Wall St rebounds on Fed bets but set for weekly loss
14 August, 2017, 01:24 | Author: Samuel Sharp
Stocks around the world fell sharply on Thursday and investors moved into the yen, gold and other safe-haven assets amid more aggressive talk between the United States and North Korea.
Shares of Snapchat parent Snap Inc.(SNAP) slid 11% a day after the company's earnings missed forecasts (http://www.marketwatch.com/story/snap-ceos-promise-cant-overcome-declining-ad-rates-stock-heads-toward-new-lows-after-earnings-2017-08-10), and the social-messaging company disclosed that average ad prices fell in the second quarter.
Japanese markets were closed for a holiday, but the tense mood dragged Asian shares lower and an MSCI index of stocks across the globe .MIWD00000PUS posted its largest weekly drop since the week before Donald Trump won the US presidential election in November.
The dollar widened losses against the yen to hit a two-month low. In a tweet, President Donald Trump warned of military action "should North Korea act unwisely", noting that the U.S.is "locked and loaded".
"The escalation of the geopolitical situation between the US and North Korea is beginning to rattle investors' nerves as was witnessed in the VIX index yesterday", said Peter Cardillo, chief market economist at First Standard Financial.
"We're still close to the all-time high so that makes people a little nervous too, so they might say now might be the time to take a little bit of money off the table".
The pan-European FTSEurofirst 300 index .FTEU3 lost 1.01 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.26 percent for a weekly loss of 1.6 percent, the largest since the week to November 4. With the sell-off on the day, the Nasdaq and the S&P 500 fell to their lowest closing levels in a month. US -traded Nikkei futures NKc1 fell 2 percent to their lowest since mid-May.
"The yen is the big story really. The market is interpreting it as lowering the odds of the Fed raising rates in December", said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta.
The Labor Department said on Friday its Consumer Price Index edged up 0.1% in July, which was below the 0.2% rise expected by economists polled by Reuters.
Weaker-than-expected July consumer price data pointed to benign inflation that could cause the Federal Reserve to hold off from raising rates again this year. The dollar hit an eight-week low against the yen Thursday on U.S. US wholesale prices declined in July for the first time in nearly a year.
The 30-year bond was last up 4/32 in price to yield 2.7871 percent, from 2.794 percent late on Thursday.
Crude futures extended losses on fears of slowing demand and lingering concerns over a global oversupply. It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election.
USA gold futures for December delivery rose 0.2 percent to $1,281.90 per ounce on Thursday.
This gave investors some hope at the end of a jittery week, which could show the S&P's biggest weekly loss in more than four months, primarily due to a continuous exchange of threats between the United States and North Korea.
"Gold and silver are higher, thanks mainly to their status as safe-haven commodities".
At the beginning, showers and thunderstorms looks to stay fairly scattered and then becoming more wide spread by Tuesday . Temperatures appear to be sticking in the upper 70s and lower 80s throughout much of the week as well.
The visitors created the better of the first-half openings before Rooney's goal swung the momentum firmly into Everton's favour. Koeman has already concluded Wayne Rooney's days as a striker are over and he sees the returning Evertonian in a deeper role.
Trubisky replaced Sanchez with 1:55 left in the first half, engineering a 6-play, 50-yard touchdown drive in two-minute mode. Despite this, Bears head coach John Fox noted Thursday night that the team's quarterback depth chart will remain unchanged.
During his campaign he threatened to tear up the 2015 nuclear deal with Iran, which he has called "the worst deal ever". Tehran says its missile program does not breach a United Nations resolution which endorsed the nuclear deal.
The incident marked the second time in less than a year that a auto broke through the barriers of the same parking garage. A lucky SUV driver in Texas narrowly escaped being crushed by a BMW that plummeted seven stories off a parking garage.
The alert did not state who owned the plane, but said it "will be large and may fly directly over the U.S. The flight was carried out in the framework of the open skies Treaty between the two countries .
Shortly after the drowning, IOM staff found shallow graves of 29 migrants on a beach in Shabwa, the United Nations agency said . This year 55,000 African migrants reached Arabian Peninsula through this unsafe route, IOM said.
It's not an excuse, but it took a lot more out of me than I realised". "The better man won on the day but I gave it all". However, Edris and team-mate Yomif Kejelcha seized the initiative as the bell went and Farah struggled to go with them.
She added that a male employee had joined her team with a higher salary than her, despite her being his superior in the company. Damore claimed Google's obsession with diversity is so pervasive that "it may definitely be biasing who they do business with".
A giant inflatable chicken with perfectly coiffed, blond hair was set up right outside of the White House on Wednesday. The inflatable chicken seems to be modeled after a 23-foot statue outside a mall in the Chinese city of Taiyuan.
FTSE ends down as shares hit by US-North Korea tensions
South Korea 's fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent. Defense and home improvement stocks were among the day's risers while travel & tourism and consumer electronics lagged.
Snap Inc. (NYSE:SNAP) Sets New 52-Week Low at $14.16
That represents a decline of almost 50 percent from an all-time high of $27.09 on March 3, Snap's second day of trading. Kees said it's too early to determine the impact of new products as well as the effectiveness of Snap's ad platform.
Facebook Watch Is Looking To Launch New Types Of Shows
The new Facebook Watch platform, on the other hand, aims to provide users with original content that's not found elsewhere. Facebook has made a declaration that it will indeed be funding the shows that will be appearing on its services.
Microsoft Surface devices fail on reliability
My own personal preference stands with purchasing Surface product only if you need the extra battery life and portability factor. In total, the company surveyed 90,000 tablet and laptop owners, but it's unclear how many of them were Surface holders.