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Stocks Regain Ground But Still Close Lower For The Week
12 August 2017, 12:23 | Patty Hardy
While the Nasdaq climbed 39.68 points or 0.6% to 6,256.56, the Dow inched up 14.31 points or 0.1% to 21,858.32 and the S&P 500 edged up 3.11 points or 0.1% to 2,441.32. The average for new 52-week lows this year is about 230 per day. The Dow slumped by 1.1%, while the Nasdaq and the S&P 500 tumbled by 1.5% and 1.4%, respectively.
Positive sentiment was also generated by a report from the Labor Department showing just a modest uptick in consumer prices in the month of July.
"Both (PPI measures) were well below consensus and give us no hope that consumer price inflation is going to materially beat expectations", said Chris Weston, chief market strategist at IG Markets.
A Labor Department report showed its producer price index posted a surprise drop in July, down 0.1% for the largest slide in nearly a year.
Analysts said yields, which move inversely to prices, could fall further if the geopolitical tensions continue to rise - even if central bankers in the United States continue to talk of raising interest rates or scaling back stimulus programmes. BNY Mellon FX strategist Neil Mellor told Reuters that in recent years, "the market hasn't really reacted to things on the Korean Peninsula" because in the past "it [has been] largely North Korean sabre-rattling".
The threat followed U.S. President Donald Trump's warning on Tuesday that any threats by Pyongyang would be "met with fire and fury like the world has never seen".
Trump took specific aim at North Korean leader Kim Jong Un on Thursday, saying, he had "disrespected our country greatly", and would not be "getting away with it".
If North Korea launches an attack that threatens the United States then China should stay neutral, but if the United States attacks first and tries to overthrow North Korea's government China will stop them, a Chinese state-run newspaper said on Friday. The stock lost 78 cents to $3.93.
Major indexes in Europe closed mostly lower. Against the yen, the euro last traded at 128.29 yen, down 0.2 percent. Autodesk (ADSK) and Red Hat (RHT) posted notable gains.
Futures markets were also pointing to a lower start for Wall Street, where missile makers have been the only significant gainers in recent days.
In overseas trading, stock markets across the Asia-Pacific region saw continued weakness during trading on Friday.
THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and US indices have retraced from record levels over the last two days". Japan was closed on a public holiday.
The dollar index fell 0.3 percent, with the euro up 0.36 percent to $1.1812.
In the bond market, treasuries extended the upward move seen over the two previous sessions.
Benchmark 10-year notes last rose 5/32 in price to yield 2.194 percent, from 2.211 percent late on Thursday. At the same time, North Korea dismissed threats by President Trump as a lot of "nonsense".
The Federal Reserve is also scheduled to release the minutes of its latest monetary policy meeting, which may shed some light on the outlook for the interest rates.
Stock movers:Nordstrom Inc.(JWN) shares earlier rose after the retailer posted earnings that beat expectations (http://www.marketwatch.com/story/nordstrom-shares-rise-after-retailer-tops-views-sales-rise-2017-08-10) but the stock is trading mostly flat.
Sammy Watkins traded to the Rams
And he'll provide a huge upgrade for Jared Goff , as the 2016 draft's No. 1 overall pick tries to find his footing in the NFL . The company? Evans and Odell Beckham - notably drafted behind Watkins in 2014 - plus Randy Moss, A.J.
Prediction: Brighton vs Manchester City
We always create more than the opponent. "Since I started playing regularly in the Bundesliga it all happened so fast". The decision was made in July, before City had played the majority of their pre-season friendlies.
Trump tells Guam governor: 'We are with you 1000 percent'
Mr Trump agrees, saying "They should have had me in years ago. frankly you could have said that for the last three presidents". He then reassures Mr Calvo, who he describes as a "hell of a guy", telling him the U.S. military is "rock solid".