Economy

Wall Street lower as investors weigh rising North Korea tensions

Wall Street lower as investors weigh rising North Korea tensions

Meanwhile, the Russell 2000 index of small-cap stocks looked poised for a weekly drop of almost 3%, its biggest one-week decline since February 2016.

The broad-based S&P 500 was hit even harder, dropping 1.5 percent to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2 percent 6,216.87. On the week, the Dow Jones lost 0.9 %; the S&P 500 has dropped 1.4 per cent, its biggest weekly decline in more than four months. Earlier, the average had been down more than 88 points.

The Labor Department said its consumer price index inched up by 0.1 percent in July after coming in unchanged in June. Gold rose as much as 1.2 per cent to a near two-month high, while the Swiss franc was on track to post its biggest single day rise in about two-and-a-half years. Money also flowed into consumer discretionary stocks. They outweighed gains in health care stocks and elsewhere.

US stocks headed lower in early trading Wednesday, Aug. 9, 2017, as traders weighed the growing tensions between the USA and North Korea.

"Right now the market is viewing it as a lot of saber-rattling and a lot of smoke, but not much fire", said Darrell Cronk, president of Wells Fargo Investment Institute.

Facts About North Korean Dictator Kim Jong Un
The regime's recent military tests reveal that the entire continental USA with the exception of Florida may be in range of North Korean missiles.

Stocks are under pressure on Wednesday at the mid-session as the tension between the United States and North Korea continues to heat up.

US President Donald Trump said that North Korea would face "fire and fury" if it continued to threaten the States, however North Korea has dismissed these warnings by the USA incumbent as a "load of nonsense". Trump's comments followed reports that the North has mastered a technology needed to strike the United States with a nuclear missile.

Gold, meanwhile, a traditional safe haven for investors, gained $26.50 since Monday, closing Thursday at $1291.20 per ounce. Economists had expected prices to rise by 0.2 percent.

While the tough talk about the potential for war is scary, investors have heard it many times before.

Beyond geopolitical concerns, investors continued to size up company earnings reports.

Drama At The Emirates As Arsenal Beat Leicester In Seven-Goal Thriller
Arsene Wenger raised eyebrows last week when he said it was an "ideal situation" having players in their final year at the club. Neville said on Sky Sports . "We kept the faith and kept believing in our game to push hard".

Priceline Group slid 6.9 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting.

Biotechnology, tobacco, and transportation stocks also saw considerable strength, while steel stocks extended a recent move to the downside.

The Dow closed down 205 points Thursday, in its biggest decline since May 17, after a string of retailers reported weak earnings and President Donald Trump rejected criticism that his threats to release "fire and fury" had been too inflammatory. The stock fell $4.15 to $102.83. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33.

Benchmark U.S. crude rose 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange.

The bond market was without direction: the yield of u.s. Treasury bills to 10 years, which evolves to the inverse of the bond price, appears to 2,190 %, compared to 2,198 % Thursday evening, and that bills to 30 years at 2,786 %, compared to 2,773 %.

Valve announces Dota 2 'The Dueling Fates' update, two new heroes incoming
Artifact will feature similarities as other digital card games in terms of cards representing creatures and spells. It's still too early to predict how the game will perform in the already saturated digital card game genre.


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