Stock markets slip as North Korea tensions build

12 August, 2017, 21:42 | Author: Terri Saunders
  • President Trump promises

On Thursday, the three major USA indexes logged their worst performances since mid-May (http://www.marketwatch.com/story/us-stocks-set-up-for-another-day-of-losses-as-north-korean-tensions-simmer-2017-08-10) in a session dogged by geopolitical concerns.

In 3.16pm trading in NY, the Dow Jones Industrial Average fell 0.3 percent, while the Nasdaq Composite Index declined 0.5 percent.

The Dow and S&P 500 inched higher on the day but they both posted their largest weekly percentage drops since late March.

Nasdaq 100 e-minis were down 17 points, or 0.29 percent, on volume of 36,232 contracts.

North Korea said it was considering plans to fire missiles at Guam, a US -held Pacific island, after President Trump's warning on Tuesday.

"As a portfolio manager, you say, 'Do I think we'll get a war out of this?' " said Torsten Slok, chief global economist at Deutsche Bank, referring to the bluster between North Korea and President Donald Trump.

Six out of the S&P 500's 11 major sectors closed positive on August 9.

The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday.

The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment.

The Duke Energy Corporation (DUK) Receives "Hold" Rating from BMO Capital Markets
BidaskClub lowered shares of Duke Energy Corporation from a hold rating to a sell rating in a report on Thursday, July 6th. Shares of DRE have uptrended 3.08% in the past three months, while the S&P 500 has moved -2.39% in that time.


After touching a more than two-month high at $1,291.86, spot gold last added 0.2 percent to $1,288.81 an ounce.

"This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands", Iger noted.

David Madden, market analyst at CMC Markets, said: "Stock markets in Europe are still feeling the pressure from the tension surrounding North Korea". The slide deepened after Trump's remarks on North Korea aired.

Nevsun Resources Ltd offset some of the material group's gains, plunging 16.4 percent to C$2.75 after the company reported disappointing quarterly results.

Office Depot tumbled 22.4 percent after the office supplies retailer's quarterly results came in below estimates.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners.

Benchmark US 10-year notes last rose 6/32 in price to yield 2.1905 per cent, from 2.211 per cent late on Thursday.

CURRENCIES: The euro slipped 0.1 percent to $1.1176 while the dollar was steady at 109.20 yen.

"The escalation of the geopolitical situation between the US and North Korea is beginning to rattle investors' nerves as was witnessed in the VIX index yesterday", said Peter Cardillo, chief market economist at First Standard Financial.

Recommended:

  • S&P falls 1.4 pct in safety flight on N. Korea tensions

    S&P falls 1.4 pct in safety flight on N. Korea tensions

    The U.S. dollar was down 0.3% at 110.01 yen which hurt the share prices of motor-vehicle makers, technology companies and banks. When Iraq invaded Kuwait 27 years ago this month, the S&P 500 fell 1.1 percent, and was down 9.3 percent 20 days later.
    Giroud wants to stay and fight for his place, claims Wenger

    Giroud wants to stay and fight for his place, claims Wenger

    Arsenal , meanwhile, have not won their first Premier League game of the season at the Emirates in three of the past four years. The Gunners are at the top of the table and thank the football gods the Premier League is back.
    Craig Shakespeare expects Danny Drinkwater to stay at Leicester this summer

    Craig Shakespeare expects Danny Drinkwater to stay at Leicester this summer

    However, Shakespeare believes the midfielder, a product of United's academy, will remain at the King Power Stadium this summer. I have always answered this question, not only once but twice, three times'.
  • Roberto Aguayo cut by Buccaneers following rough preseason game

    Roberto Aguayo cut by Buccaneers following rough preseason game

    As expected, Koetter wasn't happy with Aguayo's missed kicks on Friday and made it very evident following the team's 24-12 loss. The Bucs traded up into the second round to draft Aguayo after he was an All-American kicker at Florida State.

