The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
Gold settled modestly lower on Monday, retreating from the 10-week highs it hit overnight on the back of weakness in global stocks, as traders cashed in gains in the metal ahead of a key Federal Reserve meeting this week.
Expectations that the Fed could trim monetary stimulus further from the $10 billion-a-month reduction to its bond-buying program late last year served to lift the dollar, while safe-haven currencies such as the yen were in demand as a sell off in emerging markets continued.
Spot gold was last at $1,260 an ounce, off 0.7 percent, having hit its highest since mid-November overnight at $1,278.01 an ounce. U.S. gold futures for February delivery settled 90 cents lower at $1,263.40 an ounce.
The metal is struggling to maintain last week's gains ahead of the Fed's two-day policy meeting, which starts on Tuesday.
"There is opportunistic selling and some profit-taking'' ahead of the Fed meeting, VTB Capital analyst Andrey Kryuchenkov said.
"I don't expect much upside from here, and prefer a small-scale correction as Asian flows slow ahead of the Lunar New Year.''
(Read more: Gold's 'safety' bid may be capped around $1,300)
A 2.3 percent drop in world stocks last week helped to push gold higher for a fifth straight week—its longest run of weekly gains since mid-2012.
Stock markets fell further on Monday as concerns about China's economic slowdown and its shadow banking sector, coupled with expectations the Fed would scale back its bond buying, piled pressure on emerging markets dependent on external financing.
In the longer term, any recovery in equities would be likely to curb gains in the precious metal, Mitsubishi analyst Jonathan Butler said.
"This setback in the equities market and this risk-off mentality overall isn't going to endure in the medium term,'' he said. "Once we see more positive U.S. data and positive earnings, that will weigh on gold once again.''
(Read more: China becomes top gold consumer in 2013)
"It seems a breakout to the $1,300-$1,330 mark is on hold for now, but it depends on what happens with the Fed this week,'' Butler added.
China's net gold imports from Hong Kong rose 24 percent in December from the previous month, the Hong Kong Census and Statistics Department said on Monday, bringing purchases for 2013 to a record 1,158 tons.
Net gold flows into China, the world's biggest gold consumer, climbed to 94.847 tons in December from 76.393 tons in November, it said.