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techkenyot.com October 21, 2017


Tech companies lead broad slide in United States stocks; oil rises

13 August 2017, 02:45 | Hattie Nash

By Sruthi Shankar and Tanya Agrawal

By Sruthi Shankar and Tanya Agrawal

USA stocks rose Friday but were still on track for their biggest weekly loss in months, shaken by disappointing earnings results and an escalation of threats between the US and North Korea.

USA stocks closed lower for the third day in a row Thursday, led by declines in technology companies and banks, two of the highest-performing sectors over the past year.

Disney dropped 4.5 percent after reporting a weak quarter and saying it would pull its movies from Netflix and start two of its own video streaming services.

The Standard & Poor's 500 index lost 35.81 points, or 1.4 percent, to 2,438.21. The Nasdaq composite fell 45 points, or 0.7 percent, to 6,324. On the Nasdaq, 1,685 issues fell and 615 advanced favoring decliners. Biotech companies Celgene and Amgen lost 3.8 percent and 2.6 percent, respectively.

UNF faculty member & former UN Ambassador criticizes Trump's "fire and fury"
However, he added, a " limited pinpoint use of the latest kind of technology " by the United States can't be ruled out completely. However, if Washington chose to strike first and attempt to overthrow the government in Pyongyang, China will stop them.

Tokyo's blue-chip index tumbled 1.3 percent to its lowest close since late May after the Dow's winning streak of nine straight records ended following Trump's sharp rhetoric of "fire and fury", with the main European bourses also opening lower Wednesday. The company booked a hefty charge and said its CFO is leaving. The major index futures are now pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

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

TECH SLIDE: Losses among technology stocks led the market slide. Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent.

The Nasdaq is up 833.75 points, or 15.5 percent. South Korea's Kospi declined 1.7% Friday, putting its weekly drop at 3.2% - its largest since June 2016.

Lalit Modi Resigns, Bids Adieu To Cricket Administration For Now
Modi, who was not only the first chairman of the IPL , but is also said to be the father of the money spinning format of cricket. The Supreme Court has ticked him off too for his involvement in Indian cricket and has also asked him to stay away.

BONDS: Bond prices rose. Macy's sank 10.3 percent and Kohl's lost 5.8 percent.

In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents, to $1.65 a gallon, and natural gas rose 6 cents, to $2.88 per 1,000 cubic feet.

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 global oils, declined 20 cents to $51.70 per barrel in London. Brent crude, used to price worldwide oils, gained 56 cents, to $52.70, in London.

CURRENCIES: The dollar fell to 109.96 yen from 110.48 yen late Tuesday. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772.

Sanchez to miss start of season for Arsenal
Arsene Wenger believes the uncertainty about his future had a negative effect on his team's league campaign last season. Ramsey, [Mesut] Ozil, [Per] Mertesacker ... and of course [Laurent] Koscielny is suspended.



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