USA stocks inch higher on Friday

Today in Korean history

Today in Korean history

US DATA: The other potential driver in markets will be upcoming USA economic data, including monthly inflation figures, which could go a long way to determining expectations for the pace at which the Federal Reserve raises interest rates. That weighed on bank shares, which were down the most.

At 12:36 p.m. ET (1636 GMT), the Dow Jones Industrial Average was down 158.98 points, or 0.72 percent, at 21,889.72 and the S&P 500 was down 27.37 points, or 1.11 percent, at 2,446.65. The Dow slid 33.08 points, or 0.2 percent, to 22,085.34. The Russell 2000 index of smaller-company stocks picked up 1 point, or 0.1%, to 1,373.

However, an Associated Press report that the US and North Korea have been engaged in back channel talks (https://apnews.com/686ac7c761694b28b67793a1d8297145?link=mktw) for several months even as they exchange incendiary threats helped to soothe some of the jitters. The Federal Reserve, which raised its key interest rate in March and June, has signaled it plans a third rate hike before the end of this year. But some economists say the Fed may stand pat for the rest of 2017 unless inflation accelerates in coming months. Trump's comments came after a Washington Post report that North Korea has built a miniaturized nuclear warhead.

"Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

At a briefing on opioid addiction at his golf course in Bedminster, New Jersey, Trump warned North Korea not to make any more threats against the United States, adding that North Korea would be "met with fire and fury like the world has never seen".

"The gold market shows various signs of ambivalence and we believe that this pattern will continue into the foreseeable future", Norbert Rücker, head of macro commodity research at Julius Baer, said in a note.

Gold extended gains after data showed USA 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. It's still the highest it's been since May.

Investors bid up technology sector shares. KLA-Tencor gained $2.62, or 3 percent, to $90.17. It soared over 2 percent in the previous two sessions, and is set for a weekly gain of 2.25 percent. Investor ValueAct disclosed that it had acquired a 7.2 percent stake in the digital storage company. Investors dipped back into stocks and retreated from assets they consider to be safer stores of value, such as gold.

The euro dipped 0.1 per cent to $1.1733 but the single European currency has been slipping this week against the dollar, having hit a more than 2 1/2-year high of $1.1892 on August 2. Shanghai's main index also tumbled 1.6 percent to 3,208.54 while Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10.

J.C. Penney (JCP.N) finished down 16.6 percent after hitting a record low following the retailer's bigger-than-expected quarterly loss. The stock lost $3.03 to $8.81. AES Corp. shed 26 cents, or 2.3%, to $11.12.

OIL: Benchmark U.S. crude rose 23 cents to settle at $48.82 a barrel on the on the New York Mercantile Exchange. Brent crude, used to price global oils, was down 35 cents to $51.55 a barrel in London.

The dollar was down 0.77 percent against the yen at 109.21 yen.

BONDS: Bond prices were rose.

But while most traders appeared to favor safe-haven assets, bargain seekers helped Wall Street's three major indexes pare the day's earlier losses.

Sterling was last trading at $1.3006, up 0.02 percent on the day. Britain's FTSE 100 was down 1%.

South Korea's won currency dropped 0.9 per cent against the dollar to its lowest close since 13 July. It was last up 1.2 percent at 1.1305 per euro. Japan was closed on a public holiday.

Recommended News

  • Google blesses Camera app with selfie flash option

    Google blesses Camera app with selfie flash option

    Other updates to "Google Camera" include the ability to double tap to zoom in and a new toggle to switch between camera functions. If you're in a rush, however, you can always download the signed APK from APK Mirror and sideload it yourself.
    Barnaby Joyce admits he may be a New Zealand citizen

    Barnaby Joyce admits he may be a New Zealand citizen

    Australia's deputy prime minister, Barnaby Joyce , has revealed that he may hold dual citizenship with New Zealand. He noted that the concept of New Zealand and Australian citizenship was not created until 1948.

    Cenovus Energy Inc (CVE) Rating Increased to Sell at BidaskClub

    The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.24. BidaskClub lowered Cenovus Energy from a "sell" rating to a "strong sell" rating in a research note on Thursday, June 22nd.
  • "Que te pongan una cláusula así te llena de alegría" — Pavón

    El viernes acompañarán al presidente Daniel Angelici en la conferencia de prensa que darán para informar los nuevos montos. Su representante, Fernando Hidalgo, dio a conocer la noticia.
    Venezuela rejects Trump's comments

    Venezuela rejects Trump's comments

    Credit Suisse is banning the trading and use of Venezuelan bonds, as the political crisis in the South American country escalates. Communist Party of Spain: We condemn the threat of war aggression of Donald Trump to Venezuela.

    DCT Industrial Trust Inc (NYSE:DCT) Issues FY17 Earnings Guidance

    BidaskClub downgraded DCT Industrial Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 30th. If you are reading this news story on another website, it was stolen and reposted in violation of global copyright laws.
  • "Wonderful gesture" - Phil Neville thanks Chelsea for selling Matic to Man United

    Football host Jake Humphrey was impressed with Matic's performance, tweeting "what were Chelsea thinking". I am very happy for the team and we we will have more confidence going into the next game.
    Renovará la BUAP a su rector el 11 de septiembre

    Renovará la BUAP a su rector el 11 de septiembre

    La Comisión Electoral, a su vez, está integrada por siete consejeros universitarios: dos directores, dos académicos, dos alumnos y uno no académico.
    Federer va por Montreal para acercarse al Nº1

    Federer va por Montreal para acercarse al Nº1

    El alemán irá ahora este domingo a un cara a cara contra el estelar veterano Roger Federer , segundo cabeza de serie. Este lunes, Nadal figurará segundo en el ranking con 7.555 puntos y Federer será tercero con 7.145 unidades.
  • Lalu demands Sushil Modi's suspension, probe by CBI into Bhagalpur scam

    Lalu demands Sushil Modi's suspension, probe by CBI into Bhagalpur scam

    Sushil Kumar Modi denied having anything to do with the scam. He should lodge an FIR against Modi and have him arrested.
    Vicente Fernández brilló por su ausencia en la boda de Vicente Jr

    Vicente Fernández brilló por su ausencia en la boda de Vicente Jr

    Entre los testigos que firmaron como testigos estaba Alejandro Fernández, que llegó acompañado de su novia Karla Laveaga y sus hijos Alejandro Junior y América.

    Christian Domínguez bailó con Isabel Acevedo tras escándalo con Karla Tarazona — El gran show

    En esta ocasión Christian y 'Chavela' movieron las caderas al ritmo del tema 'Despacito' de Luis Fonsi. Al ingresar al set, fueron recibidos con mucha alegría por la conducta Gisela Valcárcel .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.