North Korea talk drags stocks lower; gold, yen rise

12 August, 2017, 15:10 | Author: Terri Saunders

The Standard & Poor's 500 index fell 8 points, or 0.4 percent, to 2,466 as of 2:45 p.m.

The Dow is down 123.95 points or 0.6% at 21,924.75, the Nasdaq is down 95.89 points or 1.5% at 6,256.44 and the S&P 500 is down 23.40 points or 1% at 2,450.62. The Nasdaq lost 135 points, or 2.1 percent, to 6,216. Shanghai Composite Index tumbled 1.6 percent to 3,208.54.

U.S. President Donald Trump issued a new verbal warning to Pyongyang on Thursday, saying that his previous promise to unleash "fire and fury" may not have been strong enough after North Korea responded with a threat to land a missile near the U.S. Pacific territory of Guam.

The move came after North Korea said that it was examining a plan to attack the U.S. island of Guam in the Pacific, prompting the markets' move out of riskier assets such as equities.

The Dow Jones industrial average fell 85 points, or 0.2 percent, to 21,962.

U.S. crude oil settled 0.4% lower at $49.17/bbl, as the U.S. Energy Information Administration said it forecasts U.S. crude production to average 9.9M bbl/day in 2018, the highest annual average production on record. The stock lost $5.23 to $101.75. EIA reported that United States crude inventories fell last week as refineries boosted output to the highest percentage of capacity in 12 years. The consumer sector's biggest drags were Walt Disney and Priceline.

Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. The stock shed $1.50 to $4.61.

Swansea's Paul Clement calls for Gylfi Sigurdsson transfer compromise
Sigurdsson has not played for Swansea since their first pre-season friendly at Barnet on July 12. We do not have another possibility to win our first game - this is the only one.


Gold prices - which were given a boost by safe haven demand - trended lower, after the yellow metal traded around two-month highs overnight. It is poised to end the week down 1.9 per cent. Humana rose $3.59, or 1.4 percent, to $253.81.

London's FTSE 100 opened about 0.5% lower with share indices in Germany, France and Italy also in the red.

The dollar was down 0.77 percent against the yen at 109.21 yen.

Futures markets were also pointing to a lower start for Wall Street, where missile makers have been the only significant gainers in recent days. Heating oil fell 1 cent to $1.63 a gallon. Hong Kong's Hang Seng was off 0.3 percent.

Insurers and banks, which invest in higher-yielding products such as foreign bonds, underperformed after U.S. Treasury yields fell on Wednesday, with the yields on the benchmark 10-year note hitting a six-week low. Gold (http://www.marketwatch.com/story/gold-trades-at-2-mo-high-as-north-korea-tension-boosts-haven-investments-over-stocks-2017-08-10) jumped 0.9% to $1,290.50 an ounce, trading at a roughly two-month high.

Missile makers Raytheon and Lockheed Martin have outperformed Wall Street by nearly four per cent in recent days and the Dow Jones US defence index is at a record high and on a seven-day unbroken run of gains. The stock fell 85 cents to 12.76. Brent crude, used to price global oils, declined 40 cents to $51.50 per barrel in London. Netflix lost 1.5 per cent. The dollar is down 0.21% against sterling at the time of writing and down 0.27% against the Japanese yen.

Sterling slid against the dollar below the $1.3000 mark.

Recommended:

  • Wellington Management Group LLP Has $622000 Stake in Twenty-First Century Fox, Inc

    Wellington Management Group LLP Has $622000 Stake in Twenty-First Century Fox, Inc

    Investors generally keep an extensive variety of technical indicators at their disposal for completing technical stock analysis. BidaskClub lowered Twenty-First Century Fox from a "sell" rating to a "strong sell" rating in a report on Thursday.

    Asia stocks, US$ extend slide as US-North Korea tensions intensify

    In commodities , US crude fell 0.67 percent to $49.23 per barrel and Brent was last at $52.58, down 0.23 percent on the day. That came after the S&P 500's biggest one-day fall in almost three months on Thursday, led lower by technology stocks .

    We're buying three more players - Guardiola

    Brighton knocked City out of the League Cup on penalties in 2008 following a 2-2 draw at the Withdean Stadium. And Matic has outlined the Premier League title as his main aim with Manchester United this season.
  • North Korea refuses to stop nuclear weapon development, threatens U.S.  over sanctions

    North Korea refuses to stop nuclear weapon development, threatens U.S. over sanctions

    Significantly, the sanctions were supported by China, which accounts for more than 90% of North Korea's external commerce. This is a "fundamentally flawed policy" the United States has been pursuing for four decades, Person added.

