Gold steady near 2-mth highs as N. Korea tensions continue

14 August, 2017, 07:21 | Author: Leticia Walters
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US stocks edged higher in early trading Friday, recouping some of the ground they lost after the market's biggest single-day drop in almost three months. Only 3 of the 30 stocks in the Dow finished the day with a gain: IBM, Coca-Cola and McDonald's. Utilities companies were down the most.

"Should the North Korea situation develop it may just prove to be the catalyst to push the institutional world to commit flows back to this asset class on a sustained basis", he said.

The 30-year bond was last up 4/32 in price to yield 2.7871 percent, from 2.794 percent late on Thursday.

By mid-morning in NY investors began to look for stocks to buy rather than offload and the Dow Jones industrial average was 38.65 points higher at 21,882.92 while the S&P 500 was...

The dollar index fell 0.32 percent, with the euro up 0.42 percent to $1.1819.

South Korean stocks opened lower on August 11 as North Korea risks continued to weigh on the main index.

The North's latest threat came as U.S. President Donald Trump warned Tuesday that North Korea will be met with "fire and fury" should it stick to ambitions to hit the U.S. with ballistic missiles.

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed threat.

There were fewer signs of anxiousness in the markets Friday. It's still the highest it's been since May. Both the core and headline rates are expected to have risen by 0.2 percent during July.

Investors bid up technology sector shares. Perrigo rose $2.17, or 2.8%, to $79.01. "The market is interpreting it as lowering the odds of the Fed raising rates in December", said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. TMX Group Ltd was up 3.2 per cent to C$68.02, while Quebecor Inc added 4.3 per cent to C$45.20 and Canadian Tire Corp Ltd climbed 5.7 per cent to C$149.89.

Traders sold off utilities stocks.

Pan American Silver Corp, which reported second-quarter results late Wednesday, rallied 10.7 per cent to C$22.47.

USA gold futures for December delivery was mostly unchanged at $1,290.50 per ounce.

Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman all rose and the Dow Jones U.S. defense index was up 1.6 percent after hitting a record high.

Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen. It was last up 1.1 per cent at 1.1321 per euro.

Major indexes in Europe were mixed. Germany's DAX dipped 0.1 per cent as the CAC 40 fell 1.1 per cent in Paris. Britain's FTSE 100 was down 1%. Chinese blue chips lost 1.6%, while Hong Kong's Hang Seng was 1.9% lower.

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