An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread 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
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
U.S. Energy Secretary Rick Perry spoke to CNBC following drone strikes on Saudi Arabia's oil processing facilities.Oilread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Justice Kavanaugh from when he was a Yale University student, noting that "the female student...Politicsread more
Stocks rose on Wednesday as higher interest rates drove gains in the banking sector. Sentiment on Wall Street was also boosted as investors bet that a trade war between the U.S. and China will not be as bad as previously feared.
The Dow Jones Industrial Average closed up 158.80 points to finish at 26,405.76 with Goldman Sachs as the best-performing stock in the index. The advanced 0.13 percent to end at 2,907.95 as financials jumped nearly 2 percent. The Nasdaq Composite slipped 0.08 percent, however, as Amazon, Netflix and Apple all fell.
The tech-heavy index closed at 7,950.04.
Bank shares rose as the 10-year Treasury note yield marched upward to 3.09 percent, its highest level since May. Goldman Sachs, Morgan Stanley and Bank of America all rose more than 2.5 percent. Shares of Citigroup, meanwhile, advanced 3.3 percent.
Equities also gained as a new round of levies against U.S. and Chinese products was not as bad as forecasts indicated.
China slapped retaliatory tariffs on $60 billion worth of U.S. goods on Tuesday after the Trump administration imposed levies on about $200 billion worth of Chinese products. However, China will put a 10 percent tariff on some goods it had previously earmarked for a 20 percent levy.
On Wednesday, Chinese Premier Li Keqiang said China was facing "greater difficulties" in keeping its economy stable. He also said: "Deeply integrated into the world economy, the Chinese economy is inevitably affected by notable changes in the global economic and trade context."
Li added, however, the Chinese have "sufficient tools" to manage these difficulties.
Fears of a full-blown trade war between the world's two largest economies are thorn for investors this year as tighter trade conditions could hurt corporate profits. These concerns have led to a volatile ride for investors this year.
Still, the S&P 500 is up more than 8.5 percent in 2018 and is less than 1 percent removed from a record.
"Trade tariffs will remain a major concern not only to corporations but to market participants and especially to those professional investors who have never experienced a trade war outside of what they learned in college," said Robert Pavlik, chief investment strategist at SlateStone Wealth.
Pavlik added that while President Donald Trump's approach to trade policy is unconventional, "the U.S. economy is strong, earnings are healthy and confidence among consumers and investors remains high."
Boeing shares rose 0.5 percent while Caterpillar climbed 2.5 percent. Both companies are seen as bellwethers for global trade given their large exposure to overseas markets.
Asian stocks rose overnight, led by gains in Chinese and Japanese shares. Both the Shanghai Composite and Nikkei 225 rose 1.1 percent.
"Markets continue to ignore rising trade tensions, essentially hanging their hat on a 'Trump Tariff Put,'" said Nicholas Colas, co-founder of DataTrek Research. "If stocks begin to worry that the President's policies truly endanger economic and corporate profit growth and sell off, the administration will recalibrate."