The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The price of gold fell back from the sharp gains made earlier on Wednesday, after a conciliatory victory speech from U.S. president-elect Donald Trump also helped the dollar rebound.
Gold had surged by nearly 5 percent to a six-week high of $1,337.40 an ounce as it emerged that the Republican nominee had triumphed over Democrat Hillary Clinton in the presidential election, a surprise for markets which prompted investors to seek refuge in perceived safe-haven assets like gold.
But gold's price later fell back below $1,300 an ounce as the U.S. dollar moved higher and stocks trimmed losses.
"Mr Trump managed to sound quite conciliatory and presidential in his victory speech this morning," Mitsubishi analyst Jonathan Butler told the Reuters Global Gold Forum on Wednesday. "There was none of the harsh rhetoric that we heard during the campaign."
"This calmed the markets and helped boost the dollar, eroding gold's gains," he said. "(But) the Trump win is still essentially bullish for gold."
The dollar, Mexican peso and world stocks initially fell on Wednesday as Trump swept to victory, but fears of a Brexit-style shock that wiped trillions off global markets failed to materialize.
Trump's win threw into question the core assumption in financial markets that the Federal Reserve will raise interest rates soon and follow with further gradual hikes over coming years.
Speculation has mounted that Fed chair Janet Yellen may resign before the end of her term in January 2018, after Trump accused the U.S. central bank of keeping rates low to favor incumbent President Barack Obama, and indicated that he might replace Yellen.
Davis Hall, head of forex and precious metals at Indosuez, said gold's retreat suggested upside for the precious metal was limited, but that the metal could still benefit from a Trump victory as the longer-term implications emerged.
"I still think stocks are going to digest this over a 10-day period, and 10 days from now stocks will be lower than they are now," he said. "If the S&P breaks 2,000, gold will be up $100."
Spot silver was at $18.62 an ounce, up 1.5 percent, having risen to its highest since Oct. 3 at $18.996 an ounce. Platinum was 0.7 percent higher at $1,009.60 an ounce, while palladium was up 0.8 percent at $668.30.