Gold hits record high price near 2514 per ounce
Gold closed Tuesday at 2514 and change per Troy ounce, the highest ever. UBS analyst cites weaker dollar and Fed rate cut expectations as key drivers while central banks' demand and geopolitical tensions boost buying. Some warn that gold may not always hedge inflation or protect capital.
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Airlines extend Israel flight suspensions to Oct 31
Delta Air Lines extends its Israel flight suspension through October 31 amid ongoing Gaza war. American also extended U S Tel Aviv flights through March 29 next year. Both carriers offer rebooking with no extra charge or refunds, and Delta permits rebooking on El Al and Air France. Continuous security monitoring drives the action as other carriers adjust operations.
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Wall Street Nears Record Highs On Strong Profit Reports
U.S. stocks edged higher as several firms surpassed expectations with rising profits. The S&P 500 gained 0.4 percent, the Dow added 55 points, and the Nasdaq rose 0.6 percent as investors await Powell’s Friday speech and potential rate cuts. Target jumped 11.2 percent, TJX up 6.1 percent, while Macy’s fell 12.9 percent. Inflation cools but remains high, with households' savings strained and high rates pinching borrowing costs. Analysts anticipate the Fed may cut rates next month for the first time since 2020.
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Ford pivots to hybrids amid EV pushback and costs
Ford plans to wind down some all electric projects and shift capital toward hybrid technology. The automaker will cut EV capex from 40 to 30 percent and take a $400 million write-down, with possible additional charges up to $1.5 billion as it refocuses its next three SUVs around hybrids while pursuing an all electric commercial van in 2026.
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