Moody's economist Mark Zandi highlighted U.S. recession risks amid higher energy prices.
The Federal Reserve will announce its March interest rate decision on Wednesday afternoon. It's likely the FOMC will hold rates steady, especially as the Iran war has sent oil markets into chaos.
Treasury Secretary Scott Bessent told CNBC on Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted.
Jeremy Siegel, professor emeritus of finance at University of Pennsylvania's Wharton School of Business and WisdomTree chief economist, joins 'Squawk Box' to discuss the state of the economy, what to expect from the Fed's two-day policy meeting this week, impact of the Iran war, interest rate outlook, and more.
Stephanie Link, Chief Investment Strategist at Hightower, John Mowrey, Chief Investment Officer at NFJ Investment Group, and Marc Short, Board Chair of Advancing American Freedom, discuss oil shocks, Fed policy and market opportunities.
The war in Iran and the effective closure of the Strait of Hormuz have turned a critical artery of the global oil system into a chokepoint, driving Brent crude to a high of $106 a barrel in on March 16. Goldman Sachs now expects Brent to average above 100 dollars this month and around 85 dollars in April, warning that a prolonged disruption could echo 2008 and briefly send prices toward 150 dollars in a worst‑case scenario.
The key port of Fujairah in the United Arab Emirates was hit again on Monday. The damage from the latest strike was being assessed, people familiar with the matter said.
Oil price volatility has reached levels not seen since the pandemic as markets grapple with the fallout from US and Israeli strikes on Iran, with equity investors increasingly caught in the slipstream. Implied volatility in oil options has climbed above 100% on a one-month basis, surpassing peaks reached during the Russia-Ukraine war in 2022 and approaching levels last seen during the pandemic lockdown panic, according to Deutsche Bank strategists.
Wall Street bets on a March end to the Iran conflict — but Tehran is playing for a November U.S. regime change.
Ahead of the bell Wall Street is pointing cautiously higher. S&P 500 futures are up 0.7%, Nasdaq contracts gain 0.8%, and Dow futures add 0.5%.
Since the Iran conflict erupted, oil has seen some of the most volatile price swings on record. Ben Boulos reports from the trading floor at Onyx Capital, breaking down how traders are positioning and where they see crude heading next.
The U.S. attacked Kharg Island while a UAE trading hub was hit by drones.