ABC Business

Gold prices hit a record high as economic uncertainty looms

Tuesday, September 2 by ABC 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... Read More.

What does the closure of the de minimis loophole mean for shoppers?

Friday, August 29 by ABC News

(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... Read More.

Fed Governor Lisa Cook sues Trump over attempted ouster

Thursday, August 28 by ABC News

Drew Angerer/Getty Images(WASHINGTON) -- Federal Reserve Governor Lisa Cook sued President Donald Trump on Thursday over his move to fire her, saying she should retain her position as a top policymaker at the central bank.The lawsuit, filed in U.S. District Court for the... Read More.

Chip giant Nvidia to report earnings as some warn of AI ‘bubble’

Wednesday, August 27 by ABC News

(NEW YORK) -- An earnings report to be released by chip giant Nvidia on Wednesday will offer a window into the health of the artificial intelligence (AI) industry, which in recent years has become a key engine for stock market gains and economic growth.Nvidia,... Read More.

Consumer confidence worsened slightly in August

Tuesday, August 26 by ABC News

(NEW YORK) -- Consumer confidence worsened slightly in August, erasing some gains from the previous month and resuming a downward trend suffered at the outset of 2025, the Conference Board said on Tuesday.The souring of shopper attitudes followed a weak jobs report and... Read More.

Elon Musk’s xAI sues Apple, OpenAI over alleged scheme to dominate AI

Tuesday, August 26 by ABC News

(NEW YORK) -- Elon Musk-owned xAI on Monday sued tech giants Apple and OpenAI over an alleged scheme to illegally dominate the artificial intelligence industry through a collaboration that equipped iPhones with AI tools.The exclusive agreement between the world's largest smartphone producer and a... Read More.

US and EU release details for tariffs on cars, pharmaceuticals

Thursday, August 21 by ABC News

(NEW YORK) -- The United States and European Union on Thursday released new details of their trade agreement, including tariff levels for consumer staples like pharmaceuticals and autos.Prior to the agreement last month, the European Union faced the prospect of a 30%... Read More.

SpaceX’s Starship faces 10th test after previous flights end in explosions

Thursday, August 21 by ABC News

(NEW YORK) -- SpaceX's Starship is about to face its 10th test flight following explosions on previous launches. SpaceX CEO Elon Musk has promised that the world's most powerful rocket and spacecraft will one day take humans to Mars and beyond. But leading up to... Read More.

Target CEO to step down as sales remain sluggish

Wednesday, August 20 by ABC News

(NEW YORK) -- Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday.In recent years, Target has suffered sluggish sales as the company weathered Read More.

Fresh data to show consumer sentiment amid sweeping new tariffs

Friday, August 15 by ABC News

(NEW YORK) -- A fresh report on consumer sentiment on Friday will show how shoppers digested a cascade of economic developments this month, including President Donald Trump's firing of a top labor statistics official hours after the release of weak jobs data.The report, which details... Read More.