    Hewlett Packard Enterprise Company (HPE) EVP Sells 15333 Shares of Stock

    The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link . The company's shares were given away at $17.45 per share worth to an income of some $2,415,097 on account of WHITMAN MARGARET C.
    If North Korea attacks USA , it 'will regret it fast'

    If North Korea attacks USA , it 'will regret it fast'

    But he says that, until that happens, the United States "will be the most powerful nuclear nation on earth, by far". Navy aircraft carrier strike group or Marine Corps Expeditionary Unit off the Korean Peninsula right now.
  • PCB chairman in Sri Lanka to attend ACC meeting

    PCB chairman in Sri Lanka to attend ACC meeting

    ESPN said that Pakistan are also set to travel to the UAE from September 21 for a full series against Sri Lanka. However, the final call over the World XI matches is expected to be taken by the government.
    Michael Carrick expects Premier League title challenge from Manchester United

    Michael Carrick expects Premier League title challenge from Manchester United

    The first week of the season is always one of the hardest to predict, but our writers have a lot of confidence in the top six. The Spanish manager believes the signings were needed to freshen up an ageing squad ahead of the new season.
    3.5mn N.Koreans sign up to fight against US

    3.5mn N.Koreans sign up to fight against US

    Security Council resolutions. "All the people are rising up across the country to retaliate against the U.S. thousands of times". State news agency KCNA has reported such mobilisations all over the country on Thursday and Friday.
  • OpenAI's Dota 2 bot defeats world's best pro player

    OpenAI's Dota 2 bot defeats world's best pro player

    In the second match, the player surrendered themselves, and the third time refused to play by asking "complete mockery" of it. Dota 2 is normally played as a 5-vs-5 team game, so limiting the bot to a 1-on-1 match greatly reduces the complexity.
    Pakistan again violates ceasefire in Poonch, one jawan martyred

    Pakistan again violates ceasefire in Poonch, one jawan martyred

    A lady was killed when Pakistan damaged truce in Jammu and Kashmir's Mendhar part at 5:30 am on Saturday. She was standing in front of her house when the splinters hit her.
    North Korea says no negotiations over its nukes

    North Korea says no negotiations over its nukes

    And Trump's previous notion that China could simply solve this problem for everyone is magical thinking. "Not even close. They eventually agreed to measures that the US says will cost North Korea more than a billion dollars each year.


Popular

New faces on the Premier League merry-go-round
Another pointer towards a low-scoring affair perhaps is the absence of Eden Hazard who will miss the game with an ankle injury. However, the 24-year-old expects more of the same to come his way during the season due to his price tag.

Stephen Colbert Speaks for the Planet After Trump's Demented North Korea Threats
Yun and North Korean diplomat Pak Song II negotiated the release of imprisoned American college student Otto Warmbier in June. The early United States focus was on securing the release of several Americans held in North Korea.

'Never sell him' - Arsenal fans react to display of substitute against Leicester
A predictable Arsenal implosion followed, with Shinji Okazaki and Jamie Vardy putting Leicester in front. We encourage our midfield players to play balls in behind.

Jefferies Group Analysts Increase Earnings Estimates for Kinross Gold Co
On average, equities analysts anticipate that Kinross Gold Corporation will post $0.09 earnings per share for the current year. Contrarius Investment Management Ltd boosted its position in shares of Kinross Gold Corporation by 4.0% in the second quarter.

Everton v Stoke: Premier League preview, line-ups & predictions
Everton are ready to do their talking on the pitch after a summer in which they have made the size of their ambitions clear.

Real Madrid beats Manchester United to win Super Cup
I keep saying that. "And I think we're going to reach that level as a football team in the next couple of years". Yet United's starting XI cost €417 million (S$667 million), compared to Real's €273 million.

Denis Shapovalov says he doesn't remember taking that photo with Rafael Nadal
Haase will face the victor between second-seeded Roger Federer and Roberto Bautista Agut in the semifinals on Saturday. Mannarino defeated Hyeon Chung of South Korea 6-3, 6-3.

Se la Corea del Nord attacca Guam se ne pentirà amaramente
GLI SCENARI - Se la Corea del Nord dovesse lancia un attacco di minaccia agli Stati Uniti , la Cina dovrebbe rimanere neutrale. Ma l'escalation di tensione preoccupa la Russian Federation , che ha deciso di rafforzare i sistemi anti-aerei a Est.

Arsenal score two late goals for comeback win vs. Leicester City
Although Danny Welbeck leveled on the stroke of halftime, Vardy restored Leicester's lead after the break. They all deserve to play. "He is a fantastic guy as well - committed, he loves the club".

'Jersey Shore' Cast Reunite For E! Docuseries
In the clip, The Situation describes Pauly D as his former "boy in the house", but laments that they haven't spoken in five years. He also sports his famous "motorcycle-proof" hair even if he tries to wear more sensible hairstyles during the past five years.