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
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
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
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread 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
As the market's conviction of a rate cut keeps growing firmer, another Wall Street bank came out defying the consensus.
UBS joined Goldman Sachs in warning that the market's expectation for a rate cut is not realistic because recent economic data have been "mixed," rather than weak, which don't warrant an easing of monetary policy anytime soon.
"Market expectations for 100 basis points of rate cuts by 2020 look exaggerated, in our view," Mark Haefele, UBS' global chief investment officer, said in a note on Wednesday. "While the Fed may eventually be forced to support growth, especially if the ongoing trade dispute with China inflicts lasting damage on capital spending and employment, we don't expect a rate cut soon."
The analyst cited unemployment rate "at a multi-decade low of 3.6%," "robust demand for workers" and high consumer confidence.
The market's rate-cut hope was sparked by recent remarks from the Federal Reserve chair Jerome Powell, who said the central bank will "act as appropriate to sustain the expansion." Traders believe the Fed will slash rates to compensate for the potential damage from the trade war, pricing in a nearly 80% chance of a rate cut in July and about 60% probability of three rate cuts this year, according to the CME FedWatch tool.
Goldman's chief economist Jan Hatzius said Monday that the Fed will keep the funds rate unchanged in 2019 as Powell's rhetoric is "not a strong hint of an upcoming cut."
— CNBC's Michael Bloom contributed to this report.