Published: Thu, August 10, 2017
Hi-Tech | By Grace Becker

Markets Right Now: Stocks drift lower on Wall Street

Markets Right Now: Stocks drift lower on Wall Street

Pyongyang said on Wednesday it was considering plans for a missile strike on the US Pacific territory of Guam, just hours after Trump said North Korea would face "fire and fury" if it threatens the United States, his strongest warning yet for North. President Trump's comments about North Korea sparked geopolitical tensions and weighed on the market.

The drop by Disney comes after the company reported fiscal third quarter earnings that came in above estimates but on weaker than expected revenues.

The RBNZ, which kept interest rates unchanged at record lows of 1.75 percent, also said a lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth.

The CBOE Volatility Index (VIX - 11.11) gained 0.2 point, or 1.4%.

Networking, semiconductor, and internet stocks are also seeing some weakness, while gold stocks are moving notably higher amid a jump by the price of the precious metal. Should they start re-allocating, we believe a big move in global gold prices will inevitably ensue. Energy stocks also fell along with the price of crude oil. United Kingdom retail sales rose 0.9% annually in July, down from 1.2% the prior month.

"Tensions will continue to mount and could eventually develop into a "black swan" event that the markets are not prudently considering", said Steve Hanke, professor of Applied Economics at America's Johns Hopkins University.

Specs, features, pros and cons of T-Mobile's budget phone — Mobile's Revvl
It's already several Nougat versions behind, and with Android O due in a few weeks, it's about to be a full version behind. The T-Mobile Revvl comes with 2GB of RAM and 32GB of expandable storage, and a fingerprint sensor on the back.

In the latest USA economic data, the Labour Department's Job Openings and Labor Turnover Survey, or JOLTS, showed job openings rose by 461,000 to a seasonally adjusted 6.2 million, a record high. Its shares slid $9.77, or 5.3 percent, to $174.02. Netflix fell 3.2 percent.

CURRENCIES: The U.S. dollar fell to 110.32 yen from 110.74 yen late Monday in Asia.

In Europe, the pan-continental STOXX 600 index fell 0.9 per cent, with falls deepening after a auto rammed a group of soldiers in Paris, injuring six, in what officials said was a suspected terrorist attack.

The Dow Jones Industrial Average (DJIA) ended its streak of record highs today, finishing lower for a second session after dismal Disney earnings and amid building tension with North Korea. It was last up 1.2 percent at 1.1305 per euro. The Nasdaq was off 0.2 percent, to 6,370.46.

Gold bounced over the $US1270 an ounce level but closed at $US1266.50, a rise of 0.14%. TripAdvisor shares shed $2.70, or 6.8 percent, to $36.85.

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