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techkenyot.com October 18, 2017


S&P falls 1.4 percent in safety flight on North Korea tensions

13 August 2017, 11:08 | Hattie Nash

Asian stocks lower as US, NKorea nuclear tensions rise

Financial Markets- US stocks close lower snapping Dow's 10-day winning streak

Asian stocks steadied and U.S. Treasury bond prices fell slightly on Thursday as the risk aversion triggered by tensions between the United States and North Korea began to settle.

Trump was responding to North Korea's claim it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific territory of Guam.

In New York, the Dow Jones industrial average fell 36.64 points to 22,048.70, the S&P 500 index inched down 0.90 of a point to 2,474.02 and the Nasdaq composite index lost 18.13 points to 6,352.33.

Oil prices steadied after slumping more than 1.5 percent overnight on oversupply concerns and the move lower on Wall Street, Reuters reported.

Japanese financial markets will be closed Friday for a national holiday.

Overwhelming Majority Of Americans Want Trump Impeached If He Fires Robert Mueller
Trump ousted Priebus last month, replacing him with former Homeland Security Secretary John Kelly as his new chief of staff. Manafort has consistently cooperated with law enforcement and other serious inquiries and did so on this occasion as well".

Stocks in London are seen opening lower on Friday as investors keep a wary eye on heated rhetoric between the United States and North Korea, while in corporate news Old Mutual reported a substantial rise in interim profit.

The greenback slipped 0.83 per cent to a near two-week low against the Swiss franc and fell to 110.11 yen, its lowest in almost two months against the Japanese currency.

In more back-and-forth between President Trump and North Korea, Pyongyang General Kim Rak Gyom, leader of the country's strategic forces, said that "sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on [Trump]".

In Hong Kong, shares ended lower, but developers provided support. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.

Until this week, the equity market had managed to shake off negative news, including previous saber-rattling over North Korea and failures in Washington to pass high-profile bills, such as repealing and replacing Obamacare. The S&P 500 fell 1% Thursday but is still up around 9% so far this year.

French leader urges calm in North Korea crisis
Trump dialed up the rhetoric early Friday, tweeting that the US military is "locked and loaded, should North Korea act unwisely". Trump's warning came after the North threatened to fire ballistic missiles over Japan towards the US Pacific island of Guam.

In European markets, the French CAC 40 was down 0.3% and Frankfurt's DAX 30 shed 0.8%.

Note: U.S crude inventories last week fell by -7.8m barrels, more than expected, but gasoline inventories rose unexpectedly. As well, producer prices in Japan rose 0.3% on month in July, a tick higher than the 0.2% gain seen and at a 2.6% gain on year, also beating expectations.

The US Consumer Price Index (CPI) edged up 0.1% last month after staying flat in June and falling by 0.1% in May.

Retailers slid after department stores Macy's and Kohl's both said same-store sales continued to decline in the second quarter.

Shares of Blue Apron Holdings fell 17% after it said it lost more money than analysts had expected in its first quarterly earnings report since going public in June.

Galapagos NV (GLPG) Position Increased by Eqis Capital Management Inc
The Company's activities are divided into two operating divisions: Research and Development (R & D) and Services. The stock of Galapagos NV (ADR) (NASDAQ: GLPG ) has "Buy" rating given on Friday, August 11 by Stifel Nicolaus.

The FTSE 100 firm announced in March past year that it would run its US-based asset management operation, its UK-based wealth unit, an emerging markets division and Nedbank in South Africa as separate businesses.



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