FTSE sell-off gathers strength on North Korea fears
14 August, 2017, 02:30 | Author: Leticia Walters
The S&P has lost more than 1 percent on only three days this year. USA gold futures for December delivery was mostly unchanged at $1,290.50 per ounce.
The U.S. blue chip index is down 1.1% this week and the S&P 500 is 1.6% lower. Broadcom gave up $5.72, or 2.3 percent, to $243.45.
"I think the market was looking for a reason to come off here", said Irwin Michael, portfolio manager at ABC Funds.
US stock futures pointed south on Friday as geopolitical tensions continued to ramp up between North Korea and the United States, sending investors into less risky assets.
Against the pound, the euro managed to gain margially, rising 0.06% to 0.9047.
Spot gold prices were little changed at $1,286.05/oz, after touching a two-month high earlier. AES Corp. shed 26 cents, or 2.3%, to $11.12.
"The slight bias to the upside (in stocks) is a result of the CPI number". The stock lost $4.15 to $102.83.
"Add it all up and stocks are vulnerable to a pullback or correction", Bittles said.
Speaking live on state television at a forum for Russian students, Lavrov encouraged Pyongyang and Washington to sign up to a joint Russian-Chinese plan, under which North Korea would freeze its missile tests and the United States and South Korea would impose a moratorium on large-scale military exercises.
"Of course, it's all come at a time when share markets are due for a correction so North Korea has provided a flawless trigger".
Instead, he said his statement "maybe wasn't tough enough".
However, the S&P was still not far off record levels.
The CBOE Volatility index, the most widely followed barometer of expected near-term USA stock market volatility, rose the most in about 12 weeks. The index - which last week hit 22,000 for the first time - closed at 21,844.
Elliott made his comments as a series of threatening remarks between US President Donald Trump and North Korean leader Kim Jong-un sent the price of gold soaring to its highest weekly closing price last Friday, of US$1284.40 an ounce, since last November, before Donald Trump was elected. Only 3 of the 30 stocks in the Dow finished the day with a gain: IBM, Coca-Cola and McDonald's.
"Since these are the stocks that have been in the spotlight the most, they tend to have the most volatility upwards and downwards", said Chris Bertelsen, chief investment officer of Aviance Capital Management in Sarasota, Florida.
The sabre rattling sent tremors throughout stock markets globally as investors responded to rising geopolitical tensions by selling off stocks and moving to traditional safe havens such as gold and U.S. government bonds.
MARKETS OVERSEAS: Major indexes in Europe were headed lower.
Macy's M.N shares closed down 10.2 per cent and Kohl's KSS.N fell nearly 6 per cent as the companies continued to report a drop in quarterly same-store sales, stoking concerns that their turnarounds may still be a long way off.
Advancing issues outnumbered decliners on the NYSE by 1,432 to 1,310. Oil also regained momentum as data pointed to declining US inventories.
The blonde bombshell joined forces with her director boyfriend Darren Aronofsky , 48, for nail-biting thriller Mother! . 'Having your privacy violated constantly isn't a problem if you're flawless , but if you're human, it's terrifying'.
Shares of Snap were off 12.48 percent following a miss on revenue and daily active users, leading to a slew of price target cuts. Market bellwether Samsung Electronics Co. backtracked 3.49 percent, and No. 2 chipmaker SK hynix Inc. was down 4.04 percent.
The Rams chose the prolific Eastern Washington product in the third round, hoping to add playmakers to the NFL's worst offense. Or maybe they were in shock from the Ezekiel Elliott suspension that was handed down on Friday.
In occupied Kashmir, a 26-year-old youth who was injured by the firing of Indian troops at Shopian succumbed at Srinagar hospital. Police also said that the Itoo and two others were involved in a number of anti-national and militancy-related activities.
The exercises are expected to run from August 21-31 and involve tens of thousands of troops on the ground and in the sea and air. Despite the tough rhetoric, Trump insisted that "nobody loves a peaceful solution better than President Trump".
That counts Saturday night's series opener that was delayed 3 hours and started at 7:05 p.m. on the West Coast. The San Francisco Giants and the Washington Nationals take the field in DC in a Sunday MLB match up.
The official said 16 of 28 samples tested positive for swine flu on Sunday, as the number of affected persons increased to 103. He advised people to avoid self-medication and to wash hands at regular intervals since the disease was contagious.
Said Forte: "They kept us in the call room for an extremely long time in our running kits and it's not the warmest over here". He ran his last individual race, the 100m, last Saturday, managing only a bronze; no fairytale finish for him.
South Korea's KOSPI fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent. The euro, which hit its highest since the start of 2015 on August 2, dipped 0.1 percent to $1.1761 in morning trade in Europe.
Back in London , and back fit and firing, Pearson flew out of the blocks and held off Dawn Harper-Nelson to take the title. After injury denied Pearson of the opportunity to defend her Olympic crown past year in Rio, she chose to coach herself.
Man accused of beating mother, sister, friend to death
Vanderhall was arraigned on Sunday, and is charged with three counts of second degree murder and one count of attempted murder. According to police, Vanderhall was found sleeping in a auto within two miles of the crime scene and was arrested, police say.
China president wants closeness with ASEAN nations
McCain traveled close to Mischief Reef in the Spratly Islands, among a string of islets, reefs and shoals. Further complicating matters is the fact that ASEAN remains divided on the South China Sea issue.