Dow winning streak snapped as stocks drift lower

Dow winning streak snapped as stocks drift lower

Dow winning streak snapped as stocks drift lower

Global stock markets have sunk further into the red after Donald Trump ratcheted up his fiery rhetoric over North Korea's nuclear threats.

The utilities index, often seen as a bond proxy because of its companies' slow reliable growth and high dividends, was the only S&P sector that ended the day up, showing a 0.25 percent gain.

The Russell 2000 index of smaller companies gave up 24.40 points, or 1.7 percent, to 1,372.54. Netflix also fell, giving up $4.37, or 2.4 percent, to $174.

The focus on North Korea has largely overshadowed a Labor Department report showing an unexpected drop in USA producer prices in the month of July.

Investors have been jittery about North Korea since Tuesday when Trump said any threats from Pyongyang would be "met with fire and fury like the world has never seen".

Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry. The stock fell $3.30 to $30.09. The stock fell 85 cents to 12.76.

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As a matter of urgency, Ruggiero argued, the USA should punish Chinese banks and companies helping North Korea evade sanctions. The centerpiece of the United Nations sanctions is a ban on North Korean exports of coal, iron, lead and seafood products.

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

Perrigo surged 11.10 percent after the drugmaker raised its full-year adjusted profit forecast. The stock was the biggest gainer in the S&P 500, adding $8.02 to $45.25.

Switzerland's franc on Wednesday posted its biggest single-day rise against the euro since the central bank removed its cap on the currency in January 2015.

Oil prices rose before a report expected to show USA crude stocks fell for a sixth week. Brent crude, the worldwide standard, lost 23 cents to 52.14 dollars a barrel in London. Wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet. Tokyo's Nikkei 225 tumbled 1.3 percent, while Seoul's Kospi fell 1.1 percent. Discovery Communications fell 94 cents, or 3.9 percent, to $23.36.

December gold jumped $16.70, or 1.3%, to settle at $1,279.30/oz.

The Dow Jones Industrial Average shed 0.2 per cent to close the day at 22,048.70.

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Thongloun said he was sorry he had not responded to an Aug 2 letter from Hun Sen seeking withdrawal of the troops. According to Hun Sen the Laos soldiers crossed into Cambodia to halt the construction of a road.

US stocks opened higher on Friday after suffering their worst single-day losses since mid-May on Thursday. The euro slid to $1.1752 from $1.1793.

"The markets are looking for direction after Wednesday's sharp moves and geopolitical concerns will dominate investor mindsets in the coming days", said Esther Maria Reichelt, an FX strategist at Commerzbank in Frankfurt.

Global benchmark Brent also fell 0.9 per cent to US$51.44, after Thursday's 1.5 per cent drop.

Australian shares were down 1.3 percent, set for a weekly loss of 0.6 percent and Chinese and Hong Kong bluechips lost 1.6 percent and 1.9 percent respectively.

Disappointing earnings also helped pull the market lower Wednesday.

All three major equity benchmarks stumbled firmly lower on Thursday, with the trifecta of indexes on track to fall in three consecutive sessions in unison for the first time since mid April amid a persistent war of words between the USA and North Korea.

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Currently Coeur Mining Inc (NYSE:CDE)'s shares owned by insiders are 0.3%, whereas shares owned by institutional owners are 75.6%. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01).

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