Wall St stops stocks' bleeding, for now; gold, yen tick up

12 August, 2017, 12:24 | Author: Pamela Mathis
  • European Shares Plummet

More than 430 stocks from all USA exchanges hit their lowest levels in 52 weeks or more on Thursday, the most for any session since mid-November right after Trump was elected.

Disappointing economic data releases weighed on both sides of the Atlantic today with a negative goods trade balance for the United Kingdom (-0.1% versus expectations of 1.4%), higher unemployment claims from the U.S. (244,000) and also a negative month-on-month PPI figure for the USA (-0.1%).

ANALYST TAKE: "We're seeing significant risk aversion in the markets on Wednesday, with the escalation in tensions between the USA and North Korea triggering moves into safe haven assets", said Craig Erlam, senior market analyst at OANDA.

The pan-European FTSEurofirst 300 index .FTEU3 lost 1.11 percent.

Many markets have climbed to record or multi-year highs, leaving them vulnerable to a sell-off.

The North Korea situation isn't the only thing weighing on stocks. The dollar index slipped to a one-week low on Friday after the USA data.

The Dow Jones industrials average gained 14.31 points, or 0.1 percent, to 21,858.32.

Global markets have been on edge since Tuesday, when President Donald Trump warned North Korea of severe retribution should the authoritarian state proceed with any more missile tests or threats. The Fed, which raised its key interest rate in March and June, has signaled it plans a third rate hike before the end of this year. The stock has more than doubled over the past 12 months, gaining more than 160%.

Equity markets had traded with a soft tone in Europe and there was a sharp increase in selling pressure in NY with the S&P 500 index declining by close to 1.0%.

Android O Will Be Last Major Update For OnePlus 3, 3T
So today the Chinese company's Head of Product, Oliver Z., has chose to answer a few questions on the matter. Therefore, it's safe to assume that the new firmware will hit the OnePlus 3 and 3T before the year end.

Minneapolis Fed President Neel Kashkari, who has advocated for the Fed to halt interest rate hikes until inflation picks up gain, on Friday said his colleagues are telling each other "a ghost story (http://www.marketwatch.com/story/feds-kashkari-says-central-banks-hawks-are-spooked-by-ghost-story-of-higher-wages-2017-08-11)" about higher wage inflation that scared them into raising short-term rates.

J.C. Penney sank 16.6 percent after the struggling department store chain reported quarterly results that fell short of Wall Street's expectations.

Benchmark 10-year notes last rose 7/32 in price to yield 2.1888 percent, from 2.211 percent late on Thursday.

U.S. crude rose 0.41 per cent to US$48.79 per barrel and Brent was last at US$52.01, up 0.21 per cent. Silver gained 1 cent to $17.07 an ounce.

The dollar last changed hands at 108.96 yen, down 0.2 percent. The euro fell to $1.1728 from $1.1757. The index bounced off its lowest closing level in six months. While the German DAX Index closed just below the unchanged line, the UK's FTSE 100 Index and the French CAC 40 Index both tumbled by 1.1%.

Australian shares were down 1.2 percent, set for a weekly loss of 0.5 percent.

There were falls of almost 2% on South Korea's Kospi and Hong Kong's Hang Seng, with markets in mainland China and Australia also down - taking their cues from sharp losses on Wall Street earlier.

It is "a bullish sign that the equity markets are rebounding somewhat on a Friday, in spite of the fact that investors will need to wait for two days to react to any geopolitical news that comes out over the weekend", said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas. Trading was thinner than usual, with Japanese markets closed for a public holiday.


  • President Trump Standing by Fiery Comments Towards North Korea

    President Trump Standing by Fiery Comments Towards North Korea

    It's unclear how accurate the North can be when launching intermediate-range missiles, putting Guam's 160,000 residents in danger. And China can help us in convincing North Korea they don't need nuclear weapons in order to do that.
    Buffalo Bills reshape team in two surprising trades with Rams and Eagles

    Buffalo Bills reshape team in two surprising trades with Rams and Eagles

    Among 82 corners targeted 40 or more times in 2016, Gaines ranked 58th at 8.1 yards allowed per pass, while Darby was 62nd at 8.4. In the worst-case scenario, Watkins , who is coming off foot surgery, gets hurt again and walks away as a free agent next spring.

    PACCAR Inc (PCAR) and Sun Life Financial Inc

    Jones Collombin Investment Counsel Inc increased its position in shares of Sun Life Financial by 20.2% in the second quarter. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases.
  • Were police morally right to pay a paedophile to inform?

    Were police morally right to pay a paedophile to inform?

