Tillerson urges calm on North Korea, says no imminent threat

11 August, 2017, 00:12 | Author: Pamela Mathis
  • Stocks faded into the close Tuesday spooked by a comment from President Trump about the North Korea situation

The Standard & Poor's 500 index slipped 0.90 of a point, or 0.04 percent, to 2,474.02.

We are anticipating the Dow Jones to open 48 points lower at 22,000 and we are calling the S&P 500down 9 at 2465.

After a dip of as much as 0.52 percent earlier in the day, investors appeared to take some comfort in Tillerson's comments, said Richard Steinberg, managing director at HighTower Advisors in NY.

The dollar index fell 0.14 per cent, with the euro unchanged at US$1.1757.

Substantial weakness was also visible among internet stocks, as reflected by the 2.8 percent slump by the Dow Jones Internet Index.

The dollar index, which tracks the greenback against a basket of six major rivals, was almost flat on the day at 93.657, remaining above last week's 15-month low of 92.548.

It is unclear whether North Korea would risk firing missiles so close to USA territory, which could provoke countermeasures and further escalation. However, strength in the Health Care and Materials sectors limited the losses. A small correction during August could set the direction for the next movement in the stock markets. The yen and gold continued rising, while the Swiss franc took a breather against the dollar (last trading at 0.9660 francs) and the euro, but kept most of its yesterday's hefty gains.

The CBOE Volatility Index, the most widely followed barometer of expected near-term stock market volatility, rose to a near three-month high of 15.36.

Karrueche Praises Rihanna's Crop Over Look
In an on-street interview , Karrueche gave her take on RiRi's curves and ex-boyfriend Chris Brown reacting with emoji eyes. Rihanna has been busy promoting her latest acting role in Luc Besson's Valerian, alongside good friend Cara Delevingne.


News late Tuesday that North Korea was reviewing plans for an attack on USA military assets on the island of Guam came just hours after President Trump had warned that continued threats would be met "with fire and fury like the world has never seen".

"Most investors will be completely out of their depth in making any assessment on the (North Korea) situation", said Koon Chow, emerging market FX strategist at fund manager UBP.

Oanda analyst Craig Erlam said: "Risk aversion is once again the name of the game.as geopolitical tensions mount and investors head for cover in the traditional safe havens". But the moves were modest. It rose $16, or 1.3 percent, to $1,278.60 an ounce.

Data showed US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week.

"We would now be careful with a whiff of risk aversion in the air and, by extension, also stay away from shorts in the rates market", RBC's global macro strategist Peter Schaffrik said.

Options traders gear up for Snap's second earnings report as a public company.

Priceline Group slid 6.9 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting. Netflix lost 1.5 per cent.

The pan-European FTSEurofirst 300 index lost 0.75 per cent and MSCI's gauge of stocks across the globe shed 0.33 per cent.

Recommended:

  • Ford F-150: Taking Things Up A Few Notches

    Ford F-150: Taking Things Up A Few Notches

    Gas mileage is boosted thanks to the segment-exclusive SelectShift 10-speed automatic transmission. If it's maximum towing you're interested in, mind, you'll need the larger of the EcoBoost pair.
    North Korea threats; China aluminum; Disney ditches Netflix

    North Korea threats; China aluminum; Disney ditches Netflix

    The report said labor productivity climbed by 0.9% in the second quarter after inching up by a revised 0.1% in the first quarter. The Canadian dollar was trading at 78.64 cents USA , down from an average price of 78.71 cents United States on Wednesday.
    Tottenham man speaks about challenges of playing in Wembley

    Tottenham man speaks about challenges of playing in Wembley

    Tottenham have a disappointing past record at the national stadium, winning just two of their last 10 competitive matches there. The English core of the Spurs team means, in the countdown to Russian Federation 2018, they will be under extra scrutiny.
  • IPhone 8's Home Button Area Functionality Revealed

    IPhone 8's Home Button Area Functionality Revealed

    Its indicator can also be hidden meaning that apps running in full-screen won't have a virtual home button to distract users with. UBS AG reissued a "buy" rating and issued a $151.00 price target on shares of Apple in a research note on Monday, April 24th.
    Wisconsin linebacker Jack Cichy will miss 2017 season with torn ACL

    Wisconsin linebacker Jack Cichy will miss 2017 season with torn ACL

    He played in just three games his freshman year and eight his sophomore year because of injury before redshirting the next year. He's more than capable to take over as the starter and don't be surprised to see the defense not miss a step in Cichy's absence.
    OJ Simpson's Infamous Highway Chase Bronco Could Fetch $500K On 'Pawn Stars'

