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
U.S. and Chinese negotiators wrapped up a brief round of trade talks this week with no deal and only a plan to resume discussions in September. U.S. President Donald Trump, meanwhile, has repeatedly accused Beijing of dragging its feet in the negotiations, and upped the stakes on Thursday with a surprise increase in tariffs on Chinese goods.
Still, that may not be enough to spur action from Beijing.
"In terms of time frame, I would argue China has greater pain tolerance," said Eric Robertsen, head of global macro strategy at Standard Chartered Bank.
Indeed, Trump's "No. 1 priority" is to get reelected next year, and China is trying to wait out the American election cycle, said Robertsen, who is also Standard Chartered's global head of foreign-exchange, rates and credit research.
"China, very clearly, is trying to wait out the U.S. election cycle with the hope that maybe we get somebody different in the White House," he added.
On Thursday, Trump announced that the U.S. is placing 10% tariffs on another $300 billion worth of Chinese goods, effective Sept. 1. In May, the U.S. raised tariffs from 10% to to 25% on $200 billion of Chinese imports. Trump accused Chinese President Xi Jinping of not moving fast enough on making a deal happen.
Meanwhile, Beijing is likely to use fiscal rather than monetary stimulus to prop up its domestic economy, said Robertsen.
Notably, the People's Bank of China did not cut rates in the wake of the U.S. Federal Reserve's latest interest rate cut this week. Robertsen explained that move as likely demonstrating China wants a stable currency to attract capital to its onshore markets.
Historically, China has had a "credit impulse" when it wants to boost the economy, with real estate borrowing growing during such times. However, a top decision-making body of the ruling Communist Party said this week that China will step up efforts to boost demand and support the economy, but will not use the property market as a form of short-term stimulus.
—Reuters contributed to this report.