    PayPal Holdings, Inc. (PYPL) closed at $59.67 in the last trading session

    It turned negative, as 86 investors sold BMY shares while 529 reduced holdings. 99 funds opened positions while 342 raised stakes. Logan Capital Management Inc.'s holdings in Bristol-Myers Squibb were worth $497,000 as of its most recent filing with the SEC.
    Skoda Octavia vRS Specs and Features have Announced

    Skoda Octavia vRS Specs and Features have Announced

    The front fascia of the new Octavia RS gets new headlamps and adaptive front lighting along with a sporty bumper and mesh grille. Skoda has started accepting pre-booking for its upcoming models, the Rapid Monte Carlo and the Octavia RS, in the country.
  • Man Utd Players To Miss West Ham Clash

    I think we will be better off for having had a season at the London Stadium now and I hope our form improves there, although we won't find this out until our first home game in mid-September.
    Prudential Financial, Inc. (NYSE:PRU) Stake Decreased by Clearbridge Investments LLC

    Prudential Financial, Inc. (NYSE:PRU) Stake Decreased by Clearbridge Investments LLC

    Clearbridge Investments LLC's holdings in Prudential Financial were worth $878,000 as of its most recent filing with the SEC. BidaskClub raised shares of Prudential Financial from a "hold" rating to a "buy" rating in a report on Wednesday, July 12th.
    300m for Messi seems possible, says Klopp

    300m for Messi seems possible, says Klopp

    But with less than three weeks left before the transfer window slams shut, Di Maria's name is being discussed as well. Di Maria had a torrid time in England with Manchester United after a promising start.
  • Man City keeper Ederson: Pep Guardiola said to forget price tag

    Man City keeper Ederson: Pep Guardiola said to forget price tag

    Guardiola has identified that, to be successful in the Premier League, teams must be prepared to get the ball forward quickly. Brighton are thrown into the deep end as they begin life as a Premier League club with the visit of Manchester City .

    American Trust Investment Advisors LLC Has $340000 Position in HSBC Holdings PLC

    In other news, insider Jonathan Symonds bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 1st. Horizon Investments LLC purchased a new position in HSBC Holdings PLC during the second quarter worth approximately $945,000.

    Institutional Investors Are Dumping Coeur Mining Inc (NYSE:CDE)

    BidaskClub raised shares of Coeur Mining from a "hold" rating to a "buy" rating in a research report on Saturday, June 10th. The Firm has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina.


Popular

Early Uber Investor Sues Ex-CEO Travis Kalanick for Alleged Fraud
If Benchmark gets its way that board vote would be invalidated and Kalanick would be forced off the Uber board. This is expected to change the way investors deal with start-up founders in the future.

U.S. stocks fall on North Korea worries
On Tuesday, August 8, despite that new record high, the market pulled back and closed lower due to decreased risk appetite. ENERGY: Benchmark U.S. crude gained 39 cents to $49.95 a barrel in electronic trading on the New York Mercantile Exchange.

Muslim woman wins $85000 lawsuit after police remove her hijab
Powell filed the lawsuit in April 2016, alleging the police department had violated her First Amendment rights. Powell was arrested after police found a warrant under her name for a shoplifting incident, the CNN reported.

Pep Guardiola Looking To Add To His Manchester City Squad
It's tempting to look at last year's champions, Chelsea , as potential candidates for the title a second season in a row. If we win we are going to be at the top of the table or close to it as we begin our fight for the Premier League trophy.

SC: PUC must for renewal of vehicle insurance
Noting these abnormalities, the EPCA conducted a detailed study on the way forward and proposed a road map to the court. However, he added that the current regime only provides for a fine of Rs 1,000 for driving without a PUC certificate.

Retired Hudson to join Terriers' coaching staff
One club is playing in the top tier of English football for the first time in 45 years. If we do that throughout the course of the season, I am sure we will be all right.

Dig Safely New York to celebrate safety, education, community today
The affected utility companies will be notified of the intent to dig. 811 can be called from anywhere in the country. When you dig, you run the risk of hitting an underground utility, even if you are only digging a few inches.

Chandigarh Stalking Case: Police arrests Vikas Barala
The police are taking cognizance of the video and will use it against the accused to establish the case. After this decision, both the accused will be kept under judicial custody till August 25.

Sun-eating dragons, poisoned skies and other myths tied to solar eclipses
The next time a total solar eclipse will be visible for a vast majority of the United States will be nearly 100 years from now. CATE, the Continental American Telescope Eclipse, is an experiment more than two years in the making.

Antonio Conte: Chelsea need new signings for Premier League title
Antonio Conte is not the most loyal tactician in football but he is definitely a person who takes good care of himself. He suggested few fancied Chelsea's title chances this time previous year and not many would back the Blues now.