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North Korea talk drags stocks lower; gold, yen rise

12 August 2017

But U.S. stocks regained some lost ground, despite Trump's comments Friday that U.S. weapons are "locked and loaded", ready to respond if North Korea acts "unwisely".

Oil futures ended higher today, but banked a second weekly decline, after the International Energy Agency (IEA) said some members of the Organization of the Petroleum Exporting Countries (OPEC) are "showing signs of weakening their resolve" to stick to output agreements.

The S&P 500 Index (SPX - 2,441.32) gained back 3.1 points, or 0.1%. The Dow is down 48.57 points or 0.2% at 22,036.77, the Nasdaq is down 20.93 points or 0.3% at 6,349.53 and the S&P 500 is down 3.18 points or 0.1% at 2,471.74. But it was up 10 percent in 250 days.

The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95, the lowest level in two months. North Korea responded with threats to launch missiles into the Pacific Ocean near Guam, a US territory.

In UK stocks, Worldpay Group was among the biggest risers after the firm agreed a £9.3bn merger deal with USA rival Vantiv in a tie-up that will create a global payments processing giant with a combined value of £22.2bn.

Trump returns to the attack on North Korea with fresh threats
After Trump's " fire and fury " comment, Pyongyang announced it was examining plans for attacking the tiny Pacific island of Guam. Fazio's caption indicated he'd golfed with the president Wednesday at Trump's Bedminster , N.J., course. "We're getting close.

Trading will also be moderated by a lack of legislative news from Washington as the U.S. Congress is in recess until Sept 5.

Emerging market stocks rose 0.29 percent.

Shares of Snap were down as much as 14.23 percent and hit an all-time low following a miss on revenue and daily active users. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners.

Disappointing company earnings and outlooks put traders in a selling mood.

Stocks are often shocked into a quick decline when a major geopolitical event occurs, but the ability to recover has been very different.

Renaissance Technologies LLC Lowers Position in Investors Real Estate Trust (IRET)
Eagle Boston Investment Management Inc decreased Mercury Systems Inc (MRCY) stake by 9.72% reported in 2016Q4 SEC filing. Among 27 analysts covering Nordstrom Inc. (Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell).

On the other hand, gold stocks have shown a strong move to the upside on the day, driving the NYSE Arca Gold Bugs Index up by 1.5%.

FASHIONABLE RESULTS: Investors cheered Ralph Lauren's latest quarterly results, sending the designer clothing company's shares up 11% to $86.74.

BONDS: Bond prices rose. It added 39 cents to $49.56 a barrel overnight. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

The dollar is down 0.21% against sterling at the time of writing and down 0.27% against the Japanese yen.

Raising their forecasts for the euro, Morgan Stanley analysts said Switzerland's asset management industry, which has held or hedged huge inflows in francs since the euro zone's debt crisis took hold in 2010, would finally begin to reduce its franc position in the months ahead.

2 large lottery jackpots up for grabs this weekend
Americans are actually more likely to get struck by lightning with a one in 13,500 chance than winning the lottery. It was the largest lottery jackpot ever won in New Hampshire and the eighth-largest of any jackpot in US history.

Markets also awaited United States inflation figures, as measured by the Consumer Price Index (CPI), which is set to signal how fast USA interest rates will rise. Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent.

North Korea talk drags stocks lower; gold, yen rise