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
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
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
Cyclical companies that are too attached to the business cycle tend to be doomed when the broader economy slows.
That explains why Caterpillar came up short in its second-quarter report Wednesday, CNBC's Jim Cramer said, and why the stock dropped 4% during the session. The heavy machinery manufacturer took a hit from higher raw costs and supply.
"At the end of the day, Caterpillar turned out to be too beholden to the oil and gas cycle. Now, we know from Halliburton, which is cutting back its workforce in the Permian Basin, that drilling is deeply cyclical," the "Mad Money" host said.
"Still, I think it's a buy if it pulls back below $130 ... because I believe [CEO Jim Umpleby] can turn things around and make it so it's more of a secular grower, but now I only feel comfortable saying that because it looks like the Fed's going to cut interest rates."
It takes time, but other cyclical stocks like United Parcel Service, Union Pacific and Honeywell have been able to develop secular plays, Cramer noted. Secular businesses are not impacted by short-term economic trends.
The transports company, in particular, tapped into the secular e-commerce business, he said. UPS beat earnings and revenue estimates in its second quarter, and shares surged more than 8% in the session to close north of $114 a share.
"Wall Street always pays more for a secular grower than a cyclical one," Cramer said.
"Watch this process. When the cyclicals can pull it off, it's like the transformation from an ugly caterpillar into a beautiful butterfly," the host said. "And if they fail? Well, that's just plain old Caterpillar."
Disclosure: Cramer's charitable trust owns shares of Caterpillar and Honeywell.