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Stocks Make Comeback, but Haven't Fully Recovered From North Korea Selloff
12 Agosto 2017, 05:51 | Dolorita Barahona
S&P Dow hit record highs as Apple climbs
Traders work on the floor
The strong earnings season helped propel US stocks to record highs.
Analysts said media and entertainment stocks also seemed to get caught up in the broader market drop, but emphasized it was often hard to isolate reasons behind specific stocks' movements. The Dow slid also fell 0.2 percent, to 22,085.34. The CBOE Volatility Index, known as Wall Street's "fear gauge", rose to its highest level of the year.
Nevertheless, traditional safe havens jumped, with the benchmark 10-year USA note yield hitting its lowest level since June 28 and gold futures surging more than 1 percent.
The S&P 500 turned negative and hit a session low after Trump said North Korea "best not make any more threats to the United States". "You'll feel good about serving it for your family".
Japan said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programs as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.
"Refrigerated products are on the rise and we saw an opportunity to drive excitement in this section of the store with convenient soups and sides made with real ingredients and easy preparation", Nina Barton, SVP of Marketing, Innovation and Research & Development for the USA business at Kraft Heinz, said in the statement.
Nevsun Resources Ltd offset some of the material group's gains, plunging 16.4 per cent to C$2.75 after the company reported disappointing quarterly results.
Shares of Snap were off about 15 percent premarket following the social media company's earnings that came below estimates and a slew of price target cuts.
Kraft Heinz shares traded 0.1 percent stronger as of 2.07pm in NY.
The escalated talk of violence between the two countries simply provided an excuse for a selloff many investors consider overdue, some investors and analysts said. It usually moves opposite to stocks' movements and rises when the S&P 500 falls.
Emerging market stocks rose 0.29 percent.
"From a geopolitical perspective, we understand why the escalation in tensions will have shaken some of the complacency out of investors", said Eric Wiegand, senior portfolio manager at U.S. Bank Private Client Wealth Management.
The Dow rallied to another record high as well as the S&P 500 Index after the Labor Department said on Tuesday that job openings, a measure of labor demand, increased 461,000 to a seasonally adjusted 6.2 million, the highest level since the series started in December 2000. It slipped a bit Friday, but was still on track to end the week up more than 50%.
Markets had earlier stabilised as Tillerson tried to ease tensions, saying he did not believe there is "any imminent threat" to Guam, and expressed hope diplomacy would prevail.
Korea's Samsung Electronics fell 2.8% Friday. Chinese blue chips closed flat but Hong Kong's Hang Seng fell 0.4pc.
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I've always performed my duty with honesty, sincerity. "The whole process is still not fully known to me". Following speculations over his removal, he had said that he would step down as the CBFC Chief if asked.
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TSX slides as investors flee riskier assets; gold gains
Against that backdrop, Dudley might provide an upbeat outlook and confirm the Fed is on track for a rate hike, said Innes. After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.
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The comptroller's office said schools received about $244 million twice a month in state aid in fiscal 2017, which ended June 30. Claypool said the district has no immediate plans for selling bonds for capital needs. "They've all been part of the problem".