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 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 sectors this year, spiked 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
"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
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
A number of American companies could see their sales decline if trade relations between the United States and Mexico deteriorate as a result of the Trump administration's new tariffs.
CNBC screened the components of the S&P 500 by their respective revenue exposure to Mexico, revealing that Kansas City Southern, Union Pacific, PepsiCo and Nucor were among those with the highest proportion of sales. Those stocks were down 6.3%, 2.1%, 0.7% and 1.8%, respectively, on Friday.
President Donald Trump said Thursday night that he will impose a 5% tariff on all Mexican imports starting June 10 if Mexico doesn't take steps to secure its border with the United States, potentially undermining the recently negotiated deal between the U.S., Canada and Mexico.
Trump's Mexico tariffs also represent the White House's latest attempt to pressure an economic partner through the use of trade levies, a tactic Trump has relied on throughout his negotiations with China. The administration imposed 25% tariffs on $200 billion worth of Chinese imports earlier this month following a breakdown in talks between Beijing and Washington.
While the aforementioned companies could be in for pain based on the percentages of their total sales coming from Mexico, other American companies that produce or source input in the country also sold off on Friday.
GM and Fiat Chrysler import 29% and 24%, respectively, of the total parts for its cars and trucks from Mexico, according to a Deutsche Bank analysis. The firm added that Ford has the second highest total imported vehicles from Mexico at 17%, behind Fiat Chrysler.
Corona beer maker Constellation Brands, meanwhile, imports 75% of its beer portfolio from Mexico, according to Morgan Stanley. The brokerage added that the 5% tariffs on Mexican goods would shave off nearly 4% from the company's profits. Shares were down more than 6% on Friday.