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Wall St ends off lows as traders buy N. Korea dip

12 August 2017, 06:32 | Joann Bryant

Pyongyang North Korea — Arirang August 2007. Image by via Flickr

Gold price jumps on Trump comments North Korea

The S&P had been down 0.52 percent at its session low.

Tensions with North Korea appear to have finally shaken the confidence of U.S. investors, after the S&P 500 opened 0.8% lower, threatening to end its 15-day streak with a closing streak of more than 0.3%, a 90-year record.

"If you strip away what's going on in North Korea, and if you strip away what's going on in Washington, which are things that are tougher to predict, the economy, the global recovery, earnings, it all paints a very positive picture for the rest of the year", Kravetz said.

Still, there were fewer signs of anxiousness in the markets Friday.

Investors also drew some encouragement from new government data showing USA inflation at the consumer level inched higher last month.

Security outsourcing group G4S was the biggest faller after it reported slower than expected growth in the second quarter but held its first-half dividend steady, as management declared their increased confidence in prospects thanks to the "substantial progress" being made with restructuring.

Shares of Snap were off about 15 percent premarket following the social media company's earnings that came below estimates and a slew of price target cuts.

Traders work on the floor of the New York Stock Exchange in New York City, NY, May 18, 2017. The collapse of sterling after the Brexit vote past year helped boost profits by 16%, the company said, adding that strong United Kingdom operations and acquisitions had also contributed to the rise.




As impressive as that is, the Dow is only up about 400 points, or 1.8%, during its recent string of records.

Strong gains in NY, where the Dow saw repeated record highs up until three day ago, had kept investor optimism high when news of the conflict first broke, Currie said.

Bond prices were little changed.

European markets fared much the same fate with the DAX closing 1.12% lower at 12,154.00, and the CAC 40 down 1.40% at 5,145.70. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet. The September copper contract was down two cents to US$2.91 a pound.

The dollar slipped to 109.04 yen from 109.26 late Thursday.

The FTSE 100 has fallen by more than 100 points in today's trading so far, as investors continue to act on North Korea-related jitters. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners.

Travel website operator Priceline fell 7.26 percent, weighing the most on the S&P and the Nasdaq, following a disappointing forecast.

In Asia, several indexes closed lower overnight. Hong Kong's Hang Seng added 0.6 percent. The fact that ended with a 1%-plus drop, however, might be good news. Japan was closed on a public holiday.



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