Monday, 18 June, 2018

Data, North Korea tensions set to dominate discussions on Wall Street

UPDATE 1-Euro zone bond yields drift back up on firmer oil, ECB caution Data, North Korea tensions set to dominate discussions on Wall Street
Preston Stone | 06 September, 2017, 13:28

European stocks extended declines Wednesday but Wall Street could be looking at a modest rebound after the biggest single-day loss for USA markets in three weeks amid ongoing concern over President Donald Trump's handling of the crisis in North Korea and the potential costs of Hurricanes in Texas, Louisiana and Florida.

About 15 minutes into trading, the Dow Jones Industrial Average was at 21,892.15, down 0.4 percent.

US stock index futures were modestly lower on Monday, paring losses from Sunday after North Korea said it conducted a hydrogen bomb test. Financials were the worst-performing sector, dropping 2.2 per cent for their biggest one-day fall since mid-May as US Treasury yields dropped sharply. The dollar index, a measure of the greenback's strength against a basket of six global currencies, was marked 0.11% lower at 92.15 by 05:30 Eastern Time.

As of 12:23 BST, the FTSE 100 had lost 4.88 points to stand 0.07 percent lower at 7,406.59.

North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, marking a dramatic escalation of the regime's stand-off with the United States and its allies.

Mom pulls gun during a Walmart 'back to school' scuffle
While there, the unnamed 32- and 46-year-old pair came across another woman, 20, shopping with her 51-year-old mother. In the video, we see the 20 year-old woman kneeling on the floor while two other women seem to pull her hair.

In the stock market today, Goldman Sachs (GS) and JPMorgan (JPM) also lagged in the Dow with losses of around 3%. The average had been down more than 277 points.

The blue chip index slipped just 8 points in early trading to 7,429.6.

Shares in United Technologies Corp (UTC) fell 2.5% after the company, which makes Pratt & Whitney jet engines, agreed to buy airline parts maker Rockwell Collins for $30bn (£23bn). The index on Tuesday fell 0.5%, hurt by geopolitical worries and a jump in the pound to a three-week high above $1.30. Investors have since grown skeptical and now give a December rate hike a 27 percent probability, down from 30 percent before Brainard spoke.

Meanwhile, Irma, a unsafe, monster-sized hurricane was moving towards the Caribbean islands at about 270 miles from east of the island of Antigua. The contract gained $1.37, or 2.9 percent, to settle at $48.66 a barrel on Tuesday.

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