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
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
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
Many firms are already making the move to other countries, with Vietnam as one of the major beneficiaries of tensions between the world's two largest economies.
However, if talks were to prove unsuccessful the White House has threatened to place 25% tariffs on an additional $300 billion worth of Chinese goods, essentially all remaining imports into the U.S. from China.
Some companies, such as Brooks Running — which is part of Warren Buffett's Berkshire Hathaway — are not waiting to see if the additional China tariffs will go into effect. CEO Jim Weber said back in May that Brooks would be "predominantly in Vietnam by the end of the year." He also said about 8,000 jobs will move there from China.
Such relocation plans raise the question of whether Vietnam can become the new China. CNBC's Carl Quintanilla reports from Hanoi, ahead of the Trump-Xi meeting, with a look at Vietnam's manufacturing boom and whether it can be sustained.
Vietnamese firms are starting to grow to try to accommodate the influx of companies, mostly apparel and shoe makers.
Textile firm TNG Investment & Trading told Quintanilla that it's never seen an expansion like this before. Last year, the firm hired 3,000 employees, bringing its total to 15,000.
TNG's Linh Nguyen said it had to build an apartment complex just to accommodate the additional employees. "In order to grow the business, it's more important for us to build a home for the people than actually building a factory."
The demand for technical skills is growing in Vietnam, and the Vietnamese government has a goal of training 2 million people in vocational schools.
More than 90% of students trained in technical skills, such as welding or making electronics, can get hired, said professor Nguyen Quang Huy. He told CNBC that it's "very easy to get a job, and a lot of companies need more people."
However, Vietnam still lacks much of the infrastructure that has enabled China to become a manufacturing epicenter.
Ramping up the ability to transfer goods from Vietnamese factories to ports will be key. Across the country, railroad lines are sparse compared with China's, highways are smaller, and it's still an agrarian economy largely focused on rice.
Vietnam is building a deep-water port that can make transfers easier, but that won't open for another three years.