    OJ Simpson's Infamous Highway Chase Bronco Could Fetch $500K On 'Pawn Stars'

    It was five days after Simpson's ex-wife, Nicole Brown Simpson, and Rob Goldman had been found murdered. He was granted parole last month and is scheduled to be released sometime in October.
  • Time To Rake In Healthy Returns From Hertz Global Holdings, Inc. (HTZ)

    It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment. Analysts await Hertz Global Holdings, Inc (NASDAQ: HTZ ) to report earnings on Aug, 08 for the fiscal quarter ending Jun 2017.
    Overwatch League welcomes London and second Los Angeles franchise

    Overwatch League welcomes London and second Los Angeles franchise

    The Overwatch League is expanding once again, as today Blizzard announced new teams in Los Angeles and London . London , England, will be the future home of Cloud9's Overwatch League franchise.
    Lockheed Martin Corporation (NYSE:LMT) Reaches New 1-Year High at $299.75

    Lockheed Martin Corporation (NYSE:LMT) Reaches New 1-Year High at $299.75

    On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. Rubel now expects that the aerospace company will earn $12.75 per share for the year, up from their previous forecast of $12.65.
  • Colbert interviews 'God' about Trump taking out North Korea

    Colbert interviews 'God' about Trump taking out North Korea

    While saying the president should "back off" his rhetoric a bit, Kennedy advocated a clear message to the North Korean dictator. Tonight: The frightening rhetoric between President Trump and North Korea has Stephen taking cover.
    NBA Live 18 Launches on September 15, Pre-Order to Save $20

    NBA Live 18 Launches on September 15, Pre-Order to Save $20

    They also reiterated that the demo for the game will be launching tomorrow, on August 11. NBA LIVE 18 introduces this year's cover athlete, Houston Rockets guard James Harden .
    Guam told to 'enjoy paradise', ignore North Korean threat

    Guam told to 'enjoy paradise', ignore North Korean threat

    Andersen is also host to fighter planes and the aerial tankers that make long-distance strikes on North Korea possible. He's right: This time, North Korea has detailed plans for a missile test that would land in the waters near Guam .


Popular

Sarah Harding Opens Up About Cheryl On Celebrity Big Brother
She lamented: 'I know I've had my trials and tribulations throughout the years, a lot of which have been documented, a lot of which have been misconstrued.

Lassa fever: LUTH creates additional space for new cases
Today is 14 days of monitoring and we hope in the next seven days, they will be discharged from monitoring list. He added that each of the cases had been managed in other facilities before they were referred to LUTH.

Sushma Swaraj in Nepal for BIMSTEC meet, meets PM Sher Bahadur Deuba
On the first day of her visit, EAM called on Hon'ble President Bidya Devi Bhandari and Prime Minister Sher Bahadur Deuba. This will be his maiden foreign visit since taking over in June as part of a power-sharing agreement.

Infected DNA successfully hacks computer in terrifying experiment
This week security researchers detailed how they were able to hack software using DNA that has been injected with malware. The researchers created a synthetic DNA strand that contained malicious computer code encoded in the bases of the DNA.

Microsoft is making Outlook.com faster, smarter and just plain better
According to Microsoft, Outlook.com Premium customers don't now have access to beta, but this will be available at a later date. One of the improvements of the new version is a preview feature that shows file and photo previews in the conversation list .

GOP Leadership Waves the White Flag on Real Immigration Reform
Every points system, no matter how well designed, will have its shortcomings and will favor certain interests over others. But for anyone interested in the long-term effects this president will have on America, the problem is the opposite.

Pink's new album Beautiful Trauma will be released in October
Earlier this year, Pink teamed up with Sia and Norwegian songwriting duo Stargate for the track "Waterfall" . We told you to get excited! Then comes the explosive chorus: " What about us? ".

What to expect from M&G's tie-up with Pru
Insurance analyst Eamonn Flanagan , at Shore Capital, said the United Kingdom business merger "makes enormous sense". Standard Life and Aberdeen Asset Management are merging next week to form a 670 billion pound active manager.

Tesla Model 3 battery output revealed
Originally, it was thought the only change to Autopilot hardware for the new Model 3 was the addition of a driver-facing camera. It's the world's biggest battery factory and central to Tesla's plans for mass production of its new Model 3 electric auto .

South Africa minister in court on assault charges
Ministers and deputy ministers are entitled to VIP police protection. "Arrest is not a form of punishment", the minister added. Manana is accused of allegedly slapping a woman in a Johannesburg nightclub early on Sunday morning.