Swiss Franc Consolidates After Rallying Hard on North Korea Tensions
12 August, 2017, 05:59 | Author: Pamela Mathis
Gold got an extra boost after data showed U.S. consumer prices rose less than expected in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year. The S&P shed 1.4%, its worst week since March, while the Nasdaq posted a weekly loss of 1.5%, its worst since June.
In other corporate results, a number of companies reported forecast-beating numbers.
Subdued U.S. inflation has stirred doubts about the chances of another Fed interest rate hike this year, which have weighed on the dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.2 percent in its third session of declines, heading for a 2.1 percent drop for the week.
U.S. President Donald Trump ratcheted up his rhetoric toward North Korea on Thursday, saying the reclusive communist country should be "very, very nervous" if it even thinks about attacking the United States or its allies. Should losses extend after markets open, it will mark Wall Street's fourth day in a row and the Dow's retreat from a record-making stretch at the beginning of the week that extended nine days.
Gold has rallied 2.3% this week on the heels of renewed tension with North Korea.
At 11:03 a.m. ET (1503 GMT), the Dow Jones Industrial Average .DJI was down 110.36 points, or 0.5 percent, at 21,938.34, the S&P 500 .SPX was down 19.12 points, or 0.77 percent, at 2,454.90.
Shares of Kohl's were down 8.4%, while Macy's fell 4% after the department store operators reported a fall in sales. The Shanghai Composite Index lost 0.2 percent to 3,275.57 and Hong Kong's Hang Seng was off 0.3 percent at 27,757.09. "This is mainly due to the fact that in the event of a crisis involving the U.S. directly, investors are more likely to seek refuge in an asset like gold which bears no country risk and also benefits when the dollar depreciates", Gambarini writes.
USA stocks fell sharply on Thursday, with the Dow slipping more than 100 points, as lackluster results from retailers Macy's and Kohl's added to investor nervousness over escalating tensions between the United States and North Korea.
The yen on Friday added to a strong weekly rally against the dollar of close to 1.5 per cent, hitting its highest versus the greenback in nearly four months, at 108.73 yen.
Currency traders consolidated positions in the Japanese yen and Swiss franc, and nudged up the dollar index by unwinding some of the recent big bets on the euro.
Earlier, the dollar slipped as low as 108.91 yen, its weakest level since June 14, when the greenback fell as low as 108.81 yen.
The biggest fallers were G4S down 24.7p to 305.9p, Standard Chartered down 20.9p to 783.1p, Prudential down 44p to 1,841.5p, Shire down 92p to 3,945p.
But losses soon resumed, with Tokyo edging down as the Nikkei again came under pressure from the strength of the safe-haven yen, which hit eight-week highs Wednesday against the dollar.
The data comes amid tepid inflation that has remained below the Fed's 2% target, despite low unemployment.
After touching a more than two-month high at US$1,291.86, spot gold last added 0.2 per cent to US$1,288.81 an ounce. It was on course for a weekly rise of about 5%, the biggest such gain since July 2016. Brent crude, used to price worldwide oils, added 26 cents to $52.96.
Governor Patrick, Speaker Straus and most state elected leaders will be up for election in November 2018. Krause is one of 49 GOP lawmakers in the State House who either authored or co-sponsored the legislation.
After their title winning campaign last season , FC's Stewart Robson thinks Chelsea will struggle to perform this season. No wonder the Italian coach cuts a frustrated figure heading into the start of Chelsea's Premier League title defense.
On August 18 the company was downgraded to "Hold" from " with a current price target of $1.50 by Evercore ISI Group. The Firm is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain.
The active investment managers in our partner's database now own: 59.59 million shares, up from 59.20 million shares in 2016Q3. Its minimum price target estimates has been figured out at $12 while the maximum price target forecast is established at $15.
Coburn finished in 9 minutes, 2.58 seconds, topping her Olympic time from a year ago by more than five seconds (9:07.63). Frerichs led for some of the final lap and was able to hold of the Kenya's Hyvin Kiyeng Jepkemoi at the line.
Romelu Lukaku looks to be the physical presence with a goal-scoring pedigree needed to replace Zlatan Ibrahimovic in attack. Craig Burley feels Pep Guardiola's back may be against the wall if he does not win any trophies with Man City this season.
How do we treat it? Doctors in the USA prescribe more opioids than in any other country, enough to medicate every American adult. More money also is needed for prevention, such as efforts offered by the Impact Coalition in Ohio County, he said.
After dropping the opening set to Nadal , who, with Andy Murray's withdrawal from the W&S Open next week could soon become world. Cheering from the stands were hockey great Wayne Gretzky and Olympic swimming victor Penny Oleksiak along with astonished fans.
5 players who shined in the Browns' preseason opener
Most notably last night, he blew up an end-around to Saints receiver Rashad Lawrence on 4th-and-goal late in the third quarter. It's been a while since that was true, though this is far from a flawless National Football League team.
Dean Foods Company (NYSE:DF) Downgraded by Wells Fargo & Company
In the last earnings report the EPS was $0.61 and is expected to be $0.82 for the current year with 90,915,000 shares outstanding. Zacks Investment Research downgraded ConAgra Foods from a "buy" rating to a "hold" rating in a research note on Monday, May 22nd.
"Avengers 4" starts production
When the Marvel historians document the war between Thanos and the Avengers , they'll say it all changed on Thursday. Both movies will also be shot entirely with IMAX cameras.
Is Stratasys Ltd. (SSYS) Finding Support or Hitting Resistance?
A month ago, they told us to expect earnings of US$0.06 per share while three months ago their EPS consensus estimate was US$0.05. Finally, Needham & Company LLC downgraded Stratasys from a "buy" rating to a "hold" rating in a report on Wednesday, May 17th.
Fifth Harmony Shares 'Angel' From Upcoming New Album
Fifth Harmony is available to pre-save on Spotify and pre-order on iTunes now . "There's nothing we can't get through together". The girls group will release their first self-titled album since the departure of Camila Cabello in December 2016.