An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
An interest rate reduction by the Federal Reserve, if it were to happen, probably wouldn't lead to a big increase in stocks, the chief U.S. equity strategist at Goldman Sachs told CNBC on Tuesday.
"A lot of that rise in the market, in my estimation, is already behind us," said Goldman's David Kostin in a "Squawk on the Street" interview. "Ninety percent of that rally has been about multiple expansion."
With the market expecting a Fed rate cut later this month, actually getting one won't do much, he predicted. "What new, incremental information are we going to get to push the market higher? The answer is, not a lot."
"If there was to be a shift from that direction, there'd have to be a lot of jawboning and speechmaking in the next several weeks" before the two-day Fed meeting July 30-31, he added.
In the meantime, investors will be looking for clues on rates and the economy this week when Fed Chairman Jerome Powell appears before a House committee Wednesday and a Senate panel Thursday.
Kostin said Goldman is currently projecting two rate cuts this year due to the Fed's reluctance to go against market expectations.
Against that backdrop, Kostin is sticking with his price target of 3,000 for the S&P 500 by year-end, putting Goldman near the middle of expectations from the Wall Street analysts followed by the CNBC Market Strategist Survey.
While tracking for its third negative session in row Tuesday, the S&P 500 remains less than 1% below last week's all-time record highs and up about 18% in for all of 2019. The index just capped off its best first half of a year since 1997.
If the U.S. were to reach a trade deal with China, that could boost markets, Kostin acknowledged. But he added Goldman does not expect an agreement in the near future.