Economy

Stock Futures Lower Again as North Korea Tensions Intensify

Stock Futures Lower Again as North Korea Tensions Intensify

USA equities steepened their losses late in the session after United States President Donald Trump said his earlier warnings to North Korea may not have been tough enough.

The Dow Jones Industrial Average rose 44.33 points, or 0.2 percent, to 21,888.34, the S&P 500 gained 6.01 points, or 0.25 percent, to 2,444.22 and the Nasdaq Composite added 32.10 points, or 0.52 percent, to 6,248.97.

Selling was broad. Declining issues outnumbered advancing ones on the NYSE 6-to-1; on Nasdaq, a 3.60-to-1 ratio favoured decliners.

Why wasn't the market impacted.

Gold held steady at two-month high with spot gold rising 0.1 percent to $1,287.83 per ounce, putting the precious metal on pace for its biggest weekly gains since April.

North Korea had responded to Trump's previous promise to unleash "fire and fury" with a threat to land a missile near the U.S. Pacific territory of Guam.

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The pan-European FTSEurofirst 300 index lost 1.06 percent and MSCI's gauge of stocks across the globe shed 0.17 percent.

However, Federal Reserve Bank of New York President William Dudley suggested on Thursday that the central bank was on track to raise interest rates once more as he expects sluggish inflation to rise over the next several months.

"The market has been looking for an excuse to sell off, and North Korea and the president gave the market that excuse", said David Schiegoleit, managing director at the U.S. Bank Private Client Wealth Management. Sony Corp. shares in Tokyo dropped 1.6 percent.

But the yen added to an already-strong weekly rally of close to 1.5 percent, hitting its highest in nearly four months versus the dollar at 108.73 yen.

USA government bonds strengthened Friday as soft inflation data led investors to further scale back expectations for interest-rate increases from the Federal Reserve.

There were falls of almost 2% on South Korea's Kospi and Hong Kong's Hang Seng, with markets in mainland China and Australia also down - taking their cues from sharp losses on Wall Street earlier.

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Last month center was told by the supreme court to file a reply to writ petition within three weeks. However, National Conference (NC) leader Ali Muhammad Sagar alleged that " Ms.

The last time the S&P closed down more than 1 per cent was May 17 when it fell 1.8 per cent.

Markets in Italy, France and Germany also saw declines.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.20 percent from 2.25 percent late Wednesday.

Bond prices, which move inversely to yields, closed higher.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in US crude inventories.

The Standard & Poor's 500 index fell 10 points, or 0.4 percent, to 2,463.

Matsuyama tied for PGA C'ship lead after 2 rounds
Canadian Graham DeLaet eagles the par-four 14th and par-five 15th to surge to the edge of contention. Northern Irishman Rory McIlroy's one-over 72 left him 10 shots off the lead on two over.


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