World Media

US stocks slip amid heightened US-North Korea tensions

US stocks slip amid heightened US-North Korea tensions

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

With the tense mood pushing European shares down for a third day and Wall Street set to fall again, global stocks were on course for their worst week since Donald Trump won November's USA presidential election.

And in bond markets, 10-year U.S. Treasuries and Germany's ultra-safe government bonds, known as Bunds, were trading at their highest prices since June. TMX Group Ltd was up 3.5 percent to C$68.23, while Quebecor Inc added 2.9 percent to C$44.60.

The focus on North Korea has largely overshadowed a Labor Department report showing an unexpected drop in USA producer prices in the month of July.

"It's incredible when you consider the headlines just how calm the equity markets are, how they've taken things in their stride", said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. The Nasdaq composite lost 39 points, or 0.6 percent, to 6,331.

A statement from the North Korean military called President Donald Trump's warning that the communist nation would face "fire and fury" if it continued its provocations a "load of nonsense".

Liberty Property Trust (NYSE:LPT) Sees Significantly Lower Trading Volume
BTIG Research lowered Essex Property Trust from a "buy" rating to a "neutral" rating in a research report on Friday, June 30th. BidaskClub upgraded STARWOOD PROPERTY TRUST, INC. from a "hold" rating to a "buy" rating in a report on Thursday, June 22nd.

Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high. While the French CAC 40 Index fell by 0.6%, the German DAX Index slumped by 1.1% and the UK's FTSE 100 Index plunged by 1.4%.

Trump's threats have escalated since reports broke at the beginning of the week that North Korea had successfully produced a nuclear warhead that could fit inside its missiles.

After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.

The 30-year bond last /32 in price to yield 2.7933 percent, from 2.794 percent late on Thursday.

At the moment stock falls have not been too dramatic - the bluechip index is at a higher level than it was a week ago.

South Korea's KOSPI fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent.

EPL : Powered by record sprees, Premier League ready for landmark season
Chelsea have struggled more than many of their rivals to navigate what Conte this week described as a "crazy transfer market". Manchester United need to make two signings with real pace to help Romelu Lukaku and Marcus Rashford, Kevin Kilbane says.

Mounting tensions lifted USA defense stocks.

The Labor Department said its producer price index for final demand edged down by 0.1 percent in July after inching up by 0.1 percent in June. The tension increased the selling pressure in the market.

Revenues in the first six months of the year rose 5.6% to 3.21bn euros (£2.9bn), helped by June's hot weather, and operating profits jumped almost 21% to 266.4m euros.

US crude oil +0.4% at $49.76/bbl.

The price of gold also surged for the second day in a row as the December bullion contract advanced US$10.80 to US$1,290.10 an ounce.

Team Liquid Wins $24 Million International Dota 2 Tournament
This secured Newbee a guaranteed top two finish for TI7, and their almost $4 million prize. They will face the victor of Lower Bracket Finals; the victor of LFY vs Liquid.


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