Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread 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 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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
While other economic signs may be weakening, Americans are still confident about their job prospects.
A recent New York Federal Reserve consumer expectations survey showed that workers' confidence for finding a new job after losing their current position was at 61.5% in May — an increase from 59.3% in April and the highest since the central bank started keeping track in June 2013.
Moreover, the confidence rise was best in those with incomes less than $50,000, a key cohort as policymakers seek to bridge the wealth gap that blew open following the financial crisis.
Earnings growth expectations also rose, up one-tenth of a point to 2.5% and the mean probability of respondents leaving their jobs voluntarily over the next 12 months — another sign of worker confidence — rose to 21.2% from 20.3%.
The numbers came amid a cascade of conflicting data.
Manufacturing readings lately have been weak, and May's nonfarm payrolls count also was disappointing. Consumer spending, meanwhile, has gotten stronger, but the number of economists expecting a recession over the next year or so has continued to grow.
The Federal Reserve is wrestling with the crosscurrents as it prepares this week to signal where interest rates are heading.
"Historically, economists never see turning points. At turning points, you get conflicting data," said Joe LaVorgna, chief economist for the Americas at Natixis. "When the economy might be in a topping out process, it's not unusual for some [data] series to move south and other series to move north."
The policymaking Federal Open Market Committee is expected to keep rates steady at the two-day meeting that concludes Wednesday, but could signal future rate cuts. Markets expect a quarter-point rollback in July followed by another in September and possibly a third move as soon as December.
Low inflation is one reason the Fed may ease policy.
The New York Fed's consumer survey showed three-month inflation expectations at 2.6% and one-year out at 2.5%, both the lowest since late 2017. The bond market also is looking ahead to low inflation and a possible period of negative growth somewhere on the horizon, as shorter-dated government bond yields are now outpacing those at the longer end of the spectrum, a phenomenon known as an inverted yield curve that has been a reliable recession indicator.
"Markets as sending you a late-cycle message not just in the yield curve, but also if you look at what has led the rally in the stock market," LaVorgna said, citing the outperformance of defensive stocks.