    Judge Moreland added: 'There is no evidence that any of the proper procedures for the handling of informants were breached'. Northumbria Police could not be more adamant that it was indeed essential. 'No matter what I do, it will affect my family'.
    Apollo Global Management, LLC C (APO) Sees New 52-Week High

    Apollo Global Management, LLC C (APO) Sees New 52-Week High

    Morse Asset Management Inc's holdings in Apollo Global Management were worth $606,000 as of its most recent filing with the SEC. Goldman Sachs Group Inc downsized its investment by selling 5,673,993 shares a decrease of 95.9% from 12/31/2016 to 03/31/2017.
    Trump says diplomats expelled from Russian Federation  save U.S.  money

    Trump says diplomats expelled from Russian Federation save U.S. money

    However, the president did not divulge any details as to how the United States is planning to tackle the North Korean threat. During the Obama administration, reporters recall being told who President Barack Obama was golfing with and when.
  • Jose Mourinho says Zlatan Ibrahimovic may re-sign for Manchester United

    Jose Mourinho has confirmed Manchester United are in talks with Zlatan Ibrahimovic over a new deal. He thinks he can do more and wants more at the highest level.
    Upgrades Rating On Wal-Mart Stores, Inc. (WMT) To

    Upgrades Rating On Wal-Mart Stores, Inc. (WMT) To "Overweight"

    British Columbia Investment Management Corp's holdings in Wal-Mart Stores were worth $57,359,000 as of its most recent SEC filing. Other institutional investors have also bought and sold shares of the company. 77 funds opened positions while 479 raised stakes.

    Half of Republicans support postponing 2020 election if Trump asked

    The increase was driven largely by independents, 59 percent of whom disapproved of Trump's job performance, compared to 50 percent in February.
  • Laboratory Corporation of America Holdings

    The medical research company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.07. Credit Suisse Group reiterated a "buy" rating on shares of Bank of America Corporation in a research report on Sunday, June 4th.

    US stocks slide amid heightened US-North Korea tensions

    Falls of just 0.3% were recorded by both the Dow Jones industrial average and the more broad-based S&P 500 in early trading. President Donald Trump said his earlier threat to unleash " fire and fury " on North Korea " maybe wasn't tough enough ".
    Guam, Accustomed to Weathering Storms, Braces for Threat of Missiles

    Guam, Accustomed to Weathering Storms, Braces for Threat of Missiles

    An Alaska senator said he is anxious about a possible North Korean missile attack on his state and the rest of the country. But Mistry said the focus should now be on getting out of the shouting match. "You are safe", the president said.


'Mad Dog' Mattis to Kim Jong-Un: We win, you lose
The Secretary spoke to reporters at the Pentagon's Defense Innovation Unit Experimental, also known as DIUx, in Mountain View. Security Council unanimously voted last week to characterize North Korea's statements as a "threat to the world's community".

Xact Kapitalforvaltning AB Has $30.40 Million Stake in Home Depot, Inc
C M Bidwell & Associates Ltd increased Hormel Foods Corp (NYSE:HRL) stake by 83,597 shares to 99,352 valued at $3.46M in 2016Q4. It worsened, as 84 investors sold HD shares while 664 reduced holdings. 37 funds opened positions while 134 raised stakes.

Salma Hayek wishes good luck to Akshay for 'Toilet:Ek Prem Katha'
The satirical comedy film is also said to be a part of Indian Prime Minister Narendra Modi's Swachh Bharat Abhiyan initiative. Released in over 3000 screens in India, Toilet Ek Prem Katha witnessed 30-35 per cent occupancy on the first day.

Tax Free Holiday this weekend
Those items priced under $100 that are sold for use by elementary and secondary students are exempt during the sales tax holiday. Anyone who wants to shop and avoid traffic, the Waco area transit is offering free rides on all fixed routes on Saturday.

This Poor Bills Fan Purchased Sammy Watkins Jersey Hours Before Trade
In 37 career games in Buffalo, Watkins had 153 catches and 17 touchdowns, although he missed 11 matches over the last two seasons. Buffalo is also retooling its receiver position, with the trade coming four days after signing veteran free agent Anquan Boldin .

Canadian Natural Resources Limited (CNQ) Lowered to "Neutral" at Citigroup Inc
Stratos Wealth Prtn Ltd stated it has 1,265 shares or 0.01% of all its holdings. 37 funds opened positions while 82 raised stakes. The Clifford Swan Investment Counsel Llc holds 126,980 shares with $21.08 million value, down from 133,199 last quarter.

Jose Mourinho: 'I will not cry over transfers'
United kick off their Premier League campaign at home to West Ham on Sunday, having won six of their seven pre-season friendlies.

Noble Energy Inc. (NBL) Upgraded to "Neutral" by Seaport Global Securities
Blackrock Institutional Tru Communications Na stated it has 0% in Central European Media Enterprises Ltd. (NASDAQ:CETV). Noble Energy, Inc. on 6/29/2017 reported its EPS as $-0.07 with the analysts projecting the EPS of the stock as $-0.24.

National Football League losing the PR battle with handling of Bryant
According to Colbert, Bell is "only hurting himself" by not participating in practices as he negotiates for a new contract. He won't figure into the regular-season backup plans in 2017, but he will see some playing time on Friday.

Houghton Mifflin Harcourt Company
The stock witnessed 12.58% gains, -1.38% declines and -5.79% declines for the 1-month, 3-month and 6-month period, respectively. It purchases, sales and transports natural gas liquids throughout North America, as well as exports NGLs to overseas markets.