etvfutures.com
etvfutures.com October 22, 2017


Political tensions continue to weigh on world stocks

13 August 2017, 05:39 | Cesar Cruz

Markets Insider

Markets Insider

The Dow fell more than 200 points, a almost 1% drop, and its biggest dip in three months.

Markets in Italy, France and Germany also saw declines.

"If the US and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so", the editorial's authors said.

Officials in North Korea said they were "carefully examining" a strike on Guam, which is home to around 163,000 people and two US military installations and threatened a further "all-out war wiping out all the strongholds of enemies, including the USA mainland" in a government statement.

North Korea said it was considering a missile strike on the US military base in Guam, as US President Donald Trump threatened Pyongyang with "fire and fury".

Bond and gold prices, traditional havens for nervous investors, were little changed, and the VIX, a measure of how much volatility investors expect in stocks, slid 6.7 percent following a 44.4 percent jump the day before.

The Dow and the S&P clung to tiny gains on Tuesday after scaling new records as support from technology stocks offset weakness in the healthcare and materials sectors.

The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. Macy's was down 4.4 percent after the company said its sales continued to decline in the second quarter. The yield on the 10-year Treasury note slipped to 2.21 percent from 2.25 percent late Wednesday. Only 3 of the 30 stocks in the Dow finished the day with a gain: IBM, Coca-Cola and McDonald's. "You're less than 2 per cent off the high for the S&P heading into a weekend where uncertainty with North Korea still lingers".

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OIL: Benchmark U.S. crude was down 14 cents to $48.47 a barrel on the on the New York Mercantile Exchange.

About 6.48 billion shares changed hands on US exchanges on Wednesday compared with the 6.16 billion average for the last 20 sessions. On the Nasdaq, 1,462 issues rose and 1,227 fell. The euro fell to $1.1797 from $1.1774.

In oil, Brent crude was dragged 0.5% lower at 52.46 United States dollars a barrel despite Opec forecasting increased demand for oil next year.

In the eurozone, the Paris CAC 40 lost 0.3 percent compared with the closing level on Wednesday.

The technology sector (.SPLRCT) was the S&P's biggest drag with a 2.2 percent drop.

The biggest risers on the FTSE 100 Index were Coca-Cola HBC up 219p to 2,592p, WorldPay up 19p to 407.5p, Randgold Resources up 95p to 7,475p, WPP up 19p to 1,581p.

In Asia, markets were mostly lower after disappointing Chinese trade data. Lockheed Martin LMT.N , Raytheon RTN.N , General Dynamics GD.N and Northrop Grumman NOC.N all rose and the Dow Jones U.S. defense index .DJUSDN was up 1.6 percent after hitting a record high. Japan was closed on a public holiday.



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