Bargain Hunting Contributes To Early Strength On Wall Street
14 August, 2017, 02:31 | Author: Terri Saunders
USA stocks closed higher on Friday as Wall Street clawed back from a sharp decline in the previous session but the market still posted a weekly loss on lingering geopolitical uncertainties.
A small rise in a measure of U.S. consumer prices pointed to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year, which would be favorable to equity investors.
North Korea on Thursday outlined details for a missile strike near the USA territory of Guam, adding fuel to rising tensions with the United States.
Wall Street stocks posted their biggest declines in almost three months Thursday as President Donald Trump doubled down on his warnings to North Korea over its nuclear program.
It is "a bullish sign that the equity markets are rebounding somewhat on a Friday, in spite of the fact that investors will need to wait for two days to react to any geopolitical news that comes out over the weekend", said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.
The Dow Jones Industrial Average fell 163 points, or 0.74%, to 21,886, the S&P 500 lost 31 points, or 1.23%, to 2,443 and the Nasdaq Composite dropped 117 points, or 1.84%, to 6,236. Wall Street was expecting more inflation.
"If earnings can stay strong and interest rates remain low investors can look beyond North Korea and continue to rally equities", Phipps said.
North Korea said it was considering plans to fire missiles at Guam, a US-held Pacific island, after President Trump's warning on Tuesday.
However, the S&P was still not far off record levels.
Confrontation with North Korea not imminent
Pompeo declined to say how long it will be before North Korea could carry out such a nuclear attack on the USA mainland. In response, Mr Trump said North Korea should expect "big, big trouble" if anything happened to Guam.
Gold added $16.70, or 1.3 percent, to settle at $1,279.30 an ounce. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.
The dollar fell to 109.85 yen from 110.48 yen late Tuesday.
The annual decline in prices stands at 1.7% in July, compared to 1.6 % in June, according to the index, below the 2% target of the federal Reserve.
Mylan NV was down 4.88 percent after the EpiPen maker said delays in launching key new drugs and eroding prices for generics in the United States would hurt its profitability this year and in 2018. Brent crude edged down by 0.13 percent to trade at $51.82 a barrel and USA crude shed 0.06 percent to trade at $48.56. Germany's DAX was flat, while France's CAC 40 fell 1.1 percent.
In the bond market, treasuries are extending the notable upward move seen in the previous session.
Benchmark US 10-year notes last rose 6/32 in price to yield 2.1905 percent, from 2.211 percent late on Thursday. Hong Kong's Hang Seng Index plunged by 2%, while South Korea's Kospi Index slumped by 1.7%.
Nauert says the pressure by the US and others on Pyongyang "is working".
In contrast to the USA market, global equities remained weak.
Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high. The forecast is for consumer prices in the world's biggest economy to increase by 0.2 percent over the previous month and 1.8 percent over the same month in 2016.
I think there is still time for other measures, sanctions, diplomacy and all those kind of things", the former spy master warned. Trump's warning came after the North threatened to fire ballistic missiles over Japan towards the US Pacific island of Guam.
Andrew Stevenson replaced Harper in the team's lineup. "I'm very optimistic that he'll be at least fine shortly". In an effort to avoid contact with Giants first baseman Ryder Jones , Harper slipped on the base.
However, as mentioned, the situation does seem serious and that could have a very real impact on the filming process. Tom Cruise has been injured during the filming of a stunt on the set of Mission Impossible 6 .
They were organised and you could see they had a clear game plan, but we've got quality and eventually it made the difference. Kyle Walker , Bernardo Silva , Danilo , Benjamin Mendy and Ederson have all arrived as City splashed out over £200million.
According to optometrist Wes Wheadon looking at the sun without or with improper eyewear can have devastating effects. Doctors say that watching the phenomenon without proper protection can cause serious eye damage or even blindness.
The river water was found to be 19 times more corrosive than water from Detroit causing lead poising in many of Flint's residents. The Detroit Free Press is reporting the singer stated he will give $ 1 million to victims of the water crisis.
"7 SCD volunteers were killed by unknown armed men in Sarmin SCD center, Idlib, in the morning", the White Helmets said. Volunteers of the famed rescue service were shot dead during an attack on their office in the town of Sarmin. .
Overall, 18 teams take home winnings, but only Team Liquid was able to claim The Aegis, The International 7's trophy. The day began as EU-based Team Liquid played in the third round of the lower bracket against Russian Team Empire.
The two tourists were fined almost $600 each but were permitted to leave the country with their tour group, police said. According to official accounts, the unknown attacker fled the scene and is now being sought for causing bodily harm.
The 2017 eclipse is the first total solar eclipse visible in the continental United States since February 26, 1979. The Oak Ridge Public Library will give out 500 pairs of eclipse glasses to library patrons on Monday, August 14.
Singh as their leader in place of Yadav in the House. "After we issued a whip to our MLAs, they voted for the Congress. However, Mr Yechury said the Left has a problem with such a programme. "Such meetings are not effective".
Union Minister Patel present at the press conference said that the central government is ready to give full support to the state. What is shocking to know is that the oxygen supply department in the hospital had already warned about shortage.
Army Men, 3 Militants Killed In Shopian Encounter
The troops blasted a mosque and four residential houses during the operation that began late last night in Awneera area. Over a dozen civilians were injured as the security forces fired live ammunition to quell the stone-pelting mobs.