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prensaestatal.com Octubre 18, 2017


How major USA stock market indexes fared Wednesday

11 Agosto 2017, 02:56 | Dolorita Barahona

An exhibit at the Korean War Memorial Museum in Seoul

An exhibit at the Korean War Memorial Museum in Seoul

Losses in health care and consumer-focused companies pulled USA stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

Department store operator J.C. Penney (JCP) is also among the companies due to report their results before the start of trading on Friday.

Substantial weakness was also visible among internet stocks, as reflected by the 2.8 percent slump by the Dow Jones Internet Index.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks.

Pyongyang responded with threats to launch preemptive military strikes against the USA, including targeting the Pacific island territory of Guam. "If you think this is just rattling sabers, and it's just words, then you could view this as a buying opportunity". The Nasdaq composite lost 18 points, or 0.3 percent, to 6,352.

In other energy futures trading, wholesale gasoline dipped 1 cent to $1.62 a gallon.

Investors have enjoyed a global stock rally with few interruptions this year, something many have attributed to the improving health of USA companies and steady global economic growth.

Meanwhile, gold stocks bucked the downtrend, driving the NYSE Arca Gold Bugs Index up by 1.3 percent. All the indexes are down for the week.

The Dow is up 2,286.10 points, or 11.6 percent.

"We would now be careful with a whiff of risk aversion in the air and, by extension, also stay away from shorts in the rates market", RBC's global macro strategist Peter Schaffrik said.

Following Trump's remarks, North Korea on Wednesday said it was "carefully examining" plans for a missile attack on the U.S.

"Sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on him", a report by the North's state-run KCNA news agency said of Trump. That's the biggest increase since May. The S&P 500 and Dow were both coming off record highs.

Heading into Thursday, some 89 percent of the companies in the S&P 500 had reported quarterly results.

Priceline Group dropped 8 percent after issuing a profit forecast that was weaker than analysts were expecting. They outweighed gains in healthcare stocks and elsewhere.

Nvidia fell $7.37, or 4.3 percent, to $164.74, while Advanced Micro Devices gave up 71 cents, or 5.5 percent, to $12.12.

Spot gold added 1.3 percent to $1,277.15 an ounce.

Avis Budget Group slumped 9.9 percent after the auto rental company cut its guidance following a weak second quarter. Shares of Macy's lost 10%, and Kohl's fell 5.8%.

In Asia, South Korea's benchmark Kospi index fell 1.1%, and the Nikkei in Tokyo sank 1.3%.

Oil prices closed lower after an early rally faded. It added 39 cents to $49.56 a barrel overnight. USA gold futures gained 1.63 percent to $1,283.20 an ounce. Silver gained 20 cents, or 1.2 percent, to $17.07 an ounce. The September copper contract was down two cents to US$2.91 a pound.

Traditional safe-haven currencies including the Swiss franc and Japanese yen rose against the US dollar, while those from emerging markets slid. The euro rose to $1.1774 from $1.1752.

Retailers were also falling Thursday. Core prices had been expected to rise by 0.2 percent. The Shanghai Composite slipped 1.1 percent to 3,240.69. Australia bucked the trend with a 0.4% gain.



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