched the Quadro RTX line of workstation cards, featuring the new Turing GPU core. Compared to Pascal, Turing is 1.7x larger in terms of size / transistors," Raymond James analyst Chris Caso said in a note to clients entitled "Utterly Awesome — NVDA Announces Turing GPU" Monday. "While GeForce gaming cards were not launched Monday night, we do expect gaming cards featuring Turing to be launched shortly. … We expect the new gaming product cycle to be a catalyst for NVIDIA's stock in 2H18."
Caso reiterated his outperform rating and $300 price target for Nvidia shares, representing 17 percent upside to Monday's close.
Earlier this week, Cowen noted that Nvidia's gaming business sales rose by 46 percent in the year after it launched the last big chip, Pascal, in May 2016.
Nvidia said Quadro professional workstation graphics cards with Turing technology will be available in the fourth quarter.
The company is slated to deliver its July quarter earnings report Thursday.