After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
See which stocks are posting big moves after the bell.Market Insiderread more
Saudi Arabia recently shelved plans to sell a 5 percent stake in state-owned energy giant Aramco, reportedly amid valuation and regulatory concerns. Nonetheless, the IPO remains critical to Crown Prince Mohammed bin Salman's ambitious plan to overhaul the kingdom's economy.
So far, Saudi Arabia's stock market — also known as Tadawul — is the only confirmed listing exchange for Aramco.
"I think the Saudi stock exchange will continue to develop its markets to be ready for Aramco and other issues," Khalid Al Hussan, who heads the exchange, told CNBC's "Street Signs" on Wednesday.
Saudi Arabia hopes to attract a $2 trillion valuation for Aramco — the world's largest oil company — though some external observers have pegged its value at half that amount.
Amin Nasser, CEO of Aramco, told CNBC earlier this year that his company was prepared for a public offering in the second half of 2018, but was waiting for the government to choose an exchange. Indecision over the listing venue is widely thought to have snarled the process.
Meanwhile, Saudi Arabia's stock exchange will introduce exchange-traded derivatives in the first half of 2019. On Tuesday, global index provider MSCI said it had reached a deal with Tadawul to jointly launch a tradeable index.
An exchange traded derivative is a financial instrument that trades on a regulated exchange and whose value is based on the value of another asset.
"The benefit is basically to offer more diversified products, specifically to institutional investors," Hussan said, before adding, "the inflow of capital depends on how attractive we are and that is basically why we are accelerating the derivatives."
The announcement of a tradeable index comes after MSCI officially classified Saudi Arabia's equity market as an emerging market in June. Riyadh's inclusion on the emerging market index is widely expected to attract billions of dollars of passive funds.
Saudi Arabia has launched a flurry of market reforms in recent years, as part of a broader effort to encourage direct investment into the kingdom from foreign institutions. The Middle-Eastern country has also eased restrictions on foreign ownership of companies.