Gold Prices End Lower as Fed Meeting Looms, U.S. Stocks Rally

Gold futures settled Tuesday with a modest decline as investors turned their attention to a rally in the U.S. stock market ahead of the Federal Reserve’s monetary-policy meeting next week. The meeting may determine the direction of the dollar and dollar-denominated commodities like gold. Demand from Asian buyers helped keep a cap on any losses for gold with recent data showing that China bought 16 tons of the yellow metal in August,...

Fed Should Wait with Raising Rates: World Bank Economist

The U.S. Federal Reserve should hold off on raising interest rates until the global economy is more stable, the World Bank's chief economist said in an interview with the Financial Times published on Tuesday. “I don’t think the Fed lift-off itself is going to create a major crisis but it will cause some immediate turbulence,” Kaushik Basu was quoted as saying. “The world economy is looking so troubled that if the U.S. goes in for a...

U.S. Stocks Follow Gains in Global Equity Markets After Labor Day

U.S. stocks surged, with the Standard & Poor’s 500 Index’s second-best gain this year, after a late rally in Chinese stock markets led global equities higher. The S&P 500 jumped 2.5 percent to 1,969.28 at 4 p.m. in New York, after the gauge’s second-biggest weekly retreat this year. Equities around the world climbed today, led by China. A rally in Shanghai in the final hour of trading followed a pattern that has recently suggested...

U.S. Stocks Follow Gains in Global Equity Markets After Day Off

U.S. stocks rose, following the Standard & Poor’s 500 Index’s second-biggest weekly retreat this year, after a late rally in Chinese stock markets led global equities higher. Apple Inc., Amazon.com Inc., Wells Fargo & Co. and General Motors Co. all posted gains of at least 2.1 percent amid a broad-based rally as investors returned from the Labor Day holiday. Teco Energy Inc. surged 24 percent to a 13-year high after agreeing...

Europe Stocks Climb Second Day on China Support, Led by Autos

European shares posted a broad-based rally as China led gains in global equities amid speculation that state support will limit its market turmoil. All 19 industry groups on the Stoxx Europe 600 Index rose, with carmakers and miners leading the advance. Daimler AG, BMW AG and Volkswagen AG rose at least 2.5 percent. Commerzbank AG increased 6.8 percent after JPMorgan raised the German lender to overweight, similar to buy, from neutral,...