Wall St higher but on track for deep weekly losses

Reuters

Reuters

USA stock indexes were set to open little changed on Friday, with the S&P 500 on track to post its biggest weekly loss in nine months, as investors remained cautious on heightened tensions between the United States and North Korea.

On average, the S&P 500 falls 5% or more every 10 weeks and the index falls 10% every 33 weeks, according to data analyzed by AllianceBernstein going back to 1928.

The Nasdaq Composite dropped 40.64 points, or 0.64 percent, to 6,311.70.

Japan's Topix index had the biggest slide in nearly three months, while European-index futures fell as investors took advantage of the latest volley of words to take some profit after global equities climbed to record highs this week.

USA stocks were lower yesterday as investors rushed to safe-haven assets after President Donald Trump's "fire and fury" warning to North Korea escalated tensions with the nuclear-armed nation. Markets in greater China mirrored the slide in global equities.

The technology sector was the S&P's biggest drag with a 2.2 percent drop.

PGA Championship tee times, pairings: Field for Round 3 on Saturday
The 25-year-old Japanese star already was 5 under for his round in tough conditions, and he added two birdies after the rain. McIlroy had a three-hole stretch Thursday that included a double bogey after he had reached 2 under for the tournament.

Losses in health care and consumer-focused companies pulled US stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

On Thursday, the CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the USA presidential election.

Shares of Kohl's were down 8.4 percent, while Macy's fell 4 percent after the department store operators reported a fall in sales.

Gold fell $2.10 to $1,262.60 an ounce.

Retailers' results are being keenly watched by investors to gauge the companies' strategy to counter No. 1 online retailer Amazon.com's growth.

South Korea's benchmark Kospi index lost 1.1 per cent.

Mourinho reveals United are in talks with Ibrahimovic
In the cups we never lost, and in the Europa League , we never lost, so for the whole season, we lost one match. "But to have a better position in the table we must win more matches than we did last season ".

In currencies, the yen strengthened 0.64 per cent versus the greenback at 109.37 per dollar.

"The market is realising that economies are doing well enough for both the Fed and the ECB to remove stimulus", Ken Peng, a Hong Kong-based investment strategist at Citi Private Bank, said.

Economic data showed United States producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while separate figures showed the number of Americans filing for unemployment benefits unexpectedly rose last week.

U.S. Treasury long-dated yields dropped to six-week lows, pressured by U.S.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London.

The 30-year bond last rose 5/32 in price to yield 2.8107 per cent, from 2.818 per cent late on Wednesday.

Library to host solar eclipse program
It is estimated that the total solar eclipse in Oak Ridge will last 27 to 31 seconds at approximately 2:33 p.m. Library hosts will be present in the council chambers from 11 a.m. until after the eclipse has ended.

"For now, the uptrend is very much intact in gold, reacting to external geopolitical events", said Jonathan Butler, commodities analyst at Mitsubishi in London.

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