Gold Prices Cap Longest Slump in Five Weeks on Fed Rate Outlook

Gold futures posted the longest slump in five weeks on concern that the Federal Reserve is moving closer to raising U.S. interest rates, crimping demand for the precious metal as an alternative investment. In the third quarter, gold fell 8.4 percent as the U.S. economy gained. The Fed begins a two-day meeting tomorrow and policy makers will debate the pace of raising borrowing...

Oil Falls as UAE Says OPEC Won’t Cut Output to Bolster Price

Crude oil dropped to a five-year low after the United Arab Emirates said OPEC wont rein in production in response to the slump. The Organization of Petroleum Exporting Countries will refrain from curbing output even if prices fall as low as $40 a barrel, U.A.E. Energy Minister Suhail Al-Mazrouei said. Prices have fallen about 20 percent to the lowest in five years since OPEC decided against cutting production to tackle the glut at a Nov....

Asian Stocks Extend Eight-Week Low as Oil Slump Hurts Sentiment

Asian stocks fell, with the regional benchmark gauge extending an eight-week low, as the slump in oil raised concern about the global economy and a stronger yen weighed on Japanese equities.The MSCI Asia Pacific Index dropped 0.3 percent to 135.24 as of 9:01 a.m. in Tokyo after closing at its lowest level since Oct. 17 yesterday. The Standard & Poors 500 Index declined 0.6 percent as the selloff in crude overshadowed a surge in industrial...

Japan Stocks Fall Second Day as Yen Gains Amid Crude Oil Selloff

Japanese stocks slumped for a second day after the yen strengthened as investors sought haven assets amid a continuing selloff in crude oil. The Topix slipped 1.2 percent to 1,363.46 at 9:01 a.m. in Tokyo, after closing yesterday at a one-month low. All of the 33 Topix industry groups retreated. The Nikkei 225 decreased 1.4 percent to 16,864.28. The yen traded at 117.87 per dollar...

U.S. Stocks Retreat as Oil Drop Overshadows Deals, Factory Data

U.S. stocks retreated, sending the Standard & Poors 500 Index to its fifth drop in six sessions, as the continuing selloff in oil overshadowed a surge in industrial production and corporate deals. The S&P 500 fell 0.6 percent to 1,989.43 at 4 p.m. in New York, falling below its average price for the past 50 days. The gauge lost as much as 1 percent today, slipping below its 100-day moving average before paring the decline. It...