Gold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards. Gold jumped to a more than two-week high on Friday as the latest updates on the coronavirus dented risk sentiment, and prompted a flight into safe-haven assets. Spot gold rose 0.76% to $1,574.0 per ounce, holding above the key $1,550 level, its highest since Jan. 8. Further developments surrounding the outbreak and a U.S. Federal Reserve meeting on Jan. 28-29 will be key drivers for gold into next week, Wong a

Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts. Brent was down about 4% this week, its third consecutive weekly drop. China is the world’s second-largest oil consumer so any slowdown in travel would show up on demand forecasts. Such outages include the shutdown this week of the bulk of oil supply in OPEC producer Libya. 2 oil producer Lukoil expects it to be extende

Oil posted its worst week since July as the coronavirus outbreak continues to pressure prices. This was the fourth straight day of losses, and the contract declined 7.4% for a third straight week of declines. International benchmark Brent crude dropped 2.2% to settle at $60.69, bringing its weekly loss to roughly 6.4%, which was also the third straight week of declines. Several typically bullish events in the oil market occurred this week, but they weren’t enough to prop up prices. Correction: T

Damaged buildings in Sursuru neighborhood are seen after a 6.8-magnitude earthquake jolted eastern Turkish province of Elazig on January 24, 2020. The magnitude 6.8 quake shook Elazig province, about 550 km (340 miles) east of the capital Ankara, and was followed by dozens of aftershocks. Interior Minister Suleyman Soylu said emergency workers were searching for 30 people under the rubble, and more than 500 people were injured. Elsewhere emergency workers used drills and mechanical diggers to cl

France confirmed on Friday its first three cases of the Wuhan coronavirus, with two patients being hospitalized in Paris and the other in the southwestern city of Bordeaux. Health Minister Agnes Buzyn told a news conference authorities had confirmed two cases, Europe’s first, and that more cases were likely to occur in France. Buzyn said she had no information yet on the second case, in Paris, which had just been confirmed. Most of the cases and all of the deaths so far have been in China, where

The federal Bureau of Prisons is planning to move Lamine N’Diaye to the role at FCI Fort Dix, a low-security prison in Burlington County, New Jersey, the people said. The inspector general’s investigation is continuing, and the Justice Department is still probing the circumstances that led to Epstein’s death, including why he wasn’t given a cellmate. Since Epstein’s death and N’Diaye’s removal as warden, the Manhattan jail has had two interim leaders. The newest warden, M. Licon-Vitale, used to

Dow Jones Industrial Average falls 170 pointsThe Dow slid 170.36 points, or 0.58%, to 28,989.73. Rising fears over the coronavirus’ impact on the global economy left investors dumping stocks in search of safer assets. Coronavirus sparks flight to safetyThe CDC confirmed earlier on Friday a second U.S. case of the deadly coronavirus. Worries over the coronavirus were enough to offset strong earnings from American Express and Intel. Airlines drop, Boeing stages big turnaroundAirline stocks United

Here are the top 5 moments from Power Lunch this week:The Coronavirus continued to spread, and each day the number of those infected rose. Cases have appeared in China, Hong Kong, Japan, South Korea, Taiwan, Thailand, Singapore, Vietnam, and even the United States. While the World Health Organization has not yet deemed the virus an international emergency, the option still remains on the table. One expert from Johns Hopkins Center for Health said that was a mistake, and if the virus becomes a pa

Uber’s first year as a public company had some setbacks, but brighter days should be ahead in 2020, RBC Capital Markets analyst Mark Mahaney told CNBC on Friday. While Uber’s stock is “clearly dislocated” and was “very controversial last year,” Mahaney said he believes Uber is well positioned to narrow its losses and continue growth in its ride-hailing business. “It could be the Facebook of 2020,” he added, referencing the social media giant whose stock rose more than 55% in 2019. More decisions

“We’ve got a huge number of companies reporting next week, but the biggest story by far will be the coronavirus outbreak,” the “Mad Money” host said. Horton, a large homebuilder, reports earnings for its first quarter of the 2020 fiscal year before the market opens. Wednesday: Boeing, General Electric, Facebook, Microsoft earnings; Goldman Sachs analyst dayBoeing reports earnings in the morning and it will be the first shareholder call led by new CEO David Calhoun. Friday: Exxon Mobil, ChevronEx

