etvfutures.com
etvfutures.com December 15, 2017


United States stock futures, dollar slip on rising Korean tensions

13 August 2017, 11:10 | Cesar Cruz

Trump's 'fire and fury' warning hits stocks, lifts Swiss franc and gold

US stocks close lower, snapping Dow's 10-day winning streak

Buying interest is somewhat subdued, however, as the ever-escalating war of words between President Donald Trump and North Korea continues to raise geopolitical concerns.

The three major US stocks indexes were on track to snap a three-day losing streak on Friday, as investors bet that tepid inflation data would stunt USA rate hikes, even as the United States and North Korea stepped up an aggressive war of words.

Trump issued a new warning to Pyongyang on Friday, saying in a tweet: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said. Eastern time. The Dow Jones industrial average slid 52 points, or 0.2 percent, to 22,032. Broadcom gave up $5.72, or 2.3 percent, to $243.45.

In Europe, the Stoxx 600 Index finished the day with a decline of 1 percent from the previous close.

After a dip of as much as 0.52 per cent earlier in the day, Wall Street's three major indexes bounced off intraday lows.

"Pretty remarkable, perhaps even extraordinary, considering", said Tim Ash, strategist at fund manager BlueBay.

The Dow and S&P 500 clinched record closes on Monday, Aug. 7, marking the 35th all-time high for the Dow this year, a streak not seen since the 38 record closes in 2014.

Travel and media companies led US stocks lower in afternoon trading Wednesday as some rare earnings disappointments weighed on the market.

In currencies, the yen strengthened 0.64 per cent versus the greenback at 109.37 per dollar.

Central Intelligence Agency chief: No indication of imminent nuclear war with N. Korea
McMaster said Trump has asked for a report on what could happen next in the country. Several countries have expressed concern with the escalation of the crisis.


Wall Street was expecting more inflation.

On Thursday, New York Federal Reserve President William Dudley said he expects sluggish US inflation to rise over the next several months while the hot labor market gets even hotter.

"Saber-rattling between two of the world's least predictable leaders caused a wave of risk aversion to wash over global markets, fueling demand for traditional safe harbors", said Joe Manimbo, senior market analyst at Western Union Business Solutions.

Valeant Pharmaceuticals International, Inc. lost 1.58 Canadian dollars (1.24 USA dollars), or 9.4 percent, to 17.89 Canadian dollars (14.09 dollars), after the company said its subsidiaries in Australia were the subject of a tax audit.

Asian equity markets extended a global slide on Friday, sending investors fleeing to less risky assets such the yen, the Swiss franc and US Treasuries.

Phipps said investors were reassured after Dallas Fed President Rob Kaplan's said on Friday that the Fed needs more evidence of progress toward its inflation goal before raising rates again.

Benchmark 10-year notes last rose 7/32 in price to yield 2.1888 percent, from 2.211 percent late on Thursday.

The 30-year bond last rose 5/32 in price to yield 2.8107 per cent, from 2.818 per cent late on Wednesday.

Gold hit its highest in nearly two months after Trump added to the geopolitical anxiety by boasting of the strength of the USA nuclear arsenal. USA gold futures gained 0.50 percent to $1,296.60 an ounce.



Other News

Trending Now

Tom Cruise Injured Filming High-Altitude Stunt For 'Mission: Impossible 6'
The cast includes Simon Pegg, Rebecca Ferguson, Ving Rhames, Michelle Monaghan, Henry Cavill, Angela Bassett, and Alec Baldwin. The extent of the star's injuries are unknown, as his representatives could not immediately be reached by the Daily News.

Even former Fox News chief doesn't want Scaramucci's old White House job
George Stephanopoulos asked him if he would have okayed that statement if he was still the White House Communications Director.

Bruno Mars Donates $1 Million To Victims Of Flint Water Crisis
The river water was found to be 19 times more corrosive than water from Detroit causing lead poising in many of Flint's residents. Mars made the announcement to a screaming crowd of fans at his sold out show Saturday night at the Palace of Auburn Hills in MI .

Vietnam wins United States defense pledges as tension with China grows
With the rise of a friendly leader in the Philippines, China has been spared a vocal adversary in the disputed South China Sea. To fend off worldwide criticisms, China became positive about holding talks with ASEAN over relevant issues.

Mattis says U.S. wants diplomatic solution for N. Korea
McMaster spoke on the phone for 40 minutes early on Friday, a spokesman for the presidential Blue House in Seoul said. It called former President Barack Obama a monkey and ex-South Korean President Park Geun-hye a prostitute.

Yuvraj Singh dropped, Manish Pandey back for ODIs, T20I
Axar Patel, Yuzvendra Chahal and Shardul Thakur have also been called upon in the absence of the prime bowlers. Kuldeep Yadav, who was a part of India's team that toured West Indies recently has also been retained.

China Willing to Pay the Price of North Korea Sanctions
Tillerson is offering his most specific outline to date of what preconditions the USA has for talks with Pyongyang. And China has again agreed to play along with what the Trump Administration earlier branded as a failed exercise.

Pentagon Ready to 'Fight Tonight' as Tensions Between US, North Korea Escalate
Tensions between the United States and North Korea have dramatically escalated in recent days. On Thursday, Kim Jong-un threatened to strike waters around the USA base in Guam.

Anthony Scaramucci: Trump Should Have Been 'Much Harsher' On White Supremacists
The president has been criticized for not specifically calling out the white supremacists and neo-Nazi groups at Saturday's rally. George Stephanopoulos asked him if he would have okayed that statement if he was still the White House Communications Director.

Justice Department launches civil rights investigation into Charlottesville violence
On Saturday afternoon, a Virginia State Police helicopter assisting in monitoring the protests crashed in Albermarle County. Police said the helicopter was helping law enforcement officers monitor the white nationalist rally in Charlottesville .