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giftedviz.com October 24, 2017


Wall Street set to open lower on simmering North Korea tensions

13 August 2017, 03:19 | Austin Hogan

A salesman arranges a gold necklace in a display case inside a jewellery showroom in Kolkata

A salesman arranges a gold necklace in a display case inside a jewellery showroom on the occasion of Akshaya Tritiya in Kolkata

Apart from geopolitical worries, some technical analysts like Tom McClellan, editor of the McClellan Market Report, blamed seasonality for this week's retreat given August's record as a weak month for stocks.

US stocks closed slightly lower Wednesday, making up much of the ground they lost earlier following a rare batch of earnings disappointments by Walt Disney and other big companies.

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.

The dollar index .DXY , which measures the USA currency against a basket of other major currencies, fell 0.14 percent.

Barrick Gold Corp rose 2.1 percent to C$21.7, while Goldcorp Inc rose 0.9 percent to C$16.29.

KOREA JITTERS: With President Donald Trump warning North Korea of "fire and fury", investors have become concerned that the war of words between Washington and Pyongyang could escalate.

His comments came in response to North Korea's threat to fire ballistic missiles toward the US territory of Guam, which is home to USA strategic bombers, a naval station and other strategic assets. Australia's S&P/ASX 200 edged down almost 0.1 per cent to 5,760.90, while South Korea's Kospi fell 0.5 per cent to 2,357.84. The dollar notched a two-month trough on the safe-haven Japanese yen and was last down 0.3 percent at 109.99. S&P futures fell 0.2 percent while Dow futures also lost 0.2 percent.

USA stocks tumble on North Korea worries
Stocks were trading lower on Thursday, Aug. 10, as the threat of conflict with North Korea continued to percolate. Priceline Group dropped 8 percent after issuing a profit forecast that was weaker than analysts were expecting.


Death toll in Nepal landslides, floods rises to 49
In the eastern city of Biratnagar, the airport was closed after the runway was submerged in half a metre of water. Monsoon rains from June to September are important for farm-dependent Nepal, but they also cause havoc each year.


Trump on North Korea; Google scandal; Trouble at Snap
The Labor Department said its consumer price index inched up by 0.1 percent in July after coming in unchanged in June. The data comes amid tepid inflation that has remained below the Fed's 2 percent target, despite low unemployment.


In an apparent response to Trump's tweet, a statement issued by North Korea's official KCNA news agency claimed the president is "driving the situation on the Korean peninsula to the brink of a nuclear war".

Safe havens benefited from the move away from stocks - gold rising again to around $1,290 an ounce after surging 1.3 percent Wednesday - but other risky assets such as oil and copper held their price. Shanghai Composite Index tumbled 1.6 percent to 3,208.54.

Commodity-related stocks are among the worst performers against the backdrop of heightened political uncertainty after Trump further ratcheted up the rhetoric.

The Labor Department said its consumer price index inched up by 0.1% in July after coming in unchanged in June.

J.C. Penney Co. (JCP) slumped 17% after it reported a wider-than-expected second-quarter loss (http://www.marketwatch.com/story/jc-penney-shares-sink-after-losses-exceed-expectations-2017-08-11). Chinese blue chips closed flat but Hong Kong's Hang Seng Index fell 0.4%. The yield on the 10-year Treasury note fell to 2.22 percent from 2.26 percent late Tuesday. The euro rose to $1.1812 from $1.1774.

Retailers Wal-Mart (WMT), Home Depot (HD), Target (TGT), Staples (SPLS), and Gap (GPS) are also among the companies due to report their quarterly results next week. Japan was closed on a public holiday.

Crude oil prices extended their slide as exports from key OPEC producers rose, despite news of lower crude shipments from Saudi Arabia. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index fell around 1.2% each to finish at 5,693.10 and 5,743.50, respectively.



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