A Night of Cheers and Jeers
Gold Futures Settle Lower As Dollar Rises After Powell's Speech
Gold futures settled lower on Friday as the dollar gained in strength after Fed Chair Jerome Powell said at the Jackson Hole Symposium that further interest rate increases could be necessary in the fight against inflation.
The dollar index, which dropped to 103.74 around mid morning, rose to 104.45 after Powell’s speech, and despite paring some gains, was up modestly at 104.15 a little while ago.
Gold futures for December ended down $7.20 at $1,939.90 an ounce.
Silver futures for September ended up $0.004 at $24.234 an ounce, while Copper futures for September settled at $3.7620 per pound, down $0.0090 from the previous close.
Powell, who compared monetary policy to “navigating by the stars under cloudy skies,” reiterated the Fed’s target of 2% inflation, and called it “challenging” to know when monetary policy is restrictive enough to “know in real time when such a stance has been achieved.”
Powell promised to proceed carefully with future monetary policy decisions, calling restoring price stability essential to achieving the Fed’s dual mandates of 2% inflation over time and maximum employment.
The Fed’s monetary policy committee is next scheduled to meet September 19-20, with the central bank widely expected to leave interest rates unchanged.
Do Cocktail Glasses Have a Gender? For Some Men, Clearly.
Stereotypes may be fading, but bartenders say many male customers are still uneasy with fancy glassware. And bars are trying to help.
By Becky Hughes
Becky Hughes, reporting from New York City, has written about over-the-top martinis, luxury ice and other cocktail trends.
Oil Futures Settle Notably Higher
Despite some disappointing economic data from Germany and a fairly strong U.S. dollar, oil prices climbed higher on Friday amid tightening supply due to production cuts from OPEC and its major allies.
Higher diesel prices in the U.S., and reports about a fire at a refinery in Louisiana contributed as well to the uptick in oil prices.
A stronger dollar limited oil’s upside.
West Texas Intermediate Crude oil futures for October ended higher by $0.78 or about 1% at $79.83 a barrel.
Brent crude futures settled at $84.48 a barrel today, gaining $1.12 or about 1.3%.
Russia and Saudi Arabia announced earlier this month that they would extend their additional cuts into September.
It is widely expected that Saudi Arabia will likely continue with its production cut through October.
According to a report from Baker Hughes, the number of active oil rigs in the U.S. fell again. The oil and gas rig count fell by 10 to 632 this week, the lowest since February 2022.
U.S. oil rigs fell eight to 512 this week, their lowest since February 2022, while gas rigs slipped by two to 115, their lowest since January 2022.
Love Shrimp Scampi? Try This Rosé-Infused Twist.
This zippy dish is still cooked in butter and wine, but feels like it spent the summer in Provence.
By Eric Kim
Man dies after being assaulted on E. 53rd Ave. in northeast Denver
A man died in a hospital Tuesday night after being assaulted in northeast Denver early Monday morning.
Denver police responded to a report of an assault about 3:10 a.m. Monday in the 15500 block of East 53rd Avenue, according to a news release.
When officers arrived, the suspects had left the scene, and witnesses said an injured man was taken to a hospital.
That man later died of his injuries Tuesday evening, police said.
Police ask anyone with information on the suspects in this assault to contact them or Metro Denver Crime Stoppers at 720-913-7867.
Video: Analysis of CU Buffs D-line rotation, and another Hall of Famer visits – The Denver Post
BuffZone’s Brian Howell joins Adam Munsterteiger of BuffStampede to talk about the Colorado football team’s rotation at defensive line and the impact of Hall of Famer Michael Irvin visiting the team.
Interstate 70 is closed in both directions over Floyd Hill
A section of Interstate 70 in the foothills is closed in both directions for safety concerns, with loose rock above the highway considered a threat to dislodge.
The highway is closed, including Floyd Hill, from U.S. 6 to Jefferson County Road 65, according to the Colorado State Patrol. There is no estimated time for reopening.
U.S. 40 remains open in the area and is being used as a detour.
Drivers should avoid the area if possible, traffic in the area is facing long delays.
This story will be updated.
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A Night of Cheers and Jeers
The famed Amateur Night at the Apollo enters its 89th year, and audiences are as outspoken as ever.
By Vidhya Nagarajan