A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Gold prices settled nearly 2 percent lower on Wednesday as investors took profits from a run-up spurred by geopolitical concerns after Russian President Vladimir Putin urged Ukrainian separatists to postpone a referendum and said he was pulling troops back from their common border.
Putin called on pro-Moscow separatists in Ukraine to postpone a vote on secession just five days before it was to be held, potentially pulling Ukraine back from the brink of dismemberment. He also announced he was pulling Russian troops back from the Ukrainian border.
However, the White House said it has seen no evidence that Putin has pulled Russian troops back from the Ukrainian border, and said it wants a referendum on secession to be cancelled, not merely postponed.
for June delivery ended 1.5 percent lower at $1,288.90 an ounce, with trading above its 30-day average, preliminary Reuters data showed.
Spot gold was last down 1.3 percent at $1,299 an ounce, on track for its biggest one-day drop in three weeks.
The dollar turned higher after Federal Reserve Chair Janet Yellen said in congressional testimony the U.S. economy was still needed lots of support given the "considerable slack" in the labor market even as she said "a high degree of monetary accommodation remains warranted."
"There are still some questions out there about the Ukraine situation, and whether the Fed will increase interest rates or leave them here, so all of these uncertainties are weighing down on gold," said Thomas Capalbo, precious metals trader at brokerage Newedge.
In the past three days, gold has risen as much as 3.5 percent to a high of $1,314.70 earlier Wednesday as fears that a stand-off between pro-Russian separatists and government troops in Ukraine could bring the country to war.
The metal also came under pressure after Yellen's comments affirmed a view that the Fed will end its asset purchases this fall as expected.
For more information on precious metals, please click here.