Business News

(NEW YORK) -- The price of gold topped $3,500 per ounce for the first time ever on Tuesday, reaching toward new record highs as trading stretched into midday.Gold prices have soared 35% so far this year, far outpacing a 9% gain in the S&P 500. Over that period, the Dow Jones Industrial Average has jumped 6% and the tech-heavy Nasdaq has climbed 10%.The rush toward gold reflects heightened economic uncertainty, experts said. […]

(WASHINGTON) -- The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News.A federal agency postponed the release of a monthly jobs report on Friday, leaving observers in the dark about the status of a sharp hiring slowdown. If the government shutdown stretches into next week, fresh inflation […]

(WASHINGTON) -- A tariff loophole for low-cost shipments helped fuel an explosion of U.S. consumers purchasing shoes, sunglasses and a host of other items directly from sellers overseas. The Trump administration closed that exemption on Friday, bringing the era of duty-free online buying to an end.President Donald Trump closed what's known as the "de minimis" loophole, which allowed for duty-free import of goods valued at less than $800. Now, such […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks closed higher on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse.The Dow Jones Industrial Average jumped 43 points, or 0.09%, while the S&P 500 climbed 0.34%. The tech-heavy Nasdaq increased 0.42%.The Dow and S&P 500 each closed at record highs on Wednesday.The uptick extended a period of resilient performance for markets, which shrugged […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks ticked higher in midday trading on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse.The Dow Jones Industrial Average jumped 71 points, or 0.15%, while the S&P 500 jumped 0.1%. The tech-heavy Nasdaq increased 0.1%.The uptick extended a period of resilient performance for markets, which shrugged off the looming impasse a day earlier. Each of […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks dropped in early trading on Wednesday, just hours after a government shutdown began, shuttering some government services and complicating a delicate moment for the nation's economy.The Dow Jones Industrial Average fell 87 points, or 0.1%, while the S&P 500 slid 0.4%. The tech-heavy Nasdaq declined 0.6%.The selloff marked the first sign of shutdown-related strain for markets, which shrugged off the looming impasse a […]

U.S. President Donald Trump speaks during a bilateral meeting with President of Ukraine Volodymyr Zelensky at the 80th session of the UN’s General Assembly (UNGA) at the United Nations headquarters on September 23, 2025 in New York City. World leaders convened for the 80th Session of UNGA, with this year’s theme for the annual global meeting being “Better together: 80 years and more for peace, development and human rights.” (Photo […]

(NEW YORK) -- The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump's tariff policy, federal government data on Thursday showed.The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government's final estimate, besting a 3.3% rate issued in its second estimate and far exceeding a 3% initial estimate.The figure marked a sharp […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) -- Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday.The company will slash 900 employees at its stores in North America, Niccol said. The store closures will amount […]