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Wall St higher but on track for deep weekly losses
13 Agosto 2017, 05:52 | Azura Castelo
Markets extend losses as Korea tensions escalate
Gold prices climbed to two-month highs on Friday, rising for the fourth straight day as investors sought refuge amid escalating tensions between North Korea and the United States, while bullion also received support from weak USA inflation data.
In an unusually quiet day of currency trading, it was the smaller emerging market currencies that stole numerous headlines.
Wall Street saw a stock sell-off on Thursday as rising tensions between the USA and North Korea filled investors with worry.
The dollar index, which measures against a basket of currencies, fell 0.05 per cent.
The pan-European FTSEurofirst 300 index .fteu3 lost 1.11 percent.
Geopolitical concerns took centre stage once again after President Donald Trump issued a new round of comments against North Korea.
The precious metal enjoyed a 2.2% rise to $1292 per ounce, close to its high for the year.
Minneapolis Fed President Neel Kashkari, who has advocated for the Fed to halt interest rate hikes until inflation picks up gain, on Friday said his colleagues are telling each other "a ghost story (http://www.marketwatch.com/story/feds-kashkari-says-central-banks-hawks-are-spooked-by-ghost-story-of-higher-wages-2017-08-11)" about higher wage inflation that scared them into raising short-term rates.
The dollar weakened after news that United States producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.
Macy's Inc. tumbled 10.2 percent after the company said its sales continued to decline in the second quarter. Bank of New York Mellon slid $2.09, or 3.9 percent, to $51.95, while Citizens Financial Group Inc. shed $1.32, or 3.8 percent, to $33.71.
Nvidia Corp.(NVDA) shares fell 5.3%, even after the chip maker posted upbeat earnings late Thursday.
Toshiba has at last reported earnings for the year ended in March, fending off a delisting for now, but the Japanese conglomerate could still be kicked out of the stock market if it cannot conclude the sale of its memory unit by the end of March.
After touching a more than two-month high at $1,291.86, spot gold last added 0.2 percent to $1,288.81 an ounce.
Earlier, the dollar slipped as low as 108.91 yen, its weakest level since June 14th, when the greenback fell as low as 108.81 yen.
U.S. crude rose 0.41 percent to $48.79 per barrel and Brent was last at $52.01, up 0.21 percent.
Yields on bonds move inversely to their price.
Benchmark US 10-year notes rose 9/32 in price to yield 2.2494 per cent, from 2.282 per cent late on Tuesday. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.
The bigger surprise is that the cost to protect against declines in the kiwi against the USA dollar for one month shot up to the most expensive levels since April.
The Standard & Poor's 500 index dropped 35.81 points, or 1.4 percent, to 2,438.21.
What to Look For When Buying Eclipse Glasses
The Bonner Springs City Library also has an eclipse program planned August 21, with a program in advance scheduled on August 16. For DSLR cameras, the best way to determine the correct exposure is to test settings on the uneclipsed Sun beforehand.
North Korea nerves push stocks to worst week since November
President Trump has warned that an attack by North Korea would mean "things will happen to them like they never thought possible". Trump's comments came after reports that North Korea has spurned a new round of sanctions approved by the UN Security Council.
Jamaican team hold Usain Bolt's fate in their hands
His latest ranking puts him ahead of any baseball player, and just behind golfer Jordan Spieth and basketball player Derrick Rose. Yet while they promise they still have more to give, Philip insists the bumper home crowd made their job that little bit easier.
Get 20/1 Special Price on Man City to Beat Brighton
So as the Premier League season gets underway this weekend, I pick out a few ones to watch for the coming season. We have top quality". "I just think he was very clear showing what he did a year ago was not enough for him".