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
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread 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
Stocks rose on Wednesday as investors cheered strong quarterly earnings from major banks like Goldman Sachs and Bank of America.
The Dow Jones Industrial Average rose 141.57 points to 24,207.16 as Goldman Sachs outperformed. The gained 0.2 percent to close at 2,616.10, led by a 2.2 percent gain in financials. The Nasdaq Composite climbed 0.15 percent to 7,034.69.
Goldman Sachs posted blowout quarterly earnings, sending the stock up 9.54 percent, its biggest one-day gain since 2009. Bank of America also rose 7.16 percent after reporting a record quarterly profit. The reports follow the releases of fourth-quarter results from Citigroup, J.P. Morgan Chase and Wells Fargo earlier this week. Morgan Stanley, another major bank, is scheduled to report on Thursday.
"Overall, Goldman had a good quarter," said Ken Leon, an analyst at CFRA Research. Also, "we did not see a multibillion dollar reserve for Malaysia," he added referring to the 1MDB scandal.
"For Bank of America, they performed well in their traditional banking areas," said Leon. "We did see better-than-peers deposit and loan growth. There was also healthy growth in consumer banking." Leon added Bank of America also had "more balanced and positive view than the other banks."
Separately, United Continental surged more than 6 percent after the company posted better-than expected earnings on Tuesday.
More than 6 percent of S&P 500 companies have reported calendar fourth-quarter earnings, according to FactSet. Of those companies, 85.3 percent have reported better-than-expected earnings.
However, strong earnings growth will be hard to find moving forward, according to Nick Raich, CEO of The Earnings Scout. "While stocks are in rally mode, S&P 500 EPS growth expectations are continuing to fall," Raich said in a note to clients. "Negative earnings momentum is a powerful force though investors should not become complacent."
The moves Wednesday follow solid gains in the previous session. The Dow closed more than 100 points higher on Tuesday as tech shares outperformed.
Equities have bounced back sharply this year after suffering massive losses to near the end of 2018. The major indexes were up at least 3.16 percent year to date. Since Dec. 24, they have all gained at least 8.8 percent. Stocks sold off towards the end of last year in part because of fear that the global economy was slowing down.
"In 2018, the U.S. recovery was on a path toward recession. It couldn't last much longer growing above 3% in real terms and 5.5% in nominal terms, with an unemployment rate below 4%," said Jim Paulsen, chief investment strategist at The Leuthold Group, in a note. "The challenge was to stay appropriately cautious in the face of good news. This year, investment success may require remaining fairly bullish in the face of bad news."
Nordstrom shares fell more than 4.5 percent after the company said sales at some stores were "below expectations" during the holiday season. Meanwhile, Snap dropped more than 13 percent on news the company's CFO was resigning.
—CNBC's Ryan Browne contributed to this report.