Economy

Futures lower as North Korea tensions linger

Futures lower as North Korea tensions linger

Germany's DAX fell 0.7 percent to 12,068 and the CAC 40 of France lost 0.3 percent to 5,133.

Blue Apron shares hit a record low at $5.03 after the meal-kit delivery service provider reported a bigger-than-expected loss in its first quarterly report as a public company.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

Materials, a sector that includes gold producers and other resource-based companies, was the lone gainer among the index's 10 main sectors, rising 0.7 per cent. The slide deepened after Trump's remarks on North Korea. Pan American Silver Corp, which reported second quarter results, rallied 11.8 percent to C$22.69.

Department store operator J.C. Penney (JCP) is also among the companies due to report their results before the start of trading on Friday.

Apple Inc., whichsank 3.2%, and Goldman Sachs Group Inc.

Samsung to release next wearable hybrid smartwatch named Gear Sport
Samsung's smartwatch interface will also likely be provided with a bit of a makeover to match the tone of the smartwatch . Exactly what Samsung will bring differently to the market in terms of a sports-oriented device is yet to be seen.

"People are concerned that a shouting match could lead to someone pressing a button", said Irwin Michael, portfolio manager at ABC Funds.

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.

In 3.23pm trading in NY, the Dow Jones Industrial Average gave up 0.7 percent, while the Nasdaq Composite Index dropped 1.8 percent. The selling in U.S. markets started on August 8 after President Trump warned North Korea that threats will be "met with fire and fury".

Trump continued to ramp up the rhetoric with a post on Twitter this morning indicating that the U.S.is prepared to take military action against North Korea.

President Donald Trump said on Tuesday that US threats from Pyongyang would be met with "fire and fury", which prompted North Korea to say it was considering plans for a missile strike on the USA pacific territory of Guam.

Korea's Samsung Electronics fell 2.8% Friday.

Prudential Financial, Inc. (NYSE:PRU) Stake Decreased by Clearbridge Investments LLC
Wells Fargo & Company reiterated a "hold" rating on shares of Prudential Financial in a research note on Tuesday, June 6th. The New York-based Millennium Mngmt Ltd Liability Corporation has invested 0.08% in Prudential Financial Inc (NYSE: PRU ).

For the week, the Dow is on track for a decline of 0.9%, its biggest one-week drop since April.

Meanwhile, the Russell 2000 index of small-cap stocks looked poised for a weekly drop of 2.8%, its biggest one-week decline since February 2016. But some investors welcomed the dip in the sector, which has been S&P's leading gainer so far this year. Money has poured into the Yen as investors search for safe-haven assets following the "fire and fury" comments from US President Donald Trump, earlier in the week.

"That may have weighed a little bit" on markets, said Phil Guarco, global investment specialist J.P. Morgan Private Bank. It's also called the "fear index".

Kohl's stock dropped almost six percent despite better than expected earnings.

The S&P hasn't had a move of more than 0.5 percent since July and has fallen more than 1 percent only twice this year.

About 7.5 billion shares changed hands on US exchanges, well above the 6.25 billion average for the last 20 days.

Jurgen Klopp: 'Neymar transfer a warning to Barcelona'
From the point of view of FC Barcelona , the Brazilian national player did not stick to the then-made agreements. But with Neymar gone, they are set to launch a decisive move for the player.


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