North Korea tensions continue to weigh on global stocks
13 Août, 2017, 07:12 | Author: Marc Bacque
In his latest warning to North Korea, US President Donald Trump said on Friday military solutions were "fully in place" and referred to American weapons as being "locked and loaded" should the nuclear-armed nation act "unwisely".
USA stock index futures were lower on Friday as the escalating war of words with North Korea drove investors to seek safety in low-risk assets.
Wall Street stocks posted their biggest declines in almost three months Thursday as President Donald Trump doubled down on his warnings to North Korea over its nuclear program.
The Toronto Stock Exchange's S&P/TSX composite index fell 143.08 points to 15,074.25, with almost all of its sectors moving lower. Both the Nasdaq and the Russell are set for their third straight weekly decline.
The headlines about North Korea served as a spark to jolt investors out of complacency on the heels of an extended period of calm in the market, said McClellan who shared the following chart in a report.
Apart from geopolitical worries, some technical analysts like Tom McClellan, editor of the McClellan Market Report, blamed seasonality for this week's sharp retreat given August's record as a weak month for stocks.
Hong Kong's Hang Seng Index plunged by 2 percent, while South Korea's Kospi Index slumped by 1.7 percent.
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Chinese government-backed scholars said Beijing is deeply concerned about the latest statements from Trump and North Korea. The way to avert a war with North Korea is to have a conversation, and that's not happening, Hecker said.
Wall Street's fear gauge - the CBOE Volatility Index or the VIX - surged 44%, its second-biggest one-day jump of the year.
However, New York Fed President William Dudley said on Thursday he expected inflation to rise and suggested that the central bank was on track to raise rates once more this year.
In contrast to the US market, global equities remained weak.
An editorial in China's state-run Global Times (http://www.globaltimes.cn/content/1060791.shtml), published late Thursday local time, added to the pressure on Asian markets.
If the North Korean regime "does anything" to the U.S. or a USA ally "things will happen to them like they never thought possible", he told reporters on Thursday, according to Bloomberg.
Stock movers:Nordstrom Inc.(JWN) shares earlier rose after the retailer posted earnings that beat expectations (http://www.marketwatch.com/story/nordstrom-shares-rise-after-retailer-tops-views-sales-rise-2017-08-10) but the stock is trading mostly flat. Shares of J.C. Penney dropped 78 cents, or 17%, to $3.93 Friday after the department store's second-quarter loss exceeded expectations. The precious metal is often used as a safe-haven investment in times of economic uncertainty.
The Company designs and manufactures railcars and a range of components for the North American railcar and industrial markets. The transportation company reported $0.62 earnings per share for the quarter, hitting analysts' consensus estimates of $0.62.
In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers. Baidu has a 1-year low of $159.54 and a 1-year high of $233.37. (NASDAQ BIDU) traded up 0.41% on Friday, reaching $223.49.
Max Kepler and Eddie Rosario drove in three runs apiece as the Minnesota Twins dumped the Detroit Tigers , 9-4, in Detroit . But in the ninth inning, the end came quickly: Mikie Mahtook stroked a single into right field on Belisle's third pitch.
As for the visitors, the Foxes have also handed a club debut to centre-back Harry Maguire following his move from Hull City. Gary Neville lambasted new Arsenal defender Sead Kolasinac for his "irresponsible defending" against Leicester City .
The defence ministry has sanctioned the proposal, which suggested a requirement of 544 robots, army officials reportedly said. The Indian Army could soon turn to robots for help against stone-pelting mobs and terror attacks in the Kashmir Valley.
The nine-man panel, which is chaired by justice Biobele Georgewill, was inaugurated at the Aso rock villa Abuja on Friday. This comes days after the Acting President appointed a 7-man Judicial Commission headed by Justice Biobele A.
After a sacrifice bunt by Nola, Hernandez and Freddy Galvis found holes and delivered a pair of ground-ball hits to score runs. The Mets rebuild is centered around their starting pitching, which has been their downfall this season and last.
Women's Amateur Championship on Saturday and hope to end long droughts in Sunday's 36-hole final at the San Diego Country Club. Sophia Schubert and Albane Valenzuela advanced to the finals of the 117th U.S.
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