Economy

US Stocks Slip as North Korea Tensions Persist

US Stocks Slip as North Korea Tensions Persist

Analysts say some investors have also been looking for an occasion to sell stock due to high valuations.

On Thursday, the three major USA indexes logged their worst performances since mid-May (http://www.marketwatch.com/story/us-stocks-set-up-for-another-day-of-losses-as-north-korean-tensions-simmer-2017-08-10) in a session dogged by geopolitical concerns.

In New York, the Dow Jones industrial average plunged 204.69 points to 21,844.01.

Nasdaq 100 e-minis were down 17 points, or 0.29 percent, on volume of 36,232 contracts. An in-line print may not be enough to meaningfully rattle the Treasury market, however, which saw 10-year yields crack 2.20 percent on Thursday for the first time since June as part of a flight to safety. The S&P 500 lost 10.71 points, or 0.43 percent, to 2,463.31.

TSX falls as North Korea tensions spur flight to safety
Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent. Trump's comments followed reports the North has mastered a technology needed to strike the United States with a nuclear missile.

The issues between North Korea and the United States have soared to an unprecedented level after President Donald Trump issued a new round of comments against North Korea, while warning it not to strike Guam or any USA ally.

Second-quarter earnings have been stronger than expected with analysts now expecting S&P 500 earnings to have expanded 11.8 percent, compared with 8 percent at the start of July, according to Thomson Reuters I/B/E/S.

And on Tuesday, shares of Michael Kors jumped 20.31 percent after the retailer raised its full-year revenue forecast, while Ralph Lauren RL.N was up 9.79 percent following revenue and profit beat. The Nasdaq Composite took an even bigger hit, closing down 2.1% at 6,216.87. Netflix was down 1.8 percent. It has been the leading S&P gainer so far this year, making it particularly vulnerable to a decline.

Stock movers: Shares of Snapchat parent Snap Inc.(SNAP) slid 14% in premarket trading.

National Football League could still investigate Ezekiel Elliott bar incident
Owner and general manager Jerry Jones is not expected to meet with the media after Saturday's game against the Los Angeles Rams. Elliott and his team of representatives are extremely disappointed with the NFL's decision", Elliott's lawyers said.

Data showed US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week. Brent crude, the global standard, lost 23 cents to $52.14 a barrel in London.

CURRENCIES: The euro slipped 0.1 percent to $1.1176 while the dollar was steady at 109.20 yen. With one session left to go, the S&P 500 was headed for a weekly drop of around 1.6%, which would be its biggest since a fall of 1.9% for the week ended November 4, 2016.

The pound was down 0.09% against the euro at 1.1049 and down nearly 0.2% on the dollar at 1.2978.

Tech names led stocks lower Wednesday's open, with Walt Disney (DIS) dragging on the Dow and several China-based leaders mixed in early trade. "In this type of environment, bad news tends to send the market lower". Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent. Economists had expected another 0.1 percent uptick.

Video captures officer jumping off freeway to avoid driver
I couldn't feel my arms. "Carter broke his back in numerous places, severely damaged his spine, and injured his left foot". Instead, Carter and fellow officer Carlos Herrera were forced to jump off the freeway to avoid being hit again.

Hong Kong's Hang Seng Index was off 0.09%.


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