emfizz.com
emfizz.com October 21, 2017


Stock markets lower, gold price continues to rise amid political tensions

13 August 2017, 10:44 | Jan Cross

Stocks slide on continued concern over tension between US and North Korea

US stocks close slightly lower, trimming earlier losses

"The escalation of the geopolitical situation between the US and North Korea is beginning to rattle investors' nerves as was witnessed in the VIX index yesterday", said Peter Cardillo, chief market economist at First Standard Financial. Only utilities sector stocks eked out a gain on a day of mostly listless trading as investors kept an eye on the latest company earnings and geopolitical news.

At 9:34 a.m. ET (1334 GMT), the Dow Jones Industrial Average was up 54.06 points, or 0.25 percent, at 21,898.07, the S&P 500 was up 5.23 points, or 0.21 percent, at 2,443.44.

U.S. President Donald Trump told reporters at his golf club in Bedminster, New Jersey, on Thursday that he will respond forcefully to any North Korean attack on the U.S. or its allies.

The latest sell-off was the most severe yet, amounting to the biggest single-day drop for the stock market in almost three months. 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%.

On the currency markets, sterling rose 0.2% to flit around the 1.30 United States dollar mark, with the greenback falling in response to the latest USA inflation data.

However, bank stocks, including Goldman Sachs (GS.N), Bank of America (BAC.N) and Morgan Stanley (MS.N), were down about 1 percent on the dimming prospects of another rate hike this year.

The indicated USA market moves reflect a selloff across global stock markets Friday. The index has fallen to its lowest intraday level in nearly a month. On the Nasdaq, 1,462 issues rose and 1,227 fell.

"I think the market was looking for a reason to come off here", said Irwin Michael, portfolio manager at ABC Funds. Chinese mainland shares were also down 1.8 percent.

3 militants, 2 soldiers killed in Shopian encounter
Five soldiers were injured in the gunfight yesterday and had to be evacuated to 92 Base Hospital of the Army for treatment. Internet services have been blocked in Badgam district following the identification of Itoo among the slain militants.


Helicopter crash near Charlottesville white nationalist rally kills two cops
Virginia state police also said one of their agency's helicopters crashed Saturday outside Charlottesville , killing two troopers. Trump added that "it has been going on for a long time in our country - not Donald Trump , not Barack Obama ".


Keith Ellison Claims North Korean Leader Is 'More Responsible' Than Trump
Writing in the Sunday Mirror , Mr Corbyn said there can be "no question of blind loyalty to the erratic and belligerent Trump administration" over the crisis.


To that end, gold prices shot up to near $1,300 an ounce - their highest level in several months. Japan's Nikkei 225 Index edged down by 0.1 percent, while Hong Kong's Hang Seng Index tumbled by 1.1 percent.

Retailers were also falling Thursday.

The Standard & Poor's 500 index fell 10 points, or 0.4 percent, to 2,463. The stock lost $2.97 to $8.87. The Russell 2000 index gave up 1.7 per cent to 1,372.54.

Elsewhere in commodities, the September crude contract was up 39 cents to US$49.56 per barrel, September natural gas advanced six cents at US$2.88 per mmBTU and the September copper contract declined two cents at US$2.93 a pound.

Nevsun Resources Ltd offset some of the material group's gains, plunging 16.4 per cent to C$2.75 after the company reported disappointing quarterly results.

CURRENCIES: The dollar fell to 109.96 yen from 110.48 yen late Tuesday.

Across Europe, the Cac 40 in France slid 1.1% while Germany's Dax was flat.



Other News

Trending Now

Tropical Storm Gert expected to form
It is located about 260 miles east of the southeastern Bahamas and is expected to become a Tropical Storm by this afternoon. With its current forecast track, the only impact to the United States will be some increased surf along the coast.

Hackers leak email indicating HBO has agreed to negotiate and pay $250000
The network said: "In the spirit of professional cooperation, we are asking you to extend your deadline for one week". Now a leaked email suggests that HBO offered the perpetrators a sum of $250,000 to delay the leaks.

Nine-man Chelsea lose 3-2 to Burnley
NAN also reports that Wayne Rooney scored the winning goal on his top-flight return to Everton after 13 years. Burnley's Stephen Ward celebrates scoring their second goal.

Trump tells China: Probe into trade practices coming
Pyongyang this week threatened to fire missiles near the US territory of Guam during an exchange of bellicose rhetoric with Trump. It wasn't immediately clear how China would react to the move. "If China helps us, I feel a lot different towards trade".

Tom Cruise Injured While Filming Stunt on 'Mission: Impossible 6' Set
The video appears to show Cruise hitting the building hard, and then limping away tenderly after getting back on his feet. The actor is now in London shooting the highly-anticipated action flick.

North: Media to Partly Blame for Escalating US-N. Korea Tension
His visit came the day after President Trump said North Korea would be met with "fire and fury" in the event of a nuclear attack. Tensions have escalated rapidly in recent weeks after North Korea tested two intercontinental ballistic missiles in July.

Cowboys vs. Rams 2017 live stream
Harvey said an example was proof that photographs were taken by Thompson the same day she alleged that she was injured by Elliott. Elliott and his team of representatives are extremely disappointed with the NFL's decision", Elliott's lawyers said.

Japan Voices Concern over Militarization of South China Sea (News)
"In reality it was only one or two country's foreign ministers who expressed concerns of this kind", Wang told reporters. The Office of Website Management, Bureau of Public Affairs, manages this site as a portal for information from the U.S.

Amazon is issuing refunds to customers who purchased suspect solar eclipse glasses
This certification is used to indicate they are safe for viewing the sun. The full list can be found at eclipse.aas.org/resources/solar-filters .

Usher was in hotel on night woman said he had sex
In a report from TMZ , a supposed employee at the hotel says that Usher did indeed make his way to the hotel to meet Sharpton. Last week, TMZ reported that Usher told his inner circle that he didn't have sex with Quantasia because she's not his type.