CNBC’s Jim Cramer broke down the looming week of earnings reports with quarterly results coming from the likes of Facebook, Apple, Amazon and Microsoft. The coronavirus outbreak will cast a shadow over the week and could discount stocks for investors to pick from, the “Mad Money” host said. Later in the show, he broke down L Brands’ predicament and explained why he thinks multiple analyst upgrades on the stock are misguided. “We’ve got a huge number of companies reporting next week, but the bigg

House Managers Adam Schiff (C) and Jerry Nadler (C R) speak to reporters on the fourth day of the Senate impeachment trial of US President Donald Trump in Washington, DC on January 24, 2019. Andrew Caballero-Reynolds | AFP | Getty ImagesDemocratic House impeachment managers laid out their arguments Friday that President Donald Trump obstructed Congress — the final prong of their case for Trump’s conviction and removal from office. Here are today’s highlights from the Senate impeachment trial:Obs

Porsche will return to Super Bowl advertising for the first time since 1997 with a 60-second commercial that features the German brand’s all-electric Taycan sports car. ScreenshotPorsche is returning to the Super Bowl with its first ad since 1997 — a 60-second car chase that features the German brand’s all-electric Taycan sports car. A Super Bowl ad featuring the Taycan, according to Porsche, was important to build awareness for the car in an attempt to continue attracting new customers interest

They’ll be meeting as part of an effort to push through a rule change proposed by HHS in 2019 to promote medical data interoperability. Apple’s Ricky Bloomfield, who’s working on efforts to add health information to the iPhone, is expected to join by phone, as is Microsoft’s Joshua Mandel, a chief architect at the company. Proponents of the change are trying to modernize patient access to their data, because it’s still common for health systems to only make it available via a CD-ROM or fax. That

Even 17 years after the first Call of Duty game release, the franchise is still one of the biggest sales drivers for Activision Blizzard. And now the publisher is hoping to leverage the game’s legacy in its upcoming Call of Duty esports league. Activision Blizzard also announced Friday a multiyear partnership with Google to have YouTube Gaming be the exclusive livestreaming partnership for all of Activision’s esports leagues. In 2018, the publisher launched the Overwatch League, a competitive le

President Donald Trump thanked Chinese President Xi Jinping for his country’s handling of the coronavirus, shortly after American health officials confirmed a second case of the flu-like virus in the United States. “China has been working very hard to contain the Coronavirus,” Trump wrote in a post on Twitter. “The United States greatly appreciates their efforts and transparency. The U.S. Centers for Disease Control and Prevention reported the first instance of the virus in the United States ear

Wendy’s foray back into breakfast can be a success without swiping considerable market share from McDonald’s, Barclays’ analyst Jeffrey Bernstein told CNBC on Friday. “I don’t think they necessarily need to beat McDonald’s,” Bernstein said on “Power Lunch.” “Wendy’s is fighting a whole lot of players besides McDonald’s, so we think the two of them can survive together,” he added. Wendy’s is launching its breakfast menu in the coming months, investing about $20 million to do so. Wendy’s currently

But Pompeo declined to answer multiple questions from Kelly about Ukraine, saying he had only agreed to discuss the administration’s policies with regard to Iran. Secretary of State Mike Pompeo cursed out an NPR reporter after she pressed him to answer questions about the removal of former U.S. ambassador Marie Yovanovitch from her post in Ukraine, the outlet reported Friday . On a radio program for NPR that aired Friday, Kelly provided more details about her unrecorded exchange with Pompeo. The

Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 5, 2019 in New York City. Stocks were choppy in the past week, and Treasury yields have been sinking on worries about the new virus. The 10-year yield sunk to a Nov. 1 low of 1.68% and investors drove gold prices higher in a flight-to-safety trade. “You could see going into the weekend the 10-year Treasury yield is down, gold is higher, the market is in a text book defensive state,” said Krosby. “We had a market

In May 2019, Robert F. Smith, founder and CEO of private-equity firm Vista Equity Partners, gave a commencement speech to Morehouse College’s graduating class. Then, the billionaire announced that he and his family would pay off the roughly 400 graduating seniors’ student loans — as well as loans taken out by students’ parents and guardians. The total gift of roughly $34 million brought the crowd to their feet and sparked a conversation about student debt, college affordability and Historically