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
CNBC's Jim Cramer wants the Federal Reserve to reconsider its decision to steadily increase interest rates despite concrete signs of inflation because of the turbulence it's causing financial markets.
"I don't like what's happening at the Fed because the Fed has decided, like [Fed Chair] Ben Bernanke in 2005, 'we've got to put a stop to this' – even as they knew absolutely nothing in 2007," Cramer said Wednesday on "Power Lunch."
Cramer famously vented his frustration in 2007 about Fed members ignoring signs of the upcoming financial crisis.
Last week, Fed Chair Jerome Powell characterized monetary policy as a "long way" from neutral, which signaled a possibly more aggressive path for rate hikes. Those remarks sent bond yields soaring, which in turn sent stocks lower.
Right now, rates are still relatively low, the "Mad Money" host said.
However, "any bit higher and we're starting to see the different shocks in the system," he added. "What you really want is a Fed that says, 'wow you know what this may be a little too fast, too much.'"
That said, he doesn't think 2018 is as bad as 2007 because it is very easy for Powell to "take it back."
And if rates go up slowly and deliberately, that will allow stocks to go up, he added.
Cramer thinks Powell should take a page from his predecessor, Janet Yellen.
"I really miss Janet Yellen. I miss her because what she would do is say, 'you know I need more inputs. I'll look at the market, it's down 500 points. Maybe we should make some calls,'" he said.
"She was a student. She wasn't a teacher. She was a student and she learned from people," he said.
However, while people now want to sell, Cramer thinks long term it is "crazy" to do so. In fact, he thinks as the market goes down, there may be some good bargains.
"I think it would be tragic if people just said, 'you know what, get out now.'"