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Today's Brokerage Rating: Cisco Systems, Inc. (CSCO), Micron Technology, Inc. (MU)
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12 August 2017, 11:46 | Jan Cross
Gold, silver shine as geopolitical tension rises
Spot gold had eased 0.1 per cent to $1,276.40 per ounce at 0322 GMT.
In Asia, the Japanese Nikkei 225 index closed down 0.1% on Friday.
Overnight, US hedge fund manager Ray Dalio recommended, in a post on his Linkedin page, to shift assets into gold because "prospective risks are now rising and do not appear appropriately priced in" because of a backward look at risk, high corporate leveraging and because past risks have been low.
"The geopolitical tensions have prompted a risk off trade amid investors", said Naeem Aslam, chief market analyst at Think Markets UK.
The Dow Jones Industrial Average climbed 0.08% on Friday, Aug. 11, the S&P 500 gained 0.13%, and the Nasdaq added 0.64%.
Most recently, Pyongyang called President Trump's "fire and fury" threats a "load of nonsense", and detailed plans on a potential missile strike against Guam - which prompted warnings from South Korea and Japan.
The European Union says it has slapped sanctions on nine North Koreans and four entities including the state-owned Foreign Trade Bank, in addition to those already on its sanctions list. Pyongyang said it was examining plans for attacking Guam, a US territory in the Pacific with a military base.
As Trump Threatens, US Negotiates With North Korea
On one issue there is unanimity of opinion: There are no good military options to take out North Korea's arsenal pre-emptively. On Friday, he tweeted: "Military solutions are now fully in place, locked and loaded , should North Korea act unwisely".
The dollar index, which measures against a basket of currencies, fell 0.05 percent.
WALL STREET: Losses in health care and consumer-focused companies pulled US stocks lower, snapping a 10-day winning streak for the Dow Jones industrial average.
The fall comes against a background of increasing tension between North Korea and the US, with the former making a threat to land a missile just short of the US Pacific territory of Guam. The Shanghai Composite Index lost 0.2 percent to 3,275.57 and Hong Kong's Hang Seng was off 0.3 percent at 27,757.09.
The dollar weakened after news that USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase. They are looking for confirmation that the Fed is sticking with plans for a possible December interest rate hike. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189 percent.
It is "a bullish sign that the equity markets are rebounding somewhat on a Friday, in spite of the fact that investors will need to wait for two days to react to any geopolitical news that comes out over the weekend", said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas. On the Nasdaq, 1 378 issues rose and 892 fell.
Josh Saul, chief executive officer of London-based The Pure Gold Company, which is among the bullion merchants reporting incremental trading, said: "We've seen a 64% increase in people purchasing physical gold for the first time in recent sessions citing the breakdown of worldwide relations".
Guardiola forecasts end to City spending spree
The Manchester City boss has spent close to £200 million on new players this summer - four of which cost more than £40m. Pep Guardiola is keen to make further additions to his Manchester City squad before the end of the transfer window.
Trump praises new United Nations sanctions on North Korea
As a matter of urgency, Ruggiero argued, the US should punish Chinese banks and companies helping North Korea evade sanctions. Ri also said Pyongyang will "under no circumstances" negotiate anything to do with its nuclear or ballistic missile programs.
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But after the bombshell he dropped at One Bills Drive, one would have to believe that no one on the Buffalo roster is untouchable. This helps us to illustrate the difference between a five-yard completion on 3rd and 4 and that same completion on 3rd and 6.
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The Nasdaq finished the day at 6,216.87, a slide of 135.46, while the S&P 500 lost almost 1.5 percent, ending the day at 2,438.21. Benchmark U.S. 10-year notes last rose 6/32 in price to yield 2.1905 percent, from 2.211 percent late on Thursday.
Dota 2-Playing Robot Beats the Pros at The International
OpenAI says its next goal is to build a team made up of five bots that can hold its own against a team of top human players. Then, Brockman said, it was time to put the bot to the test at The International, which is Dota 2's world championship.