North Korea Has Markets Nervous But Not Panicked

13 Août, 2017, 15:19 | Author: Marc Bacque
  • Persistent gold buying by local jewellers at domestic spot market stoked uptrend

With the sell-off on the day, the Nasdaq and the S&P 500 fell to their lowest closing levels in a month.

The major averages ended the session just off their worst levels of the day.

The Dow Jones Industrial Average rose 14.31 points to close at 21,858.32.

A weaker opening on Wall Street further added to the downward pressure in Europe.

If Friday's data points to strong U.S. inflation, it could raise concerns about further interest rate increases.

Rising costs for housing, medical care and food helped push the Consumer Price Index (CPI) up 0.1 percent in July, seasonally adjusted, after no change in June and a 0.1 decrease in May, the US Labor Department said.

Five of the 11 major S&P sectors were higher, with the technology's 0.80 percent rise leading the advancers. Netflix also fell, giving up $4.57, or 2.6 percent, to $173.79.

Investor focus now turns to Friday's U.S. consumer price index data.

Buying interest was somewhat subdued, however, as the ever-escalating war of words between President Donald Trump and North Korea continued to raise geopolitical concerns.

Nevertheless, the geopolitical uncertainty looks set to continue, dealers said, following Trump's fresh warning Thursday that his earlier threat to unleash "fire and fury" on the reclusive nuclear-armed state may not have been "tough enough".

Dollar slumps, Tokyo tanks as North Korea tensions spike
Significant strength was also visible among software stocks, as reflected by the 1.2% gain posted by the Dow Jones Software Index. The data comes amid tepid inflation that has remained below the Fed's 2 percent target, despite low unemployment.


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Investors instead turned to safe-haven assets such as gold, pushing it to a two-month high, and the Japanese yen rose. Shares of Michael Kors ended up 21.5 per cent, after the luxury goods maker raised its full-year revenue forecast.


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This week's increase in tension between North Korea and the US over North Korea's nuclear missile programme is a timely warning for investors to remain diversified, affirms a leading analyst.

"Military solutions are now fully in place, locked and loaded, should North Korea act unwisely. We see many of our new enquiries and clients using the opportunity to protect themselves against an uncertain future, especially given the unpredictability of both President Trump and Kim Jong-Un".

(Employees push a trolley laden with crates of one kilogram gold bars at the YLG Bullion International Co. headquarters in Bangkok, Thailand.Getty Images/Dario Pignatelli/Bloomberg) Gold has rallied 2.3% this week on the heels of renewed tension with North Korea.

Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent.

For the week, the Dow is down 1.1%, its biggest one-week drop since November.

The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon. The stock has more than doubled over the past 12 months, gaining more than 160%. Shares of Manulife, which reported better-than-expected results, fell after the company played down talk of a John Hancock spin-off. Asian and European stocks continued the sharp decline Friday.

The S&P 500 dropped the most since May and MSCI's gauge of stocks across the globe .MIWD00000PUS lost 1.1 percent in its third straight day of declines, as it pulled further back from all-time highs.

Trading was thinner than usual, with Japanese markets closed for a public holiday.

"A global stock market fund will have its fair share of value and growth companies, unlike -say- the FTSE 100 index which is predominately value-orientated with its bias towards energy, mining and financial, or the Japanese TOPIX which is growth-orientated with a predominance of consumer goods companies".

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    How North Korea Tensions Impact Stock Markets — Interview

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    THE QUOTE: While the tough talk about the potential for nuclear war is scary, investors have heard it many times before. Turning to the oil-linked loonie, it managed to post some gains relative to the greenback despite weakening oil prices.


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