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
Commodity currencies extended recent losses, with the Australian dollar setting a four-year low of $0.8223 and the Canadian dollar hitting a five-year trough of C$1.1501 versus its U.S. counterpart as Brent sank below $66 per barrel.
Dennis Lockhart, head of the Atlanta Federal Reserve, said late on Monday that he was in no rush to drop the Fed's pledge to keep interest rates near zero for a "considerable time", while San Francisco Fed chief John Williams said the phrase was still appropriate.
Against the traditionally safe-haven yen, the greenback slid 0.8 percent to 119.78 yen, pulling further away from a seven-year high of 121.86 yen set on Monday. The Japanese currency also rose versus the euro, which shed 0.5 percent to around 147.93 yen.
"Currency markets are trading in a risk-off sentiment," said Neil Jones, head of FX hedge fund sales at Mizuho bank in London, adding that investors were booking profits on the dollar into the year-end after its strong performance in recent months.
"People are cutting the higher yielding currencies which they've been funding through being short yen and that position is being reversed somewhat, which is manifesting itself in a much lower dollar/yen."
The U.S. dollar may retreat further versus the yen in the near term due to the potential for more position squaring in the wake of its recent rally, said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo.
"The size of volatility in the dollar's moves versus the yen has become quite stark," Murata said, adding that choppy trading conditions could persist toward the year-end.
The euro rose by 0.4 percent to $1.23620, moving further away from a 28-month low of $1.2247 hit on Monday as the dollar weakened across the board.
Against a basket of major currencies, the dollar fell 0.3 percent, having hit a five-year high on Monday.