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. ShanghaiCompositeIndex 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.
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 HangSeng 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.
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.
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.
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.
These funds then begin to make their way towards gold , dollar, yen and the swiss franc as these are considered to be safe havens. Shares of Snap were down as much as 14.23 percent and hit an all-time low following a miss on revenue and daily active users.
The male passenger, who was injured, was able to walk away from the wreckage to a nearby home for help, police said. The Cessna C-172 crashed at about 10:20 a.m.at the end of Runway 17-35 near Candlelight Farms In New Milford.
Once again, Bam Adebayo was wearing a new Heat jersey and it looked just like the one that appeared in the " NBA 2K18" screenshot. For the 2017-18 season, home teams will choose which uniform they want to wear for each particular game on their schedule.
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.
Fred Bell, the vice chairman of the Palm Springs Air Museum, has been analyzing USA and North Korea relations for decades. And it was a three - it's $3 billion worth of exports of North Korea , over one third, being cut off.
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.
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 .
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.
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.
Japan deploys missile defence over N Korea threat to Guam
A THAAD battery includes a truck-mounted launcher, tracking radar, interceptor missiles and an integrated fire control system. According to the recent press report , which remains unverified by NPR, North Korea could have up to 60 nuclear weapons.
Global markets pressured by North Korea fears
The latest United States economic data cemented expectations that inflation will remain subdued amid a robust labour market. North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S.
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.