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The coronavirus has infected more than 18.4 million people around the world as of Wednesday, killing at least 699,575 people.
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 Shares of Zillow Group Inc. rose Tuesday into record territory before pulling back, after Susquehanna analyst Shyam Patil upgraded the online real estate information marketplace, in anticipation of an upbeat earnings report due out later this week.
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 (Bloomberg) -- Gold's scorching rally gathered more force, with prices driven higher into record territory above $2,000 an ounce as investors assessed prospects of more stimulus to combat the pandemic's fallout, another slide in U.S. real yields and increased geopolitical risks.Bullion is up more than 30% this year, and could extend gains as governments and central banks respond to slowing growth with vast amounts of support. The haven's allure as a store of wealth is strengthening as investors face the prospect of a long global recovery, and the debasement of fiat currencies, with banks including Goldman Sachs Group Inc. forecasting a rally to $2,300."The stage has been set for gold to continue to climb higher," Paul Wong, market strategist at Sprott Inc., said in a report. "We see increased fiscal spending ahead, extremely accommodative monetary policy in place for years and a challenging economic recovery, as stated by the Fed."Shifts in the U.S. bond market have also underpinned gold's meteoric ascent, with an added lift from a weaker dollar. Real yields on 10-year Treasuries have collapsed below zero and hit a record low below -1% on Tuesday. After sinking 3.3% in July, the U.S. currency is now lower in 2020.Spot gold rose as much as 0.6% to a record $2,031.14 an ounce and traded at $2,019.74 at 8:51 a.m. in Singapore, while most-active futures traded as high as $2,048.60 on the Comex. Spot silver climbed as much as 1.3% to $26.3473 an ounce, the highest since 2013, before trading lower.Treasury Secre
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Gold futures power higher Tuesday, gathering momentum late in the session as government bond yields head lower and as the U.S. dollar's recent rebound recedes somewhat, allowing the precious metal to make an assault on a record close above the $2,000 threshold.
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 (Bloomberg) -- Prudential Financial Inc. posted a second-straight quarterly loss and said it expects low interest rates will continue to weigh on results.The life insurer posted a net loss of $2.41 billion, compared with net income of $708 million a year earlier. The loss was driven in part by a decline in the value of its derivatives holdings due to tightening credit spreads. Asset-management unit PGIM was a bright spot.Key InsightsPrudential is looking to weather a low-interest-rate environment by repricing and pivoting to less rate-sensitive products, it said in an earnings statement Tuesday. The company cut its long-term forecast for U.S. interest rates by 50 basis points to 3.25%"We displayed resiliency amidst the effects of the pandemic and economic and market shocks while continuing to execute against our 2020 priorities with urgency," Chief Executive Officer Charles Lowrey said in a statement. The company is on track to reach its cost-saving target of $140 million this year and is shifting its international business to higher-growth markets, he said.PGIM broke records for adjusted operating income of $324 million, and assets under management, which swelled 9% to $1.39 trillion. The division benefited from investment earnings, lower expenses, higher fees and fixed-income inflows.Prudential joins American International Group Inc. in feeling pain from the pandemic. AIG said on an earnings call earlier Tuesday that it had to pay out more death benefits due to the impact of the virus.Market Reacti
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U.S. stocks end a bumpy trading session on a high note Tuesday, with another record for the Nasdaq Composite, even as technology-related names took a backseat to outperformance in beaten-down sectors energy, real estate and consumer staples.
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Price of precious metal has raced higher this year, breaking nominal records
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