The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle, Washington. While there, he's scheduled to meet with Boeing executives and...Airlinesread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
For the past six years, Facebook has tried over and over to release a hardware product that consumers will want, and it has never succeeded.Technologyread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
President Barack Obama spoke at an event in San Francisco on Wednesday hosted by software company Splunk and addressed how tech can help solve problems.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
Gold eased on Wednesday on a stronger dollar and as investors locked profits following the more than 1% jump in the last session, but uncertainty over U.S.-China trade and the global economy kept safe-haven bullion near a multi-year peak.
Spot gold fell 0.4% to $1,536.83 per ounce. On Monday it touched $1,554.56, its highest since April 2013. U.S. gold futures fell $2.70 to settle at $1,549.10 per ounce.
"We aren't seeing any additional tensions. A lot of the news - the trade war and economic concerns - has been factored in by the market over the last few days," said David Meger, director of metals trading at High Ridge Futures, adding profit-taking following the rally in response to a firmer dollar was weighing on gold.
The dollar rose 0.2%, making gold more expensive for holders of other currencies, while U.S. stock markets moved into positive territory.
However, sentiment in wider markets remained fragile due to a sharper inversion in the U.S. Treasury yield curve, signaling a possible recession, and the lack of clarity on the U.S.-China trade front, which kept interest for safe havens intact.
"I do not see this (drop in gold prices) lasting for long as traders seem to be trying to buy dips in the precious metals right now and with the yield curve and the U.S. Federal Reserve's (current stance), expect that dip to be bought up fairly quickly," said Bob Haberkorn, senior market strategist at RJO Futures.
Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.
Federal funds futures implied traders saw a 91% chance of a 25 basis point rate cut by the U.S. central bank next month, and a 100 basis point cut within 2020.
Markets also kept a close eye on Britain's planned exit from the European Union, with concerns of a hard Brexit heightened after British Prime Minister Boris Johnson dissolved the Parliament.
Elsewhere, spot silver rose 0.7% to $18.29 per ounce, hitting its highest level since April 2017 earlier.
"There is not much at present to suggest that the demand for gold and silver might abate," Commerzbank analysts wrote in a note.