Economy

North Korea talk drags stocks lower; gold, yen rise

North Korea talk drags stocks lower; gold, yen rise

The company also said sales at its established stores declined for the fourth straight quarter.

"The war of words between the leaders of the USA and North Korea continues to dominate investor sentiment", said Forex.com technical analyst Fawad Razaqzada.

Ahead of the opening bell, futures for the Dow Jones Industrials slid 53 points, or 0.2%, to 21,965.

Sydney was a rare bright spot in Asia-Pacific with stocks closing 0.4 percent up as Australia's biggest bank posted record annual profits.

The Toronto Stock Exchange's S&P/TSX composite index was down 39.02 points to 15,217.33 in a broad-based decline that saw many sectors finish in the red while bullion stocks surged almost 1.9 per cent.

Rising geopolitical tensions were heightened further when U.S. President Donald Trump warned Pyongyang it should be "very, very nervous" if it even thinks about attacking the United States or its allies, after Pyongyang said it was making plans to fire missiles over Japan to land near the U.S. Pacific territory of Guam.

Is US gearing up for military action or is Trump bluffing?
In national media interviews , Senator Dan Sullivan said Congress holds final authority when it comes to preemptive war strikes. While I have great confidence in our military's capabilities in the Pacific...

Japan said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programs as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.

"It's been a bit of a roller coaster this week, with all the rhetoric between the U.S. and North Korea", said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 1.1 percent, while France's CAC 40 slid 1.4 percent. Travel-review website operator TripAdvisor was down 2.7 percent.

FINANCIALS FALLING: Several financial sector companies also helped pull down the market. Regions Financial shed 23 cents, or 1.6 percent, to $14.07.

Disappointing company earnings and outlooks put traders in a selling mood.

J.C. Penney sank 16.6 percent after the struggling department store chain reported quarterly results that fell short of Wall Street's expectations. The stock fell $1.01 to $22.02. Its shares tumbled $11.35 to $61.99.

Conte regrets Matic sale to Manchester United
The midfielder rejoined Jose Mourinho for £40million, opting to leave last season's Premier League champions for Old Trafford. "Matic knows very well what I think about him", Conte told Sky Sports News during the Premier League launch.

USA crude rose 0.69 per cent to US$49.51 per barrel and Brent was last at US$52.66, up 1 per cent on the day.

Bond prices were little changed.

US Treasury yields fell on Wednesday, with yields on the benchmark 10-year note hitting a six-week low, as investors reached for safe-haven assets such as government debt. It added 39 cents to $49.56 a barrel on Wednesday. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

The Japanese yen strengthened 0.35 per cent versus the greenback at 109.94 per dollar.

The market's backstop safety asset, gold, edged up to its latest two-month high of $1,288 an ounce. Britain's FTSE 100 was down 1.1 percent. It is poised to end the week down 1.9 percent.

South Korea's Kospi fell 1.1 per cent as the won, ...

Game of Thrones DoP says next episode better than dragon battle
For those wanting to watch this week's episode on the HBO GO app, it can be seen at the same time as it will air on TV. Watching Jaime from afar, Tyrian mutters under his breath, "Flee you idiot" when he sees Jaime charging at Daenerys .

Hong Kong and Shanghai followed Tokyo into the red, as sentiment was also dented after China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world´s second-largest economy.


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