Gold held steady on Tuesday after the last session's record high, as investors stayed on the sidelines, watching the stalemate in Washington's budget talks to avert a ratings downgrade or default.
Tea Party activists demanded House of Representatives Speaker John Boehner deliver on budget cuts at a rally on Monday at his Ohio offices, urging the Republican leader to "stand strong" in debt negotiations.
Paul Light has worked in and studied the institutions of government in Washington for more than three decades. He has written papers and taught about the great American legislative battles of modern times, where compromise has nearly always prevailed.
Executives from rating agencies Standard & Poor's and Moody's Investors Service are scheduled to testify on Wednesday on attempts to reform the credit rating industry and the role it is playing in the U.S. debt ceiling debate.
President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.
Stocks were near flat on Tuesday as ongoing concern about a stalemate in the U.S. debt talks offset healthy earnings from corporations.
Assuming President Barack Obama and Congressional Republicans can not resolve the debt deal dispute in eight days, the unfathomable will happen -- a default by the U.S. Government. But that begs the question: what will the U.S. Federal Reserve do, if the U.S. Government defaults?
President Barack Obama's Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default.
So many Americans are so sick of political acrimony over raising the U.S. debt limit that it might seem unfathomable to have to do it all over again early next year. But that is exactly what the top U.S. Republican, John Boehner, is proposing for some practical political reasons.
Across the street from the U.S. Capitol in the small north lawn of the United Methodist Building, Christians, Muslims and Jews will pray on Tuesday for the country's budget, and hope to teach Republicans and Democrats a lesson in compromise.
The nominee to be the next top U.S. military officer warned on Tuesday that cutting security spending by $800 billion or more as part of deficit reduction measures would be "extraordinarily difficult and very high risk."
The dollar fell on Tuesday as U.S. lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined.
President Barack Obama's Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default.
Here is the situation on Tuesday as lawmakers try to close in on a deal to raise the $14.3 trillion U.S. debt limit by August 2 and avoid a federal credit default:
Stocks continued to face headwinds on Tuesday from the ongoing stalemate in Washington over raising the debt ceiling, with light volume showing the gridlock in Washington has made investors nervous.
President Barack Obama's Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default.
Persistent economic woes are eroding President Barack Obama's support in his base of liberal and African-American voters, according to a new Washington Post/ABC News poll.
South African gold miners will this week join thousands of workers seeking pay rises in widening nationwide strikes, threatening to hurt exports from Africa's largest economy at a time when bullion is at record highs.
The S&P and Nasdaq were little changed in thin trade on Tuesday as investors hoped for a resolution in the debt ceiling stalemate, while industrial stocks fell after 3M's profit failed to top estimates.
At this juncture, the most likely solution to the acrimonious stalemate on Capitol Hill between Democrats and Republicans that threatens to trigger a dreaded U.S. Government default may be a hybrid plan combining elements of bills by Senate Majority Leader Harry Reid, D-Nev., and by House Speaker John Boehner, R-Ohio.
Gold held steady below its record high on Tuesday as investors waited to see if President Barack Obama's appeal for lawmakers to break a deadlock in U.S. debt talks would succeed, while the euro zone debt crisis lent support.
IMF chief Christine Lagarde on Tuesday urged the United States to quickly resolve a political stalemate over raising the debt ceiling, warning that failure to reach an agreement would have serious consequences for the world economy.
