Julio 20, 2018

Gold Rallies On Geopolitical Tensions, NK Threatens Guam

11 Agosto 2017, 11:17 | Azura Castelo

Gold Rallies On Geopolitical Tensions, NK Threatens Guam

Gold Rallies On Geopolitical Tensions, NK Threatens Guam

The ARF, held in the Philippine capital of Manila on Monday, is a rare regional security gathering to which North Korea sends its foreign minister annually.

Losses in health care and consumer-focused companies pulled USA stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

Chinese blue-chips lost 0.9 per cent, while Hong Kong's Hang Seng was 1.6 per cent lower.

"The dollar-yen's downside is expected above 108 yen for now".

Most large-cap stocks were mixed across the board.

The rise in geopolitical tensions this week, which heightened after U.S. President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States, has drawn investor attention away from second-quarter corporate earnings season, which is winding down. The S&P 500 index dropped 35.81 points to 2,438.21, while the Nasdaq composite index slid 135.46 points to 6,216.87.

JJ Kinahan, chief strategist at TD Ameritrade, said geopolitics had "splashed cold water on the markets". The move added to escalating U.S.

Tensions between North Korea and the US have intensified in recent days after Trump warned of severe retribution should the authoritarian state proceed with any more missile tests or threats.

This was the first mission for the crews recently deployed from Ellsworth Air Force Base northeast of Rapid City in support of U.S. Pacific Command's Continuous Bomber Presence missions. The S&P 500 fell 1% Thursday but is still up around 9% so far this year.

The Nasdaq Composite, meanwhile, was facing its worst week since the one ended December 2, which logged a loss of just over 2%. The euro edged down to $1.1726 from $1.1751. Core PPI was also down 0.1%, missing the 0.2% estimate.

"U.S. tech is a case in point. A lot of it (the rally) is due to the risk premium", said Gan. Reflecting a drop in prices for services, the Labor Department released a report on Thursday showing an unexpected decrease in U.S. producer prices in the month of July. Eastern Time, alongside core CPI. Look no further than the TICK index, a measure of the number of New York Stock Exchange issues trading on an uptick versus a downtick at any given moment. Against that backdrop, Dudley might provide an upbeat outlook and confirm the Fed is on track for a rate hike, said Innes.

Such an outcome would normally boost the USA dollar, Spivak said in a note.

Against the dollar the euro was 0.16 per cent lower.

If there's ultimately no impact on the global economy and corporate profits, it shouldn't disrupt the stock market either.

In China, financials dragged stock markets lower amid concerns that regulators will continue to clamp down on debt risks, but strong gains in consumer staples left major indexes only slightly lower on the day.

Nvidia Corp.(NVDA) shares fell 6.6%, even after the chip maker posted upbeat earnings late Thursday.

Stocks have been coasting to new highs day after day. It earlier hit $1,291.86, its highest level since June 7.

The sell off in stocks and flight to safety gathered pace in early European trade as the already cool relationship between the United States and North Korea turned icy following hard-nosed rhetoric from both nations.

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