Gold Beats US Stocks As North Korea Worries Drive Haven Demand
13 August, 2017, 13:56 | Author: Terri Saunders
They outweighed gains in health-care stocks and elsewhere. Utilities companies were down the most.
"It's been a bit of a roller coaster this week, with all the rhetoric between the U.S. and North Korea", said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. Eastern time. The Dow Jones industrial average slid 120 points, or 0.5 percent, to 21,928.
The Nasdaq composite lost 18.13 points, or 0.3 percent, to 6,352.33.
Many Asian currencies struggled, with the Korean won heading for its sharpest fall in almost eight weeks. "Although it is considered highly unlikely that this tension will escalate into a nuclear war, the market still needs to see how President Trump will eventually deal with his advocating "fire and fury" against North Korea's threat", said Margaret Yang Yan, market analyst at CMC Markets Singapore.
Investor sentiment turned negative after North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific territory of Guam in an unusually detailed threat.
There were fewer signs of anxiousness in the markets Friday.
Most large-cap stocks were mixed across the board. It's still the highest it's been since May. Panasonic was off 0.74 percent to sit at 1,475.5 yen.
Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control. "Should we see another dip in inflation in July, it could make the job of building a consensus for another rate hike this year more hard". But some economists say the Fed may stand pat for the rest of 2017 unless inflation accelerates in coming months.
Elsewhere in commodities, the September crude contract advanced 20 cents to $49.76 per barrel and the September natural gas contract was up seven cents to $2.95 per mmBTU.
Health-care stocks, which have been in a slump, posted gains. Perrigo rose $2.17, or 2.8%, to $79.01.
DJ's Lawsuit Against Taylor Swift Dismissed
She also said that she was doing this as an example for young victims of sexual assault around the world. Mueller, 55, had sued the pop star for $ 3m, saying that the 27-year-old cost him his job.
Until then, Wall Street surprised by its low volatility, wrote on Tuesday.
US stocks closed slightly lower Wednesday, making up much of the ground they lost earlier following a rare batch of earnings disappointments by Walt Disney and other big companies. Gold miners bucked the 1.3 per cent fall for Australia's benchmark index.
After hurrying to sell off richly-valued stocks this week, investors appeared to be reassessing the geopolitical risks, according to Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas. AES Corp. shed 26 cents, or 2.3%, to $11.12.
But then oil prices succumbed to the overall selling pressure for risky assets, aided by an OPEC report showing crude production by cartel members increased slightly in July, including Saudi Arabia, which had championed efforts by the organization and its allies to extend an output freeze. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London.
The dollar slipped to as low as 109.11 yen in early Asian trade on Friday, its lowest level since June 14, when the greenback had fallen to as low as 108.81 yen. The euro fell to $1.1735 from $1.1752. Prices for bonds and gold headed higher.
Major stock indexes overseas didn't fare any better. Germany's DAX was up 0.1%, while France's CAC 40 fell 1.1%.
In the United Kingdom, the FTSE 100 closed down 0.59%, or 44.67 points, at 7498, broadly in line with negative trends in European markets.
A Reuters Datastream index of more than 7,000 stocks across the globe saw its market capitalization drop from a record high $61.36 trillion on Monday to $60.43 trillion at the close on Thursday.
This article was originally published at 6:55 a.m.
Mannarino became the fourth established ATP player this week to fall at the hands of the 18-year-old left-handed Canadian. He saved the first with an ace but Ferrer made no mistake with his second set point, converting to take the opener 6-4.
He explains that, whenever the Earth, moon and sun align to form a solar eclipse , the event is visible somewhere on Earth. Make sure you don't directly look at the sun during the eclipse unless you have special eye protection.
As part of its defenses on Guam, the United States installed a Terminal High Altitude Area Defense system in 2013. Guam's Homeland Security Adviser George Charfauros urged calm and said defenses are in place for such threats.
With Giroud replacing Holding, Wenger switched the formation from a 3-4-2-1 to a 4-4-2 with Giroud and Lacazette up front. And so they did, within two minutes. "Overall we looked better defensively at the end of the [2016-2017] season".
The ball bounced high off a rock and settled into what he called "the worst lie I've seen all week" in the deep Bermuda grass. While Kisner was the story early in the day, the weather took the stage as the afternoon wave of players took to the course .
The soldier reportedly used blocks of Styrofoam as floats for his back and shoulders to survive the risky swim. At least one of the soldiers defected after hearing South Korean loudspeaker broadcasts at the border.
Housebuilders Persimmon and Barratt Developments were among the biggest gainers of the day, up 1.58% and 1.02% respectively. In oil, the price of Brent crude sunk by 0.5% to 51.65 USA dollars a barrel amid concerns about over supply in the market.
Tesla is raising $1.5 billion as it ramps up production of the Model 3 sedan, its first mass market electric auto . The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion.
Lim's case at all levels, and we will continue to support him and his family now that he has returned", the statement said. He was sentenced to hard labor for life in December 2015 on charges of attempting to overthrow the Pyongyang regime.
Markets Right Now: Stocks drift lower on Wall Street
The Nasdaq finished the day at 6,216.87, a slide of 135.46, while the S&P 500 lost almost 1.5 percent, ending the day at 2,438.21. Investors bought safe-haven assets such as gold, helping the precious metal touch a two-month high, and the Japanese Yen rose.
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More than a dozen people held signs, chanted and marched around the statue of Andrew Jackson as a protest against racism. Police took a man into custody as the subject of a homicide investigation, Charlottesville Police Chief Al Thomas said.