After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
See which stocks are posting big moves after the bell.Market Insiderread more
The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey Gundlach,...Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Gold fell for a third straight session on Wednesday on pressure from a firmer dollar amid speculation that the next chair of the U.S. Federal Reserve could be a policy hawk.
Spot gold was down 0.43 percent at $1,279.33 an ounce at 9 a.m. ET, having touched its lowest since Oct. 9 at $1,279.
U.S. gold futures for December delivery were off 0.37 percent at $1,281.60.
"Interest rate hikes had not been fully priced in for next year. That has changed massively following speculation that (Fed Governor Jerome) Powell might become the next chairman," said Commerzbank analyst Carsten Fritsch.
U.S. President Donald Trump has a pool of five candidates to choose from for the next chair of the Fed and is likely to announce his choice before going to Asia in early November, a source familiar with the situation said.
Jerome Powell will likely be the next Federal Reserve chairman, according to a slim majority of economists in a Reuters poll, though most of them said that incumbent Janet Yellen would be the best option.
The dollar edged higher on the speculation and as the market awaited more detail on Trump's tax reform.
The dollar index, which tracks the greenback against a basket of six currencies, inched up 0.13 percent to 93.60. The change followed new U.S. data, which showed that new applications for U.S. unemployment benefits last week fell to a more than one-month low after being boosted by two hurricanes.
The U.S. central bank is widely expected to raise interest rates for the third time this year in December.
Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.
"With dollar strength in mind, it would present further risks to gold, but I'm waiting to see how the Catalonia crisis unfolds tomorrow, pinpointing a possible next move for gold, in either direction," said Jameel Ahmad, vice president of market research at FXTM.
Catalonia refused on Tuesday to bow to the Spanish government's demand that it renounce a symbolic declaration of independence, setting it on a political collision course with Madrid this week.
Gold is often used as a store of wealth in times of political or economic uncertainty.
MKS precious metals trader Sam Laughlin said the $1,280 an ounce support remained intact but further weakness could test the 100-day moving average at $1,275.
Support below that level sat between the early October low of $1,260 and the 200-day moving average at $1,257, he said.
In other precious metals, silver was down 0.17 percent at $16.958 an ounce after touching its lowest in more than a week.