etvfutures.com
etvfutures.com August 19, 2017


Wall Street tumbles on North Korea worries

13 August 2017, 11:10 | Opal Carroll

S&P, Dow Hit Record Highs as Apple Climbs

Why Did the S&P 500 NASDAQ and Dow Change Direction

USA stocks closed lower for the third day in a row Thursday, led by declines in technology companies and banks, two of the highest-performing sectors over the previous year.

US stocks were lower Wednesday afternoon as investors rushed to safe-haven assets after President Donald Trump's "fire and fury" warning to North Korea escalated tensions with the nuclear-armed nation.

The S&P/TSX composite index fell 143.08 points, or 0.94%, to 15,074.25, with almost all of its sectors moving lower.

The Dow Jones Industrial Average ended down 33.08 points, or 0.15 percent, at 22,085.34, snapping a 9-day streak of closing records.

Global benchmark Brent also fell 0.9 percent to $51.44, after Thursday's 1.5 percent drop. The Russell 2000 index of smaller-company stocks gave up 13 points, or 0.9 percent, to 1,396.

The CBOE Volatility Index, the most widely followed barometer of expected near-term USA stock market volatility, hit its highest mark since November 8, when Trump was elected president.

In Europe, equities dived with London losing 0.6 percent, while Frankfurt shed 1.1 percent and Paris fell 1.4 percent.

Charter Communications rose 2.9 percent on news Altice is exploring a bid for the cable giant.

Tensions with North Korea appear to have finally shaken the confidence of USA investors, after the S&P 500 opened 0.8% lower, threatening to end its 15-day streak with a closing streak of more than 0.3%, a 90-year record.

Brighton boss Hughton positive despite Manchester City defeat
Manchester United to win by two goals or more against West Ham is being priced at 5/2 odds with Irish bookmaker Paddy Power. Kyle Walker (£50m) is the most expensive defender in the world, while Benjamin Mendy (£49.2m) is close behind.


MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower.

Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high.

Among economic data, the U.S. Labor Department is likely to report that initial jobless claims remained unchanged at 240,000 for the week ended August 5. While the French CAC 40 Index fell by 0.6%, the German DAX Index slumped by 1.1% and the UK's FTSE 100 Index plunged by 1.4%. "That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group, New York.

The price of oil was also 0.3% ahead at 52.29 U.S. dollars a barrel, with stockpiles coming under pressure from falling crude oil imports and record processing at American refineries.

The price of gold rose 1% to 1,274.39 USA dollars per ounce, with Fresnillo and Randgold Resources up 72p to 1,544p and 200p to 7,380p respectively.

In other energy futures trading, wholesale gasoline rose 1 cent to $1.61 a gallon, while heating oil was little changed at $1.63 a gallon.

"There is a low probability that we will have a war with North Korea", he said, and a larger pullback in stocks is "a buyable drop". The September copper contract was down two cents to US$2.91 a pound. Brent crude slid 80 cents USA, or 1.5%, to US$51.90.

USA crude oil +0.4% at $49.76/bbl. The euro slid to $1.1742 from $1.1752.



Other News

Trending Now

The Beckhams crash the 'Modern Family' set -- see the wonderful pic
The younger Beckhams - Brooklyn, Romeo, Cruz and Harper - are all smiles as they sit with a friend. Thank you all for coming to visit the Modern Family set today! The ideal photo opp.

Wenger 'relieved' Giroud stayed at Arsenal after victor against Leicester
Only 105 seconds it took the former leader of the Lyon's Alexander Lacazette to score his debut goal in the Premier League . At one stage I opened the door for him to go as I knew I had many strikers, and in the end he made a decision to stay.

Freed hostage abandoned Christianity for Islam
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.

English Premier League Odds: Manchester City Betting Favorite for Title
While City's midfield may be stacked this season, there is always need for bodies when you compete in four separate competitions. Mourinho has won the domestic league title at the end of his second year in each of his five major management jobs.

Gov. McAuliffe Declares State of Emergency in Charlottesville
Local police estimate 6,000 people are attending the rally, and 1,000 law enforcement officers have been deployed to the city. Right-wing blogger Jason Kessler had called for what he termed a "pro-white" rally in Charlottesville.

Bryce Harper injures left knee, leaves game
Rockies sign Howard • The Colorado Rockies agreed to a minor-league contract with first baseman Ryan Howard , a native St. Elsewhere • Dodgers pitcher Clayton Kershaw (lower back soreness) is scheduled to throw a second bullpen session Sunday.

North Korea: Millions Are Signing Up to Fight
North Korea responded by detailing a plan to fire ballistic missiles toward the US territory of Guam, home to USA military bases. The post France's Macron speaks to Trump, warns over N Korea escalation appeared first on Vanguard News .

NGAM Advisors LP Cuts Position in FS Investment Corporation (FSIC)
Finally, Exencial Wealth Advisors LLC boosted its position in FS Investment Corporation by 4.4% in the first quarter. Following the completion of the purchase, the director now owns 34,063 shares in the company, valued at $302,479.44.

Dow winning streak snapped as stocks drift lower
The pan-European FTSEurofirst 300 index lost 0.77 percent and MSCI's gauge of stocks across the globe shed 0.37 percent. Meanwhile, gold stocks are bucking the downtrend, driving the NYSE Arca Gold Bugs Index up by 1.2 percent.

Stocks slide on continued concern over tension between USA and North Korea
The CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the election. A report released by the Labor Department showed a modest uptick in consumer prices in the United States in the month of July.