Gold Climbs Most Since January as Fed Official Cut Rate Outlook

Gold prices climbed the most since January as Federal Reserve officials said an increase for interest rates is unlikely next month and cut their outlook for borrowing costs.U.S. economic growth has “moderated somewhat” and inflation has declined further below where officials would like it, the Federal Open Market Committee said in a statement Wednesday. The policy makers lowered their median estimate for the federal funds rate at the...

Dollar Tumbles Most Since 2009 After Fed Cuts Rate Projections

The dollar tumbled the most in six years after the Federal Reserve slashed projections for U.S. interest rates, tempering the removal of a promise to remain “patient” on raising borrowing costs. The greenback weakened versus most major peers as central bank officials almost halved their median estimate for the target rate this year. The dollar has been on a tear for the last six months, with traders boosting bets for further appreciation...

U.S. Stocks Rally as Fed Statement Spurs Bets on Rate Timing

U.S. stocks climbed, erasing an earlier loss, after the Federal Reserve said data suggest economic growth has moderated, fueling speculation it won’t be in a rush to raise interest rates. The Standard & Poor’s 500 Index rallied 1.2 percent to 2,099.26 at 4 p.m. in New York. The Russell 2000 Index advanced 0.8 percent to a record. The Nasdaq Composite added 0.9 percent, and briefly climbed back above 5,000. The...

European Stocks Rise as U.K. Shares Climb After Osborne Budget

European stocks climbed as U.K. shares rallied after a budget presentation and Swedish equities jumped after a rate cut. The Stoxx Europe 600 Index added 0.3 percent to 398.65 at the close of trading, erasing earlier losses of as much as 0.4 percent. Investors are also awaiting a Federal Reserve policy decision for cues on the timing of a rate increase. The U.K.’s FTSE 100 Index climbed 1.6 percent as Chancellor of the Exchequer George...

U.S. Stocks Decline for Second Session Amid Fed Rate Speculation

U.S. stocks fell for a second day as investors speculated the Federal Reserve will signal a change in its stance on the timing for higher interest rates. The Standard & Poor’s 500 Index slipped 0.4 percent to 2,065.93 at 12:27 p.m. in New York. The gauge hasn’t posted a two-day gain in a month. The Dow Jones Industrial Average lost 111.29  points, or 0.6 percent, to 17,737.79. The Nasdaq Composite Index fell 0.3 percent. The...