Wall Street falls on North Korea concerns

Postado Agosto 13, 2017

It measures the daily stock price movements of 30 large, publicly-owned US companies.

Consumer-focused stocks, media companies and banks accounted for much of the market decline.

BIG GAINERS: Health care stocks were among the big gainers.

The company's market cap is just under $100bn and growth has been phenomenal.

USA stock indexes opened higher for the first time in four days on Friday after tepid data pointed to benign inflation that could make the Federal Reserve cautious about raising rates again this year, even as concerns lingered over rising tensions between the United States and North Korea. But by the end of the day, traders appeared to take the geopolitical drama in stride.

The Wells Fargo Investment Institute describes the market response, so far, as "tepid".

The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,445 as of 10:19 a.m. The S&P 500 is up 9 percent, while the Dow is up 10.6 percent. Earlier, the average had been down more than 88 points. The won weakened 0.4 percent against the dollar, set the worst weekly decline since March.

The Nasdaq Composite Index climbed 39.68 points, or 0.6%, to close at 6,256.56. In Asia, several indexes closed lower overnight.

In his latest warning to North Korea, US President Donald Trump said on Friday military solutions were "fully in place" and referred to American weapons as being "locked and loaded" should the nuclear-armed nation act "unwisely".

South Koreans watch a television displaying news broadcasts reporting on North Korea at a station in Seoul today. But the moves were modest. Australia's S&P/ASX 200 dropped 1.2 percent.

While the tough talk about the potential for war is scary, investors have heard it many times before.

"The tension between the United States and North Korea is still dominating the news and it is looming over the financial markets", said David Madden, market analyst at CMC Markets UK.

Wall Street regains momentum after Thursday's sharp sell off but simmering North Korea tension remain a backdrop to Friday's trading session and safe havens such as gold and government bonds make gains.

This was Snap's second earnings report since its IPO launch and it failed to ignite investors.

Priceline Group slid 6.9 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting. The stock lost 78 cents to $3.93.

The CBOE Volatility Index, the most widely followed barometer of expected near-term stock market volatility, rose to a near three-month high of 15.36. The stock lost $4.15 to $102.83.

According to the final results, the index featured Dow Jones has advanced to 21 858,32 points and the Nasdaq, to the strong staining technology, 6256,56 points. "You're less than 2 percent off the high for the S&P heading into a weekend where uncertainty with North Korea still lingers". Brighthouse Financial shed $1.05, or 1.8 percent, to $57.45.

Fossil tumbled 25.1 percent after the watch maker said sales continued to weaken, falling short of analysts' estimates.

Health care stocks, which have been in a slump, posted gains. Germany's DAX was up 0.1 percent, while France's CAC 40 fell 1.1 percent.

Sterling was last trading at $1.3009, up 0.27 percent on the day.

The pan-European FTSEurofirst 300 index lost 1.01 percent and MSCI's gauge of stocks across the globe shed 0.26 percent for a weekly loss of 1.6 percent, the largest since the week to November 4. Hong Kong's Hang Seng was off 0.3 percent.

OIL: Benchmark U.S. crude rose 23 cents to settle at $48.82 a barrel on the on the New York Mercantile Exchange. KLA-Tencor gained $2.62, or 3 percent, to $90.17. Copper fell 2 cents to $2.93 a pound.

The dollar slipped to 109.04 yen from 109.26 late Thursday. The euro held steady at $1.1752.