MARKETS / FINANCE

Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday after strong gains in the previous session, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.3 to 0.9 percent.

Gold could fall below $1,500 an ounce in the near term, as bullion has underperformed other assets and appears to have lost its safe-haven appeal, CitiFX said on Tuesday.

Gold prices held steady on Wednesday, shrugging off the downgrade of Spain's sovereign credit rating, as investors wait for clarity on Europe's plans to tackle the debt crisis at this weekend's European Union summit.

European stocks and the euro rose on Wednesday, on optimism policymakers will take major steps at a summit this weekend to solve the festering debt crisis and offsetting the impact from a cut to Spain's sovereign credit rating.

No agreement has yet been reached on scaling up the size of the euro zone's bailout fund to better tackle the debt crisis, two senior European Union officials said on Wednesday.

A double-notch downgrade to Spain's credit ratings has piled more pressure on European leaders to make rapid progress on solving the region's debt crisis or face unbearable borrowing costs.

European stock index futures jumped on Wednesday, tracking a rise in Asian shares, but a cut to Spain's sovereign credit rating from Moody's Investors Service kept investors' risk appetite in check.

A double-notch downgrade to Spain's credit ratings has piled more pressure on European leaders to make rapid progress on solving the region's debt crisis or face unbearable borrowing costs.

First there was the Stuxnet computer virus that wreaked havoc on Iran's nuclear program. Now comes Duqu, which researchers on Tuesday said appears to be quite similar.

Asian shares rose on Wednesday, but gains were capped by a cut to Spain's sovereign credit rating from Moody's Investors Service that kept investors' risk appetite in check.

Motorola Mobility is reviving its once-popular Razr brand to tout its latest gadget, the Droid Razr, as the world's slimmest smartphone.

CHATTANOOGA, Tennessee The U.S. economy is unlikely to slip back into recession, and an improvement in recent indicators has been encouraging, Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday.

Moody's Investors Service on Tuesday cut Spain's sovereign ratings by two notches, saying high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.

U.S. bank executives are eager to buy back their stocks at depressed prices, but regulators appear to be reining them in, showing a clear disagreement over how risky the financial world is today and how much banks need to conserve capital.

The Occupy Wall Street protest movement in the United States represents the arrival of a global wave of social and political turmoil, according to economist Nouriel Dr. Doom Roubini.

Apple Inc reported a rare miss in quarterly results after sales of its flagship iPhone fell well short of Wall Street expectations, hammering its shares.

Britain's Guardian newspaper reported on Tuesday that France and Germany had agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion), pushing U.S. stocks and the euro higher despite doubts about whether there was such an agreement.

CHATTANOOGA, Tennessee The U.S. economy is unlikely to slip back into recession, and an improvement in recent indicators has been encouraging, Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday.

Goldman Sachs Group Inc's bonuses are set to drop at least 20 percent this year and experts warn plunging revenue could push pay for the year even lower.

Yahoo Inc's net revenue and profit slipped in the third quarter, as the Internet company struggled to revive its online advertising business.

Federal Reserve Chairman Ben Bernanke said on Tuesday central banks may need to use monetary policy to combat asset bubbles, although regulation should be a first line of defense.

The CMJ Music Marathon kicks off in New York on Tuesday, with 1,300 bands descending on dozens of venues throughout Manhattan and Brooklyn. The dense five-day schedule festival has become an annual ritual for unknown artists hoping to gain a crucial blog post or accolade that will propel them to internet stardom, however brief.

Stocks surged late in trading on Tuesday as buyers latched onto another report of agreements to strengthen the euro zone's rescue fund to bid up stocks aggressively.

U.S. wholesale prices rose at their fastest pace in five months in September as the cost of gasoline surged, but a small gain in core prices suggested the price pressure was unlikely to be sustained.

France and Germany have agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion), part of a plan to resolve the bloc's debt crisis that should win support at Sunday's EU crisis summit, Britain's Guardian newspaper said on Tuesday.

Stocks surged late in trading on Tuesday as buyers latched onto another report of agreements to strengthen the euro zone's rescue fund to bid up stocks aggressively.

France and Germany have agreed to boost a euro zone financial rescue fund to two trillion euros ($2.76 trillion) as part of a plan to resolve the bloc's debt crisis that should win support at Sunday's EU crisis summit, Britain's Guardian newspaper said on Tuesday.

The United States pushed through its toughest measures yet to curtail speculation in commodity markets in a tight vote on Tuesday, likely shifting the focus of a fierce four-year debate from the regulators to the courts.

Goldman Sachs commodities business generated more revenue in the third quarter but treacherous markets forced it to slash risks, leading to overall losses at Wall Street's top bank.