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lakeelmoleader.com August 22, 2017


North Korea Has Markets Nervous But Not Panicked

14 August 2017, 01:44 | Frank Carlson

Seoul stocks down 1.1% on heightened tensions over North Korea

FTSE 100 preview Geopolitical worries to pressure index

While markets shrugged off news earlier in the day that North Korea had developed nuclear warheads, Trump's threatening reaction later in the day prompted a more nervous reaction from investors. Health care companies were among the gainers.

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.

The Wells Fargo Investment Institute describes the market response, so far, as "tepid".

The dollar-denominated RTS index was down 1.5 percent at 1,013 points as of 0834 GMT, taking its year-to-date loss to 12 percent. Eastern time. The Dow Jones industrial average slid 84 points, or 0.4 percent, to 22,000. Earlier, the average had been down more than 88 points.

The Nasdaq finished the day at 6,216.87, a slide of 135.46, while the S&P 500 lost almost 1.5 percent, ending the day at 2,438.21. 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.

Wall Street indices suffered their biggest losses in almost three months on Thursday, while the dollar struggled to recover from eight-week yen lows.

U.S. President Donald Trump, in his latest warning to North Korea, said military solutions were "fully in place" and referred to American weapons as being "locked and loaded" should the nuclear-armed nation act "unwisely".

The back-and-forth came on the heels of reports the U.S. intelligence community has determined North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.

Tillerson tries to tone shit down after Trump's irresponsible nuclear threats
Trump and North Korea have been exchanging escalating threats, with the North saying it was examining plans for attacking Guam. One said "Trump vows USA "power" will meet North Korean threat".

Oil prices were under pressure (http://www.marketwatch.com/story/oil-prices-head-lower-as-global-tensions-continue-unabated-2017-08-11), with prices ticking lower after the International Energy Agency said oil supply rose for a third month as compliance with an OPEC output deal faltered. But the moves were modest.

METALS: Gold added $10.80, or 0.8 percent, to settle at $1,290.10 an ounce.

Outside of geopolitical concerns, disappointing company earnings and outlooks put traders in a selling mood.

Priceline Group slumped 6.5 percent after issuing a profit forecast that was weaker than analysts were expecting. The stock lost $5.23 to $101.75. The stock lost $4.15 to $102.83. The DJIA was poised for a fall of 1.1%, making for its worst week since a 1.5% drop in the one ended March 24.

MEDIA MALAISE: Shares in several other big media companies were down.

Charter Communications rose 2.9 percent on news Altice is exploring a bid for the cable giant.

CURRENCIES: The euro slipped 0.1 percent to $1.1176 while the dollar was steady at 109.20 yen.



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