Enero 27, 2021

US Stocks May Continue to Regain Ground

15 Agosto 2017, 08:20 | Azura Castelo

US Stocks May Continue to Regain Ground

Tokyo shares fall by break as North Korea worries linger

The CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the US presidential election on Thursday, but was down 1.22 points at 14.82 points on Friday.

The main equity indices of China, Hong Kong, India, Australia and Korea all closed higher, with the Shanghai composite up 0.9% to 3,237.36 and the Hang Seng climbed 1.36% to 27,250.23. U.S. President Donald Trump threatened that military solutions were "locked and loaded" as the "hermit kingdom" said it would fire missiles into the ocean near Guam, a U.S. territory. European stocks were facing the worst week in nine months ( on U.S. In corporate news, shares in Tesla Inc. rose almost 2% higher after Baird analyst Ben Kallo, a longtime Tesla bull, hiked his price target for the electric-car maker's stock to $411 from $368.

The Dow Jones Industrial Average was up 141.68 points, or 0.65 percent, to 22,000, the S&P 500 had gained 24.19 points, or 0.99 percent, to 2,465.51 and the Nasdaq Composite had added 81.36 points, or 1.30 percent, to 6,337.91.

The dollar index, which measures the greenback against a basket of six major currencies, edged up 0.1 percent to 93.168, .DXY , after slipping around 0.3 percent on Friday.

North Korea responded with a statement by its official KCNA news agency claiming Trump is "driving" the Korean peninsula to the "brink of a nuclear war".

Against a basket of major currencies, the USA dollar rose 0.3%.

Traders saw the chance of a rate hike in December falling to 40 percent from 42 percent before Friday's data, according to federal funds futures.

Investors, though, will be keeping an eye on developments in North Korea, which on Tuesday celebrates Liberation Day, when the country marks the end of Japanese rule.

Traders took heart in a measure of US consumer prices that increased only slightly in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year.

Oil prices extended Monday's heavy sell-off, weighed down by a surge in the USA dollar and signs of weaker demand in China, the world's second-largest consumer.

Investors opted for the perceived safety of US Treasuries, which pushed the yield on the 10-year note three basis points lower to 2.21%. Inflation numbers surprised to the downside, leading the dollar to post considerable losses relative to other major currencies within the first minutes of data release.

US crude fell 2.56 per cent to $47.57 per barrel after climbing to $49.16 earlier in the session. Spot gold dropped 0.6 per cent to $1,280.71 an ounce.

The Dow slumped 204.69 points, or 0.9%, to 21,844.01, while the S&P 500 dropped 1.5% to finish at 2,438.21.

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