TSX closes 143 points lower, gold rises amid US-North Korean tensions

South Korean stocks aren’t perturbed by the nearby geopolitical

South Korean stocks aren’t perturbed by the nearby geopolitical

XAutoplay: On | Off Gold climbed as traders exited stocks and fled to more secure ground, as the back-and-forth saber-rattling between the US and North Korea escalated.

The flight-to-safety into U.S. Treasuries also abated overnight. The Russell 2000 index of smaller-company stocks gave up 6 points, or 0.5 percent, to 1,390.

The dollar slipped below ¥110 in Tokyo trading on Wednesday, as the yen attracted safe-haven buying on growing geopolitical risks over North Korea's missile and nuclear development programs.

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

The benchmark S&P 500 index tumbled more than 1 percent on Thursday, only the third time this year it has fallen that much, while the Nasdaq shed more than 2 percent.

The Dow ended down 0.2% and the S&P 500 narrowed to a fractional loss.

The tech-heavy Nasdaq composite bore the brunt of the sell-off, losing 135.46 points, or 2.1 percent, to 6,216.87. The 10-year Treasury note yield initially fell to a six-week low of 2.212 percent as bond prices rose, but climbed back to 2.250 percent.

Alvaro Morata: I can't wait to get started and prove doubters wrong
But I'm not obsessed in that sense as I would change it for any collective title. "I think I had to leave Madrid", he added. And it's something that motivates me and makes me work harder every day, to spend an hour every day in training.

"Of course it's all come at a time when share markets are due for a correction so North Korea has provided a ideal trigger".

The threat followed U.S. President Donald Trump's warning on Tuesday that any threats by Pyongyang would be "met with fire and fury like the world has never seen".

US producer inflation is expected to come in at 0.1%, unchanged from the previous month.

Economic data showed USA worker productivity rose more than expected in the second quarter but the trend remained weak.

Traders snapped up shares in companies that delivered strong quarterly results.

Many market participants have been calling for a significant decline on the S&P 500.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks.

Saudi Falih says talks with Iraq focused on oil pact, investment discussed
The agreement was also supported by 11 non-OPEC states, which promised to jointly reduce oil output by 558,000 barrels per day. July output from OPEC nations hit 32.87 million barrels per day, up from June's 32.69 million.

Meanwhile, gold stocks are bucking the downtrend, driving the NYSE Arca Gold Bugs Index up by 1.2 percent.

In other energy futures trading, wholesale gasoline dipped 1 cent to $1.62 a gallon. The euro fell to $1.1735 from $1.1752. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet.

Appetite for so-called haven assets continued to support gold, which rose 0.3% Friday to $1,294.00 a troy ounce.

Neil Mellor, a currency strategist with Bank of New York Mellon in London, said the pound was "drifting towards the lows from last month against the dollar".

Major stock indexes overseas also racked up losses Thursday.

The Dow Jones industrial average lost 71 points, or 0.3 percent, to 22,013. Britain's FTSE 100 added 0.1 percent.

Trader reaction to company earnings also contributed to the slide on Wall Street, which had been trading in record territory. Australia's S&P/ASX 200 edged down almost 0.1 percent. Australia's S&P/ASX 200 edged down almost 0.1 percent to 5,760.90, while South Korea's Kospi fell 0.5 percent to 2,357.84.

Stock markets slip as North Korea tensions build
In London trade, gold producers were a bright spot as prices for the metal leapt more than 1% to around $1,279 an ounce. Mike van Dulken, head of research at Accendo Markets, said, "The negative European open comes as U.S".

Recommended News

  • 1MDB makes payment to IPIC

    1MDB makes payment to IPIC

    Malaysiakini has contacted 1MDB president Arul Kanda Kandasamy for a response to these allegations. "This allowed 1MDB to pay US$350 mil (RM1.5bil) to IPIC as part of the settlement", he added.
    Economic Survey warns of dangers of sustained deflation

    Economic Survey warns of dangers of sustained deflation

    Retail inflation in June fell to its lowest level in more than five years to 1.54 per cent. The RBI recently cut repo rate by 25 basis points bringing interest rates down to 6%.
    ISIS Used eBay As Part Of Terror Network, Unsealed FBI Affidavit Shows

    ISIS Used eBay As Part Of Terror Network, Unsealed FBI Affidavit Shows

    An FBI affidavit states that the operatives were based in Britain and Bangladesh. . The company is assisting authorities, it said.
  • Pepsico, Inc. (NYSE:PEP) Stake Lowered by Nikko Asset Management Americas Inc

    After $1.50 actual EPS reported by PepsiCo , Inc. for the previous quarter, Wall Street now forecasts -5.33 % negative EPS growth. Over the last five days, shares have managed 0.3% gains and now is up 6.46% since hitting its 200-day moving average of $112.24.
    Arsenal's Arsene Wenger not 'super optimistic' on Alexis Sanchez stay

    Arsenal's Arsene Wenger not 'super optimistic' on Alexis Sanchez stay

    Asked if any bids had been lodged for Sanchez, the Frenchman replied: "I can't tell you that at the moment". I think he will not play at Stoke, yes".
    Faf du Plessis all but confirms the Proteas' new coach

    Faf du Plessis all but confirms the Proteas' new coach

    I spoke to Ben Stokes and he said he's a really good bowling coach, but I'm not sure what he'll be like as a head coach. To lose that will not be nice. "But the other side is that someone will come in with some fresh ideas".
  • Of Nevada Inc. Has $829000 Position in Express Scripts Holding Company (ESRX)

    New York Life Investment Management Llc sold 218,500 shares as the company's stock declined 14.09% while stock markets rallied. North Star Investment Management Corp. raised its position in shares of Express Scripts Holding by 1.3% in the second quarter.
    US Airstrikes In Somalia; High-Level Al-Shabab Leader Killed

    US Airstrikes In Somalia; High-Level Al-Shabab Leader Killed

    The vehicle was parked near the popular Al-Kowther Shopping complex minutes before it went off. The situation of the injured officer is yet unclear.
    HTC set to debut 'U11 Life' handset later this year

    HTC set to debut 'U11 Life' handset later this year

    The leaked image of the phone suggests that its frontside resembles with HTC U11 and HTC 10 from the previous year. Earlier this week, news about HTC enabling 60 FPS video recording (1080p) for the U11 emerged as well.
  • CBS Corporation (NYSE:CBS) Earning Somewhat Favorable Press Coverage, Study Finds

    Analysts are expecting EPS growth rates to be at 9.00% this quarter and EPS estimate for next year reflect 15.69% growth rate. CBS's current price-earnings ratio amounts to 18.30 times earnings, below the average P/E ratio of 19.55 times earnings.
    DSP Traffic, driver killed in Karachi

    DSP Traffic, driver killed in Karachi

    On July 24, a traffic policeman was killed and another was injured in a firing incident near Abul Hasan Isphani area of the city. On June 23, four police officials were martyred in a gun attack by unknown assailants in the city's SITE area.
    Senate rejects gay marriage plebiscite

    Senate rejects gay marriage plebiscite

    The Senator made it clear Labor would be opposing the motion to hold a plebiscite and has urged all senators to do the same. But if the public voted overwhelmingly to legalise gay marriage, Mr Abbott said he would respect the result.

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.