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Stock markets lower, gold price continues to rise amid political tensions

13 August 2017

US 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 a year ago.

Stocks are opening lower on Wall Street as investors find little to like in the latest batch of corporate earnings. But for the week the S&P 500 lost 1.3 percent, its worst weekly showing since March.

The Dow Jones Industrial Average climbed 0.08% on Friday, Aug. 11, the S&P 500 gained 0.13%, and the Nasdaq added 0.64%.

Macy's shares closed down 10.2 percent and Kohl's fell nearly 6 percent as the companies continued to report a drop in quarterly same-store sales, stoking concerns that their turnarounds may still be a long way off.

Apple (AAPL.O) pared gains after rising as much as 1.91 percent to an all-time high and provided the biggest boost to all three indexes, while healthcare stocks such as Johnson & Johnson (JNJ.N) were the biggest weight on the S&P.

U.S. stocks deepened their losses following the latest Trump comments, and the S&P 500 volatility index, known unofficially as the "fear index", rose decisively.

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Bolt , anchoring the team, pulled up and fell to the ground in agony as there was no heartwarming ending to his athletics career. American veteran Dawn Harper Nelson was second, .04 seconds behind, and Pamela Dutiewicz of Germany took bronze in 12.72.

Gold miners Randgold Resources and Fresnillo were among the only gainers on the FTSE, up 1.9 to 2.3 percent as investors rushed to the safety of gold.

Strong results from Scout24 and Novo Nordisk lifted those shares, but the pan-European STOXX 600 extended early losses to fall 0.7 percent.

Priceline Group dropped 8 percent after issuing a profit forecast that was weaker than analysts were expecting.

Eight of the 11 major S&P sectors were lower, with the consumer discretionary index's 0.59 percent fall leading the decliners.

MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower.

Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control.

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He was later convicted of attempting to subvert the authoritarian regime of Kim Jong Un and sentenced to life in a labour camp. Jang Bae, tells The Canadian Press in an email that Lim "will be attending service this Sunday".

"There is a low probability that we will have a war with North Korea", he said, and a larger pullback in stocks is "a buyable drop".

The price of gold also surged for the second day in a row as the December bullion contract advanced US$10.80 to US$1,290.10 an ounce.

USA trading volume has been low with summer setting in and Congress expected to be in recess until September 5.

He said: "While the two monetary metals continue to trade mostly on real yield dynamics, some investors reacted to the escalating tension by buying these traditional safe-haven instruments".

The September crude contract was up 20 cents to US$49.76 per barrel and the September natural gas contract was up seven cents to US$2.95 per mmBTU. "That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group, New York.

Away from the geopolitical drama, USA inflation data is due at 1330 GMT. Copper rose 1 cent to $2.91 a pound. The euro strengthened to $1.1756 from $1.1752. Each fell at least 1.4%.

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Stock markets lower, gold price continues to rise amid political tensions