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lakeelmoleader.com September 22, 2017


North Korea tensions continue to weigh on global stocks

14 August 2017, 01:26 | Frank Carlson

GETTYGold prices have jumped amid North Korea war fears

GETTYGold prices have jumped amid North Korea war fears

Gains among technology companies helped snap a three-day losing streak for USA stocks Friday, though the market ended with its worst weekly loss since March.

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 global oils, declined 20 cents to $51.70 per barrel in London.

The three main indexes were all down Thursday with the Dow Jones industrial average off 0.93% at 21844.01 points, the Standard and Poor's 500 fell 1.45% to 2438.21 points and the Nasdaq composite lost 135 points, or 2.13%, to close at 6216.87 points.

Japanese markets were closed for a holiday but the yen powered on, hitting an eight-week high of 108.91 yen to the dollar, adding to its biggest weekly gain since May.

Traders said hedge funds had cut leveraged bets against the franc, prompted in part by worries about increased US-North Korea tension.

Major indexes in Europe closed mostly lower.

Russian Foreign Minister Sergey Lavrov warned on Friday that a war between the USA and North Korea would be disastrous, and said his country was proposing - in conjunction with China - a path to a peaceful resolution of the nuclear standoff.

A weaker-than-expected July consumer price data also supported the recovery.

Investors also drew some encouragement from new government data showing USA inflation at the consumer level inched higher last month. The Nikkei share average was down Thursday as market participants watched North Korea-U.S. developments.

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Disappointing US inflation and jobs data have not helped the dollar. Seagate shares rose 74 cents to $32.29. The Nasdaq added 39.68 points, or 0.6 percent, to 6,256.56. Silver gained 1 cent to $17.07 an ounce.

The sell-off is likely to extend into the European session, with financial spreadbetter CMC Markets expecting Germany's DAX and France's CAC 40 to open down about 0.7 per cent each and Britain's FTSE 100 to start 0.55 per cent lower.

Oil futures prices fell Thursday on a report from the Organization of the Petroleum Exporting Countries that said crude production among the group's members rose in July.

"North Korea doesn't seem like they're going to back down and the US has also made a very strong stance this time".

Keeping up his tough talk, U.S. President Donald Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face the consequences, and suggested that his earlier threat to unleash "fire and fury" on North Korea was too mild.

"If the USA and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so", the editorial's authors said.

Emerging market stocks .MSCIEF lost 1.27 percent.

Meanwhile, the Russell 2000 index of small-cap stocks looked poised for a weekly drop of almost 3%, its biggest one-week decline since February 2016. US -traded Nikkei futures NKc1 fell 2 percent to their lowest since mid-May. Four that are controlled by Dhanin and his family - Charoen Pokphand Foods, CP All, Siam Makro and True Corp. - are ranked by analysts in the region's top 20 in terms of return potential over the next 12 months.



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