Tech companies lead broad slide in USA stocks; oil rises
13 Août, 2017, 15:20 | Author: Marc Bacque
A small rise in a measure of US consumer prices pointed to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year, which would be favorable to equity investors. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners.
"The slight bias to the upside (in stocks) is a result of the CPI number".
JJ Kinahan, chief strategist at TD Ameritrade, said geopolitics had "splashed cold water on the markets". Netflix was down 2.35 percent.
Until this week, the equity market had managed to shake off negative news, including previous saber-rattling over North Korea and failures in Washington to pass high-profile bills, such as repealing and replacing Obamacare.
Simmering tensions between the U.S. and North Korea have come back to the boil in recent days after Pyongyang disclosed plans to fire missiles over Japan to land near America's Pacific territory of Guam.
ASIA'S DAY: Earlier, Asia bore the brunt of the mounting geopolitical uncertainty, with South Korea's Kospi index closing down 1.7 percent at 2,319.71 and Hong Kong's Hang Seng ending 2 percent lower at 26,883.51.
In Europe, Germany's DAX fell 1.1 percent, while the CAC 40 in France lost 0.6 percent.
"Pretty remarkable, perhaps even extraordinary, considering", said Tim Ash, strategist at fund manager BlueBay.
Tigers confirm signing of Benji Marshall
Halves Tuimoala Lolohea and Luke Brooks performed well for the Tigers and should gain plenty of confidence from this showing. Marshall, 32, has signed a one-year contract with the Tigers which will likely see him end his career at Concord.
The CBOE Volatility Index.VIX, the most widely followed barometer of expected near-term stock market volatility, was up as much as 12.63 points, its highest in more than a month.
The Swiss franc, meanwhile, looked set for its biggest one-day rise in more than two years. The Russell 2000 index of smaller-company stocks gave up 8 points, or 0.6 percent, to 1,401. The Korean won fell against the United States dollar.
"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY.
The S&P 500 Index (SPX - 2,474.02) lost 0.9 point, or 0.04%.
The last time the S&P closed down more than 1 percent was May 17 when it fell 1.8 percent.
In bond markets, the yield on U.S. Treasuries fell, also pressured by the lowered expectations for a Fed move.
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.
The 30-year bond last /32 in price to yield 2.7933 percent, from 2.794 percent late on Thursday. Silver also rose, gaining 38 cents, or 2.3 percent, to $16.77 an ounce.
OIL: Benchmark U.S. crude gained 4 cents to $49.60 a barrel on the New York Mercantile Exchange. Brent crude, used to price global oils, slid 80 cents, or 1.5 percent, to $51.90.
Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry. Pacific island territory of Guam in an unusually detailed threat that further heightened tensions with the United States .
Point72 Asia Hong Kong Ltd acquired a new stake in shares of Summit Hotel Properties during the first quarter valued at $120,000. Equities analysts predict that Summit Hotel Properties, Inc . will post $0.87 earnings per share for the current fiscal year.
Do I have any regrets? "I really do not know how this work is done, but I do understand that it has to be done and done well". Actually, from the time I came in, there have been elements working against me, some of them from within the CBFC.
The Wall Street Journal was first to report that the legal team of special counsel Robert Mueller has started up a grand jury. US-Russia relation is extremely critical for the majority of the global affairs if one wants to find a peaceful solution.
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.
The vigil will be a time to remember those who were injured and killed at the rally in Charlottesville on Saturday, August 12. Police also said a helicopter crash that killed two Virginia state troopers outside Charlottesville was linked to the rally.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Thursday, June 1st. COPYRIGHT VIOLATION NOTICE: This piece was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport.
MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.55 percent, its biggest one-day loss since mid-December. USA crude (CLc1) was unchanged at $48.59 per barrel and Brent (LCOc1) was last at $51.84, down 1.63 percent on the day.
In the face of Saturday's United Nations sanctions, North Korea remained defiant, saying the UN's move was unwarranted and unfair. The sanctions can work only if North Korean leader Kim Jong Un concludes he has too much to lose by hanging on to his weapons.
FBR & Co set a $3.00 price target on Plug Power and gave the company an outperform rating in a report on Wednesday, May 10th. ValuEngine lowered shares of Plug Power from a "hold" rating to a "sell" rating in a report on Thursday, May 18th.
Market Vectors Junior Gold Miners ETF
The Average Directional Index or ADX is a technical analysis indicator used to describe if a market is trending or not trending. Aroon Up below 50 warns that the up-trend is weakening while Aroon Down below 50 signals that the down-trend is weakening.
Packers sign LS Brett Goode
Jansen, the team's initial long-snapper who all but had the job locked up, suffered a season-ending injury at the end of August. The veteran long-snapper will be competing against inexperienced Derek Hart for the starting job.
Kandy Test: India 329 for 6 on Day 1
In a recent interview to a website, Rahul said that not converting the starts into big hundreds will make him more hungry. The celebration wasn't the usual: the twirl of moustache and slapping of thigh. "It was a fun thing with the boys".