MARKETS / FINANCE

The Federal Reserve's monetary policy committee gathered for a one-day meeting on Tuesday to consider, and perhaps adopt, additional measures to prop up a softening U.S. economic recovery.

Stocks were poised for a sharp decline at the open on Tuesday as uncertainty built up ahead of the Federal Reserve's latest assessment of the economy from its monetary policy meeting later in the day.

Non-farm productivity fell for the first time in 1-1/2 years during the second quarter and labor costs barely edged up, according to a Labor Department report on Tuesday that underlined a slowing pace of economic recovery.

Stock index futures fell on Tuesday, weighed by worries over weaker-than-expected import data from China and a cautious mood ahead of the Federal Reserve's meeting on monetary policy.

China's trade surplus surged unexpectedly in July to an 18-month high of $28.7 billion as exports beat forecasts, but a government-induced slowdown in investment took a toll on imports.

Stock index futures fell on Tuesday, weighed by worries over weaker-than-expected import data from China and a cautious mood ahead of the Federal Reserve's meeting on monetary policy.

Small business owners became more downbeat in July as expectations of weaker economic growth in the second half of the year reinforced a reluctance to hire, according to a survey published on Tuesday.

Stock index futures pointed to a lower open on Wall Street on Tuesday ahead of the outcome of the Federal Reserve's policy meeting, with futures for the S&P 500 down 0.58 percent, Dow Jones futures down 0.52 percent and Nasdaq 100 down 0.67 percent at 4:45 a.m. EDT.

Goldman Sachs Group Inc has hired Michael Wise, a Morgan Stanley veteran, to run its financial institutions group, the Wall Street Journal said.

It seems disasters are set to hit gold production in a big way this year. As reports come in from China about fire at a gold mine at Yantai in Shandong province killing 16 people, Chile also reported major accidents at its mines last week.

Gold retreated in Asian trade Tuesday, ahead of a crucial US Fed policy meeting. Gold for immediate delivery was seen trading at $1199.74 an ounce at 12.00 noon Singapore time while US gold futures for December delivery was at $1201.8 an ounce. Analysts said investors are hopeful of Fed taking steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

Gold prices eased below $1,200 an ounce in Europe on Tuesday as the dollar strengthened, but remained supported by uncertainty ahead of a monetary policy meeting of the U.S. Federal Reserve later in the day.

Oil dropped a dollar to below $81 a barrel on Tuesday, sapped by hints of weaker demand for fuel in the world's top energy users and a strengthening U.S. dollar. U.S. crude for September delivery fell $1.03 to $80.45 a barrel at 6:20 a.m. ET, off a session low of $80.30. London Brent crude was down $1.30 at $79.69.

U.S. stock index futures pointed to a lower open on Wall Street on Tuesday ahead of the outcome of the Federal Reserve's policy meeting, with futures for the S&P 500 down 0.58 percent, Dow Jones futures down 0.52 percent and Nasdaq 100 down 0.67 percent at 4:45 a.m. ET.

Gold steadied around $1,200 on Tuesday on bargain hunting as investors bet the U.S. Federal Reserve would take further steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

Oil fell below $81 on Tuesday as China's crude imports slowed sharply in July, raising the prospect of less purchases by the world's second largest energy consumer as its economic growth cools in the second half. China imported 19 million tonnes or 4.47 million barrels per day of crude oil in July, down 17.5 percent from June's record 5.4 million bpd, official data showed.

The dollar rose on Friday and world stocks slipped as investors stayed cautious ahead of likely moves by the U.S. Federal Reserve to warn about and possibly prop up a softening economic recovery.

The economic recovery will fade as government supports dry up, and the Federal Reserve may need to do more to boost growth, economists said in a survey on Tuesday.

The Bank of Japan on Tuesday held off on new policy steps to combat a stronger yen, saving its limited firepower in case the currency's rise accelerates and threatens the fragile economic recovery.

The U.S. dollar rebounded against the euro and Asian stocks slipped on Tuesday as investors braced for the outcome of a Federal Reserve meeting that could disappoint some looking for big policy changes.

The U.S. dollar rebounded against the euro and Asian stocks slipped on Tuesday as investors braced for the outcome of a Federal Reserve meeting that could disappoint some looking for big policy changes.

The U.S. economic recovery will fade as government supports dry up, and the Federal Reserve may need to do more to boost growth, economists said in a survey on Tuesday.

The Bank of Japan kept interest rates steady and held off on new policy steps on Tuesday, saving its limited policy options in case a rise in the yen accelerates and threatens the country's fragile economic recovery.

Oil fell to near $81 on Tuesday as China imports slowed pace in July, raising the prospect of less crude purchases by the world's second largest energy consumer as economic growth cools in the second half.

Gold ticked lower on Tuesday as early bargain hunting subsided, but investors bet the U.S. Federal Reserve would take further steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

The dollar staged a rebound against major currencies on Tuesday as traders pared short positions on looming uncertainty over whether the U.S. Federal Reserve will start a new phase of quantitative easing to deal with a slowing economy.

The China International Silver Conference (CISC) will be held in Beijing, October 15-17. This annual event in China has become one of the most important forums for market participants to discuss trends and important developments in the global silver market.

Who's the Swiss investor hwo lapped up a major quantity of Krugerrand gold bullion coins by the Rand Refinery and dried up its Kruggerand reservoir? Rand Refinery, the world's largest gold refinery refuses to reveal the identity of the individual but said that the stock can be replenished only in September.

The U.S. dollar clawed higher against the euro and Asian stocks slipped on Tuesday, as investors braced for the outcome of a Federal Reserve meeting that could disappoint some looking for big policy changes.