Wall St opens higher after tepid inflation data

Financial Markets- US stocks close lower snapping Dow's 10-day winning streak

Financial Markets- US stocks close lower snapping Dow's 10-day winning streak

The tentative gains "suggest that the headline shock value pertaining to the US-North Korea standoff is starting to dissipate, which is to say actual action will now speak much louder than words", said Briefing.com analyst Patrick O'Hare. The CBOE Volatility Index, also known as Wall Street's "fear gauge", jumped 15 percent to approach a two-month high. "The gold market shows various signs of ambivalence and we believe that this pattern will continue into the foreseeable future", Norbert Rucker, head of macro & commodity research at Julius Baer, said in a note.

Traders' screens were in the red in Asia and Europe as investors fled to safe haven assets after US President Donald Trump doubled down on his North Korea rhetoric.

The DAX index continued to move lower yesterday as the stock markets are clearly spooked by the rise in the war of words between the U.S. and North Korea.

"A pullback is good so the market doesn't get unidirectional". The Nasdaq composite lost 0.2 per cent, to 6,370.46.

The S&P 500, which had its biggest one-day drop in nearly three months on Thursday, was on track to post its biggest weekly decline since November.

"That may have weighed a little bit" on markets, said Phil Guarco, global investment specialist J.P. Morgan Private Bank.

Geopolitics aside, investors were also focused on United States economic data and monetary policy, following the release of inflation data, Erlam said. The S&P 500 and Dow were both coming off record highs. Investors' uncertainty, measured by the VIX volatility index, is still at higher levels not seen since the election, but stock markets are back to positive returns. It slipped Friday but was still on track to end the week up around 50%.

Beyond geopolitical concerns, investors continued to size up company earnings reports.

Shares of J.C. Penney (JCP) are moving sharply lower in pre-market trading after the department store operator reported a wider than expected second quarter loss despite better than expected revenues. "That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group in NY. On the Nasdaq, 1,462 issues rose and 1,227 fell.

The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment.

MSCI's emerging market index snaps a three-day winning streak to fall 0.7 percent - its steepest daily decline since early July. South Korea, a tech-focused modern economy which accounts for roughly 2% of global GDP in its own right, would also be devastated-and would undoubtedly bear the brunt of the human toll, as well. China's Tencent Holdings, whose surge in 2017 has been key to the Hang Seng's gains, fell 4.9% Friday.

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