Saturday, 19 August, 2017

USA stocks snap 3-day losing streak in roller coaster week

Lucas Bell | 13 August, 2017, 01:08

Trump had told North Korea to not "make any more threats" to the USA or the country "will be met with fire and fury like the world has never seen".

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

Mattis said North Korea must stop isolating itself and "stand down" in its pursuit of nuclear weapons, and Pyongyang "should cease any consideration of actions that would lead to the end of its regime and the destruction of its people".

Investors are losing enthusiasm for Canada's banking stocks as a slowdown in the country's housing market dents banks' growth prospects, with insurance companies seen as a better bet to benefit from higher interest rates.

Michael Kors surged 21.5 per cent after reporting 80 cents per share in the quarter ending July 1, 18 United States cents above analyst expectations.

The S&P 500 has closed within 0.30% of its opening level in 16 of the last 17 days of trading.

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

Opioids crisis: Trump indicates he could soon declare state of emergency
But we've been checking around with various agencies, the White House, and they just don't quite know yet. The president could ask HHS Secretary Price to declare an emergency under the Public Health Service Act .

Police body cam footage shows Lowcountry officer being shot by suspect
Paramedics arrived on scene shortly afterwards and were able to save the officer's life despite the serious nature of his wounds. He told WJCL TV that he has nightmares about that day, but that he still hopes to return to work sometime early next year.

Facebook Watch Is Company's New Plan For Online Video
The Watch tab and a number of shows will start arriving on some US users' mobile, desktop, and Facebook's TV apps today. Facebook has limited the number of content creators who can take advantage of the program during a testing phase.

The recovery fit a recent pattern of investors using dips to put more money in stocks. Japan's Nikkei 225 Index tumbled by 1.3%, while Hong Kong's Hang Seng Index fell by 0.4%.

European shares were also lower following reports that a vehicle had rammed a group of soldiers in Paris, injuring six before speeding off in what officials identified as a suspected terrorist attack. The comments follow reports that the North has mastered a technology needed to strike the United States with a nuclear missile. The Dow is down 48.57 points or 0.2% at 22,036.77, the Nasdaq is down 20.93 points or 0.3% at 6,349.53 and the S&P 500 is down 3.18 points or 0.1% at 2,471.74. The Nasdaq composite fell 35 points, or 0.5 percent, to 6,336. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 5.5 basis points at 2.228%.

'Equity markets have behaved as you would expect by selling off sharply, an entirely predictable outcome at any time but more so when volatility levels are as low as they are, which now suggests that these moves lower have the potential to gather pace until the rhetoric gets dialled back'.

Unit labor costs had been expected to climb by 1.2% compared to the 2.2% jump that had been reported for the previous quarter.

The Dow slid as declines in shares of Apple and those of Goldman Sachs, recently down 2.3 percent and 1.7 percent respectively, outweighed gains in shares of McDonald's and those of Coca-Cola, recently up 1.4 percent and 0.5 percent respectively.

CURRENCY: The dollar declined to 109.79 yen from Tuesday's 110.34 yen. Netflix lost 1.5 per cent. The euro rose to $1.1812 from $1.1774.

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