Wall St set to open flat after inflation data, N.Korea tensions

13 Août, 2017, 19:08 | Author: Marc Bacque
  • US stocks close slightly lower, trimming earlier losses

The S&P 500 dropped 1.4% to 2438.21, while the Dow Jones Industrial Average fell 204.69 points, or 0.9%, to 21,844.01.

The index was showing signs of Greed just two days ago while the Dow was in the midst of a winning streak that included nine straight record highs.

The Standard & Poor's 500 index fell 8 points, or 0.4 percent, to 2,466 as of 2:45 p.m.

By 3.08pm, the FTSE 100 had fallen by 121 points or 1.6% and was on track for its worst day since April, also pressured by losses in the commodity sector and disappointing British export figures.

The Nasdaq composite fell 13.31 points, or 0.2 percent, to 6,370.46.

Trump had told North Korea to not "make any more threats" to the US or the country "will be met with fire and fury like the world has never seen".

ANALYST'S TAKE: "The tensions between North Korea and the U.S.is an excuse for profit-taking", Seo Sang Young, an analyst at Kiwoom Securities. The yield on the 10-year Treasury note fell to 2.22 percent from 2.26 percent late Tuesday.

To that end, gold prices shot up to near $1,300 an ounce - their highest level in several months.

The S&P 500 index had its biggest one-day drop in nearly three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea. Twenty-First Century Fox gave up 46 cents, or 1.6 percent, to $27.57.

Computer hardware, semiconductor, and retail stocks are also seeing considerable weakness, while gold stocks are among the few groups bucking the downtrend.

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SIMMERING TENSIONS: North Korea revealed on Thursday a detailed plan to launch a salvo of ballistic missiles toward the U.S. Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks.


Shares of Walt Disney were down 4.23 per cent, the biggest drag on Dow, as investors doubted whether the company can succeed with its plan to launch its own streaming services rather than rely on Netflix to reach online viewers.

On the currency markets, sterling rose 0.2% to flit around the 1.30 USA dollar mark, with the greenback falling in response to the latest U.S. inflation data.

The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon.

Bond prices were little changed.

Separately, US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, weighed down by declining costs for services and energy products.

Focusing on United Kingdom stocks, Old Mutual was among the biggest fallers after saying it was taking a "cautious" approach to the dividend despite hiking half-year profits. Hong Kong's Hang Seng added 0.6%.

US crude oil futures settled almost 2 per cent lower at $48.59 a barrel, as Russian Federation considered a future output resumption and the Organization of the Petroleum Exporting Countries boosted its July production numbers.

MARKETS ABROAD: In Europe, Germany's DAX rose 0.3%, and France's CAC 40 gained 0.2%. Copper rose 4 cents to $2.94 a pound.

CURRENCIES: The dollar fell to 109.96 yen from 110.48 yen late Tuesday.

Conseillé:

  • Dimensional Fund Advisors Lp Marginally Raises Its Position in Photronics, Inc. (PLAB)

    The business had revenue of $108.30 million during the quarter, compared to analyst estimates of $111.16 million. Cortina Asset Management, LLC grew its holdings by buying 15,727 shares an increase of 2.3% as of 06/30/2017.

    Une révélation sur la décision de Neymar — Mercato / PSG

    Et si le suspense a duré de longs jours, il s'agissait en réalité d'un faux suspense selon le journal Correio de Manha . En effet, l'une des conditions de ce bonus à 26 M€ stipulait que le joueur devait rester jusqu'au 31 juillet.
    Britain says North Korea must fix crisis it started

    Britain says North Korea must fix crisis it started

    German Chancellor Angela Merkel added: 'I don't see a military solution and I don't think it's called for. "No, I don't think so". Johnson added that the North Korean government was responsible for the crisis and "must fix it".
  • Kinsight LLC Has $13.60 Million Stake in Vanguard MSCI EAFE ETF (VEA)

    Wallington Asset Management LLC boosted its position in shares of Vanguard MSCI EAFE ETF by 35.9% in the second quarter. Nicolet Bankshares Inc. boosted its stake in Vanguard FTSE All-World ex-US ETF by 54.7% in the second quarter.
    Yohann Diniz wins men's 50K race walk, becomes oldest gold medalist

    Yohann Diniz wins men's 50K race walk, becomes oldest gold medalist

    Japanese Hirooki Arai, silver with 3:41:17, and Kai Kobayashi, bronze with 3:41:19, completed the podium. The French walker turned the third champion of Europe for this even t that achieves the world crown.
    Chance the Rapper announces free concert on Saturday

    Chance the Rapper announces free concert on Saturday

    The parade brought together the community and political foes alike to celebrate heading back to school. "This is the best thing they have every year", said a parent on the route.
  • PSG. Piqué savait que Neymar allait partir quand il a tweeté

    PSG. Piqué savait que Neymar allait partir quand il a tweeté

    Sans oublier l'immense somme d'argent qui a gonflé le compte en banque, " il est parti en laissant de l'argent dans les caisses ". A entendre le compagnon de Shakira, Neymar est d'ailleurs " unique au monde " et " il n'y a pas de remplaçant sur le marché ".

    Nine-man Chelsea lose 3-2 to Burnley

    With Eden Hazard, Tiemoue Bakayoko and Pedro Rodriguez injured and Victor Moses suspended, Chelsea had a threadbare match-day 18. Two years ago, Chelsea drew with Swansea 2-2 at home in the first match of its league title defense and quickly unraveled.

    Alexis Sanchez to miss start of season for Arsenal

    Sanchez joined the team late this summer, following an extended tour of duty with Chile in the Confederations Cup. Indeed he truly is a significant loss, and right now the Gunners can not afford too many more of those.
  • Arrested female terrorist who stabbed an Israeli Arab in Jerusalem, denies charges

    Arrested female terrorist who stabbed an Israeli Arab in Jerusalem, denies charges

    However, the investigators continue to collect testimonies from witnesses in an attempt to locate the terrorist's first target. Israeli Police subsequently went to the home of the stabber to search the house, confiscating a computer and some documents.
    Mayor Garcetti Comments On Violent Events In Charlottesville

    Mayor Garcetti Comments On Violent Events In Charlottesville

    Former US President Barack Obama has been applauded for his response to a terror attack in Charlottesville, Virginia, on Saturday (local time).

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