Published: Mon, August 14, 2017
Global News | By Stacy Ballard

U.S. stocks inch higher on Friday

U.S. stocks inch higher on Friday

Oil prices fell for a third day on doubts over OPEC's ability to limit supply. Trump's comments came after a Washington Post report that North Korea has built a miniaturized nuclear warhead.

The Dow industrials rose 42 points, or 0.2%, to 21885 on Friday.

The S&P was only down 0.1 percent for the week entering the session.

At 10:34 a.m. ET (1434 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 70.95 points, or 0.47 percent, to 15,146.38. The Standard & Poor's 500 index dropped 1.4 percent to 2,438.21. Gold and bond prices were headed higher. The slide deepened after Trump's remarks on North Korea aired.

President Donald Trump's warning North Korea faced "fire and fury" and Pyongyang's response it was considering an attack on Guam drove investors out of stocks on Wednesday and into the safety of the yen, Swiss franc, gold and government debt.

Avis Budget Group slumped 9.9 percent after the vehicle rental company cut its guidance following a weak second quarter. The stock lost 78 cents to $3.93.

McCutchen leaves with sore left knee, Pirates beat Jays 4-2
This marks the second time Martin has hit the DL this year after missing time due to a nerve issue in his left shoulder in May. The two-run double gives Goins 40 runners in scoring position RBIs this season, tying him with Justin Smoak for the team lead.


SALES SLUMP: J.C. Penney sank 18.9 percent after the struggling department store chain reported quarterly results that fell short of Wall Street's expectations.

In other corporate results, a number of companies reported forecast-beating numbers.

Outside the political arena, declines in a pair of technology stocks added to the cautious tone on the day.

Data storage company Seagate Technology (STX) is posting a standout gain within the hardware sector, climbing by 2.1%.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks. The stock slid $9.41, or 5.7 percent, to $155.33.

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 worldwide oils, declined 20 cents to $51.70 per barrel in London. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet.

Daesh Claims Responsibility for Killing 2 US Soldiers in Iraq
Military "advisers" from several countries have also been aiding federal Iraqi forces on the frontlines. The authenticity of the statement could not be confirmed.


In other precious metals, silver was almost flat at $16.90 per ounce after hitting its highest since June 15 earlier in the session. Perrigo rose $2.17, or 2.8%, to $79.01.

German bond yields fell, gold and the Japanese yen surged and the leveraged bets on higher yielding currencies such as the Australian dollar took a beating.

Markets overseas were mixed Tuesday. Germany's DAX fared better, trading only 0.2 percent lower at 11,989.

Shares of Snap were down as much as 14.23 percent and hit an all-time low following a miss on revenue and daily active users.

"With European, U.S. and Asian markets all suffering heavily in anticipation of a potential conflict in Asia, it is worthwhile noting that we have heard similar posturing between Trump and Kim Jong Un before", said Mahony.

In Europe, Britain's FTSE 100 was down 1.1 percent to 7,306, while France's CAC 40 fell 1.1 percent to 5,058. South Korea's Kospi fell 0.2 percent.

Stocks slide on continued concern over tension between United States and North Korea
Significant strength was also visible among software stocks, as reflected by the 1.2% gain posted by the Dow Jones Software Index. It has weakened 1.9 percent against the dollar this week, making it the worst performer among global emerging-market currencies .


Like this: