North Korea tensions continue to weigh on global stocks
North Korea tensions continue to weigh on global stocks
Investors looked for cover after strong words by President Trump causing Japan’s Nikkei to drop Eugene Hoshiko AP
14 August, 2017, 00:59
"European shares are trading once again lower. continuing their slide on the back of ever more increasing tensions between North Korea and the USA", added analyst Markus Huber at City of London Markets.
Traders took heart in a measure of USA consumer prices that increased only slightly in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year. On Thursday, it logged its biggest one-day percentage loss since April 18, when a "snap" United Kingdom general election was called.
"The data confirms the Fed will have a wait-and-see attitude", said King Lip, chief investment officer at Baker Avenue Asset Management in San Francisco.
"What has changed this time is that the scary threats and war of words between the USA and North Korea have intensified to the point that markets can't ignore it", said Shane Oliver, head of investment strategy at AMP Capital in Sydney.
The president continued tweeting on Friday, saying that military solutions to the crisis are "locked and loaded".
At 10:57 a.m. ET (1457 GMT), the Dow Jones Industrial Average .DJI was up 54.38 points, or 0.25 percent, at 21,898.39, the S&P 500 .SPX was up 8.69 points, or 0.35 percent, at 2,446.90.
The Standard & Poor's 500 index fell 24 points, or 0.9 percent, to 2,450.
Spot gold was almost flat at $1,285.76 per ounce at 0447 GMT and was set for a weekly gain of over 2 percent. US stock index futures also fell, with the S&P 500 indicated to open down 0.5 percent ESc1 1YMc1. Hong Kong's Hang Seng Index plunged by 2%, while South Korea's Kospi Index slumped by 1.7%.
Many world stock markets have hit record or multi-year highs in recent weeks, leaving them vulnerable to a sell-off, and the tensions over North Korea have proved the trigger. The VIX rose further on Wednesday, rising as far as 12.11, its highest in nearly a month.
"The typical text book trade is that investors rush for safe havens".
Platinum climbed 0.2 percent to $978.00 per ounce after touching $984.60 during the session, its highest since April 18.
Disappointing US inflation and jobs data have not helped the 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. Yesterday, the TICK opened at around 900-a reading of 1,000 or more means pretty severe selling pressure-and then headed higher throughout the day. The 1.3 percent gain for the market's main other choice for borrowing to fund speculation, the Swiss franc against the euro, is its biggest rise in more than a year. "Whether it is a credit crunch in China, policy error from the Fed, or fear of an over-valued USA stock market, there are many reasons to maintain a balanced multi-asset portfolio that has exposure to defensive asset classes and currencies".
Excluding food and energy prices, core consumer prices still crept up by 0.1% in July, matching the increases seen in the three previous months.
The dollar index, which measures the U.S. currency against a basket of major peers, slipped 0.1 percent.DXY as U.S. Treasury yields fell.
He last played an ODI against New Zealand in October 2016 and has now regained his spot in the national team. Rohit Sharma returns to India's squad as vice-captain and the fit-again KL Rahul is also back in the fray.
The qualified approval by the auditor marks a step forward for Toshiba in maintaining its Tokyo Stock Exchange listing. It was good news for a company confronted with delisting fears and legal battles with Western Digital.
In the shadow of news that Ezekiel Elliott had been suspended, the Buffalo Bills pulled off two stunning trades on Friday. The deals come just a day after the Bills had their first preseason game of the year, a loss to the Vikings.
Zidane also warned the European champions against a Barcelona backlash at the Camp Nou on Sunday (kick off 2000GMT). The staff are doing a great job, we do not fail because of the relationship in the dressing room.
Politico said White House press secretary Sarah Huckabee Sanders didn't immediately return requests for comment. New carpet, curtains and paint are part of the work that is going on in just a part of the White House.
Mckinley Capital Management Inc acquired 16,894 shares as Magellan Midstream Partners Lp ( MMP)'s stock declined 7.68%. As of the end of the quarter Mitsubishi Ufj Trust & Banking Corp had sold 2,616 shares trimming its holdings by 0.7%.
Nicola Fitton, Managing Director at Betsafe, said: "We are delighted to announce our new partnership with Conor McGregor ". McGregor invited Malignaggi to camp to gain experience sparring a high-level boxer ahead of the showdown.
Mr Trump agrees, saying "They should have had me in years ago. frankly you could have said that for the last three presidents". He then reassures Mr Calvo, who he describes as a "hell of a guy", telling him the United States military is "rock solid".
It is unclear whether the meeting will involve all 28 European Union member states, or only affected countries. If consumed in large quantities by humans it can damage the kidneys, liver, and thyroid glands.
Tottenham made a winning start to the 2017-18 Premier League season as 10-man Newcastle endured a hard return to the top flight. Lloris defended Tottenham's lack of summer spending and sees it more as an exercise in maintaining team spirit.
Eric Bellquist , 41, was arrested by London police on August 10 in connection with the ongoing investigation into the May assault. The jogger is described as a white man, aged early to mid 30s, with brown eyes and short brown hair.
The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.13. Snap began floating on the United States stock market in March this year for an initial offer price of $17 a share.
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