Energy stocks spiked while the rest of Wall Street fell on Monday after weekend attacks on Saudi Arabia’s oil facilities added to investors’ concerns about geopolitical risk and a slowing global economy.
U.S. Defense Secretary Mark Esper said on Monday the recent attack on Saudi Arabian oil facilities was “unprecedented” and the United States, along with its allies, was working to defend the “international rules-based order that is being undermined by Iran.”
Shares in Airbus and French luxury goods exporters fell on Monday as the European Union acknowledged it may face U.S. tariffs in a long-running dispute over aircraft subsidies, part of an escalating tit-for-tat trade row.
Possible U.S. tariffs against Airbus aircraft and European parts are unlikely to have a major impact on the European planemaker’s 2019 results, but disruption cannot be ruled out, its chief executive said.
U.S. Energy Secretary Rick Perry said on Monday it was too soon to say whether the United States would tap emergency oil reserves after attacks in Saudi Arabia halved the crude output in the world’s largest oil exporter.
Today’s chart imagines the world economy 11 years from now. And emerging markets (EMs) are the stars of the show.
A recent forecast from Standard Chartered, a multinational bank based in London, shows that several developing economies are on track to become the world’s largest economies by 2030. China and India lead the pack in the 2030 forecast with projected GDPs of $64.2 trillion and $46.3 trillion, respectively. The U.S. holds the third spot, followed by Indonesia ($10.1 trillion) Turkey ($9.1 trillion) and Brazil ($8.6 trillion).
This is a giant flashing neon sign that investors should get into EMs if they haven’t …read more […]
An attack on Saudi Arabia’s Aramco oil facilities was a reciprocal measure by “Yemeni people” to assaults on this country, said Iranian President Hassan Rouhani on Monday, hours after a Saudi-led coalition said the attacks were carried out with Iranian weapons.
An attack on Saudi Arabia that triggered the biggest jump in oil prices in almost 30 years was carried out with Iranian weapons, a Saudi-led coalition said on Monday, as President Donald Trump said the United States was “locked and loaded” to hit back.
The long-standing head of Italian infrastructure group Atlantia is ready to step down as a probe into a deadly bridge collapse snowballs, prompting its top shareholder, the Benetton family, to pull support, sources said on Monday. Giovanni Castellucci, who masterminded a multi-billion merger with Spanish rival Abertis last year, will hand in his resignation at an extraordinary board meeting on Tuesday, two sources close to the matter said.
Shares of U.S. energy companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia’s oil facilities gave new juice to a sector that has been a chronic underperformer.
The attacks on Saudi oil facilities on Saturday will drive up fuel prices worldwide in the world’s largest outage in 50 years. Here’s what it could mean for consumers.
The Department of Justice charged two current and one former JPMorgan Chase & Co executives on Monday with alleged racketeering and manipulating prices of metals such as gold, silver, platinum and palladium between 2008 and 2016.
It’s been less than a month since I warned investors about the vaping crisis.
In the days since, the number of vaping-related lung illness cases has erupted.
Currently, there are more than 450 cases of the respiratory illness across 33 states. Meanwhile, the number of potential related deaths has swelled to at least six.
This is particularly concerning because the first death caused by e-cigarette use was just reported in late August. So this situation has progressed rapidly.
Now, even though no specific e-cigarette has been named in all cases, all of the lung illness cases have involved e-cigarettes. Including some that use THC.
Needless …read more […]
U.S. stocks fell on Monday on global growth worries after weekend attacks on Saudi Arabia’s crude facilities hit 5% of the world’s supply, but a sharp surge in crude prices lifted beaten-down energy stocks and kept losses in check.
Oil prices jumped roughly 12% on Monday after an attack on Saudi Arabian crude oil facilities over the weekend sliced the kingdom’s production in half and intensified concerns of retaliatory actions in the Middle East.
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