Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Beijing is still short on details on how it will respond to new U.S. tariffs on Chinese goods.World Economyread more
Falling air cargo demand could be flashing warning signs about the broader economy.Transportationread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Target's latest earning report shows how these investments are driving traffic and sales at a time when other retailers are struggling.Retailread more
The chip, called the Ascend 910, was first unveiled in October last year and is aimed at data centers.Technologyread more
Brazilian President Jair Bolsonaro hit back at French leader Emmanuel Macron, after he urged dialogue among G-7 leaders on the rising number of fires in the Amazon rainforest.World Politicsread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
"The economy may be in good shape now, but if we keep getting more and more tariffs it could deteriorate," Jim Cramer says.Mad Money with Jim Cramerread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
With the meltdown in stocks sending investors scurrying to safety in gold, JPMorgan Asset Management's Robert Michele said Thursday it's a matter of faith in the metal, or the lack thereof in other assets.
"Gold at $1,200 an ounce, what does that tell you?" he asked rhetorically in a CNBC "Squawk Box " interview. "It tells you that in a flight to quality and a safe haven, people have more confidence in gold than in bank deposits or paper money. I think things have gotten out of control."
In early trading, gold prices surged nearly 4 percent to around $1,241 per ounce, its highest level in a year.
Gold was also supported by a lower dollar, which makes the metal cheaper for holders of other currencies. The dollar was under heavy pressured early Thursday against the Japanese yen, which rose to 15 month highs.
Michele serves as global CIO and global head of the fixed income, currency and commodities group. Overall, JPMorgan Asset Management has $1.7 trillion in assets under management.
— Reuters contributed to this article.