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Gold steady near 2-mth highs as N. Korea tensions continue
13 August 2017, 03:23 | Cesar Cruz
Wall Street falls after Trump warning to North Korea
US stocks headed lower in early trading Wednesday, Aug. 9, 2017, as traders weighed the growing tensions between the USA and North Korea.
Earlier in the week, Trump said the USA would unleash "fire and fury" on North Korea if it continued to threaten the U.S.
The CBOE Volatility Index, the most widely followed barometer of expected near-term stock market volatility, was up 1.03 points at 11.98 points, its highest level in a month.
In the latest developments between the two countries' war of words, President Donald Trump issued another set of statements on Thursday, saying that his warning of bringing "fire and fury" to North Korea - if it continues its threats - may not have been "tough enough".
Pyongyang said it was examining plans for attacking Guam, a US territory in the Pacific with a military base.
US government bonds strengthened Friday as soft inflation data led investors to further scale back expectations for interest-rate increases from the Federal Reserve. "Limited news flow is what can be blamed for the narrow trading ranges, but expect this to change as we get closer to Friday's U.S. CPI release".
At 10:57 a.m. ET (1457 GMT), the Dow Jones Industrial Average was up 54.38 points, or 0.25 percent, at 21,898.39, the S&P 500 was up 8.69 points, or 0.35 percent, at 2,446.90. The stock fell another 2 cents, or 0.4%, to 5.12 Friday. Investors welcomed new data showing US inflation at the consumer level inched higher last month, suggesting that the Federal Reserve may be less likely to raise interest rates next month.
The world equity markets have lost 1000 billions of dollars of funding since the beginning of the verbal sparring between the United States and North Korea.
No Easy Military Options in North Korea
Speaking to journalists at his New Jersey golf club, the President said that he didn't think his comments had been "tough enough". He warned that the tragedy of war is well known and a military conflict could be 'catastrophic'.
The Nasdaq Composite was up 34.61 points, or 0.56 percent, at 6,251.48. While the German DAX Index closed just below the unchanged line, the U.K.'s FTSE 100 Index and the French CAC 40 Index both tumbled by 1.1 percent.
An index of 15 gold miners tracked by Bloomberg Intelligence climbed 1.1 percent, led by Toronto-based Yamana Gold Inc.
Commodity-related stocks are among the worst performers against the backdrop of heightened political uncertainty after Trump further ratcheted up the rhetoric.
Burger chain Wendy's was up 4.20 per cent after it reported better-than-expected quarterly profit and sales. The S&P has lost more than 1 percent on only three days this year.
CURRENCIES: The dollar slipped to 108.97 yen from 109.20 while the euro weakened to $1.1758 from $1.1773. The yield on the 10-year Treasury note fell to 2.22 percent from 2.26 percent late Tuesday. ANZ fell 1.9%, Commonwealth shed 0.7% and Westpac declined 1.3% after RBA Governor Philip Lowe said the central bank is prepared to be patient on rates for quite some time.
BONDS: Bond prices rose.
Shares of Snapchat parent Snap Inc.(SNAP) slid 14% a day after the company's earnings missed forecasts (http://www.marketwatch.com/story/snap-ceos-promise-cant-overcome-declining-ad-rates-stock-heads-toward-new-lows-after-earnings-2017-08-10), and the social-messaging company disclosed that average ad prices fell in the second quarter.
Equities fall on rising tension between US & North Korea
Barrick Gold Corp rose 2.3 per cent to C$21.74 as the price of gold, a safe-haven asset, reached its highest levels in two months. Investors instead turned to safe-haven assets such as gold, pushing it to a two-month high, and the Japanese yen JPY= rose.
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The 42-year-old said his captors treated him better after he adopted Islam, giving him clothes, food and medication. He added that his captors thought that US President Donald Trump would draw more Muslims to fight against the West.
Wall Street falls on North Korea concerns
The local currency was trading at 1,145.05 won against the US dollar , down 3.05 won from the previous session's close. Shanghai posted its biggest one-day drop since December while Seoul stocks again ended deep in negative territory.
FTSE 100 takes cover from war of words over South Korea
President Donald Trump said his earlier threat to unleash "fire and fury" on North Korea " maybe wasn't tough enough ". Anglo American (LON:AAL) is now leading other blue-chip miners lower, having shed 4.22 percent to 1,223.50p.