Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
Gold settled higher on Wednesday as palladium prices hovered near their highest level since early 2001, benefiting from a five-month strike in South Africa and strong demand from the auto sector.
Palladium has risen 20 percent so far this year, underpinned by supply worries after a South African strike over wages took out 40 percent of global platinum output and hit the domestic economy. The country is the world's second-biggest producer of palladium.
A fresh round of wage settlement talks between the main mine workers' union and major platinum producers broke down on Monday, when the metal rose 1.7 percent.
It touched a peak of $862.50 an ounce on Wednesday, its highest level since Feb. 2001. Prices rose 0.6 percent to $857 an ounce.
U.S. gold futures for August delivery settled $1.10 higher at $1,261.20 an ounce, logging its third straight daily gain.
Spot gold, meanwhile, was flat at $1,261 an ounce, holding above a four-month low of $1,240.61 hit last week and benefiting from struggling equity markets and a slightly weaker dollar.
"Around these levels, we can say demand seems to be slowing down a little bit. On the investment side, I don't think people are aggressive," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.
"Sentiment is slightly bearish. We've got to see whether the downside at $1,200 is a good point to buy. On the upside, $1,275 to $1,280 is not easy to break through," Leung said.
Stocks slipped from near recent highs on Wednesday, while the euro retreated towards a four-month low in the wake of upbeat U.S. economic data and the European Central Bank's monetary easing.
The dollar was down 0.1 percent against a basket of main currencies. A weaker U.S. currency makes dollar-denominated assets such as gold cheaper for foreign investors.
--By Reuters. For more information on precious metals, please click here.