In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV as Elliott Management pushes for divesting the satellite TV asset.Technologyread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
Gold hit a six-week high on Thursday before being pressured by the dollar's bounce on solid U.S. economic data. Traders digested the Federal Reserve's Wednesday statement that showed it was closer to paring its balance sheet.
The U.S. central bank appeared less confident than it had about inflation picking up but said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the U.S. economy.
Spot gold peaked at $1,264.99, its highest since June 15 before trading 0.15 percent lower at $1,258.66 an ounce by 4:35 p.m. New York time.
U.S. gold futures for August delivery settled up 0.84 percent at $1,260, after falling in the prior session before the Fed released its statement.
The dollar turned higher after data showed shipments of key U.S.-made capital goods increased in June for a fifth straight month.
The resulting rise in the greenback pressures dollar-denominated gold since it makes the metal more expensive for investors paying in other currencies.
"The rebound in the dollar is putting a little pressure on gold today," said Phillip Streible, senior commodities broker for RJO Futures in Chicago. "The (Fed's) bond buy back policy will most likely go into
effect, and we should see the long end of the (interest rate) curve start to rise and that could put a little bit of pressure on gold and a touch of a boost on the dollar index."
Fed Funds futures implied on Thursday that traders see a 49 percent chance of the Fed raising interest rates in December, CME Group's FedWatch said.
"Considering that the Fed sees the near-term risk of the economy is neutral, I don't think the market will expect a third rate hike in the foreseeable future or at least in this quarter," Mark To, head of research at Hong Kong's Wing Fung Financial Group, said.
Rising U.S. interest rates increase the opportunity cost of holding non-yielding gold bullion, while boosting the greenback, in which it is priced.
In other precious metals, silver slid 0.05 percent to $16.612 per ounce, after reaching a one-month high at $16.82.
"Palladium still looks quite expensive considering the weaker demand backdrop in the global car market, but we will only get more data in early August," Julius Baer's Menke said.