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
Better-than-expected quarterly earnings and revenue at Lowe's on Wednesday could be a turning point for the home improvement company that has lived for years in the shadow of Home Depot, according to Oppenheimer retail analyst Brian Nagel.
As the stock soared before Wednesday's opening bell, Nagel said he sees "big turnaround potential" for a company and a stock, which have "lagged for years." Shares of Lowe's were up 10% early Wednesday afternoon, trading about $107.
In a "dream the dream scenario," Nagel calculated that Lowe's stock could see $180 per share. That would represent an almost 84% increase from where it closed Tuesday at about $98 per share.
"If I model this out, there's more than $10 in earnings-per-share at Lowe's. You put an 18 [times] multiple on that," Nagel said on CNBC's "Squawk Box." However, he said his official price target for Lowe's is $135 per share.
Nagel credited retail veteran Marvin Ellison, who left J.C. Penney 13 months ago to become Lowe's CEO, for the encouraging numbers. Ellison also spent decades in executive roles at Home Depot and Target.
"It seems under the guidance of the new CEO, Lowe's is getting its act together — and frankly, if we're right here and this continues, this stock has a long way to run," Nagel said.
However, he said investors don't have to choose between Lowe's and Home Depot.
"Home Depot [is] a very quality company; under-valued stock even with yesterday's bounce. Lowe's [is a] turnaround opportunity," he said. "Two different types of investment vehicles, but I don't think you'd be hurt owning them both here."
Home Depot shares surged 4.4% on Tuesday after the company beat estimates with second-quarter earnings.
However, revenue did fall short of expectations, and the company lowered its sales outlook for the year on concerns about the U.S.-China trade war slowing consumer spending.