Published: Sat, August 12, 2017
Money | By Armando Alvarado

Dow Jones stumbles on Trump's North Korea threats


The Nasdaq gave up 13.31 (-0.21 percent) to close at 6,370.46, while the S&P 500 finished at 2,474.92, down 5.99 (-0.24 percent) from its open.

The utilities index.SPLRCU, 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.

Trump was responding to North Korea's claim it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific territory of Guam.

Canada's main stock index turned slightly higher in early trade on Wednesday, as gains for gold miners and energy companies with higher commodity prices offset falls among financials. Pyongyang said it was examining plans for attacking Guam, a US territory in the Pacific that has a USA military base.

Market analysts expect that the pullback in stocks due to the increasingly aggressive tone in exchanges between Washington and Pyongyang will continue, although investors hope that the selling will not escalate to a correction - a decline of 10 percent or more. The Dow slid 0.2 percent to 22,085.34. The Nasdaq and the S&P 500 are rebounding after ending Thursday's trading at their lowest closing levels in a month.

Considerable weakness is also visible among tobacco stocks, as reflected by the 1.1% drop by the NYSE Arca Tobacco Index.

The weakness on Wall Street reflects geopolitical concerns amid a continued increase in tensions between the U.S. and North Korea.

The CBOE Volatility Index, better known as the VIX and the most widely-followed barometer of expected near-term stock market volatility, closed at 10.96, its highest in about a month.

Here's Why Monmouth Real Estate Investment Corporation (MNR) Trending These Days
Finally, Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. COPYRIGHT VIOLATION NOTICE: This report was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport.

Shares rose more than 1.3% or 4.9p to 388.5p.

Inflation has risen 1.7 percent over the past 12 months, suggesting inflation pressures remain well under control. Netflix lost 1.5 per cent. "When earnings are not beating expectations there's a sell off in the companies, and we're just not seeing that money reinvested because of the geopolitical risks".

The heavyweight financials sector, which accounts for more than a third of the index's weight, was down 0.25 percent as USA and Canadian bond yields fell.

The weakness among oil service stocks comes even though the price of crude oil for September delivery is inching up USD0.01 to USD49.18 a barrel.

US trading volume has been low with summer setting in and Congress expected to be in recess until September 5.

The biggest fallers were G4S down 24.7p to 305.9p, Standard Chartered down 20.9p to 783.1p, Prudential down 44p to 1,841.5p, Shire down 92p to 3,945p. The euro rose to $1.1812 from $1.1774.

Tokyo's Nikkei 225 share index closed down 1.3 per cent at its lowest since June 1 as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1 per cent to seven-week lows. The Shanghai Composite Index lost 0.2 percent to 3,273.71 and Hong Kong's Hang Seng was off 0.2 percent at 27,803.55.

Like this: