Futures lower as markets watch N.Korea

Futures lower as markets watch N.Korea

Futures lower as markets watch N.Korea

It has been more than a year since the last 5% downdraft in stocks and more than 76 weeks since the stock market suffered a 10% loss. "I think a few investors are in the process of surrender", one can read in a text to The canadian Press. Banks and retail chains were also among the big decliners. Utilities eked out a small gain.

Bank of Singapore investment strategist James Cheo noted that North Korea's provocations tend to have a limited impact on markets. They were at 2.201 percent early on Friday. Alliance Data Systems fell $6.28, or 2.7 percent, to $225.64.

In a note sent to clients late on Thursday, the USA bank predicted the single currency would rise to $1.25 in the first quarter of next year and reach parity with sterling for the first time.

Global benchmark Brent also fell 0.9 percent to $51.44, after Thursday's 1.5 percent drop. All the indexes are down for the week.

Stock markets around the world continued their downward slide after US President Donald Trump made another verbal attack on North Korea.

Now installed in the White House, Trump issued a new warning to Pyongyang on Friday, tweeting: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely". That's the biggest increase since May.

Tension between the two countries usually heightens around this time of the year as the U.S. conducts a series of military exercises jointly with South Korea, which the North views as direct intimidation - but nothing as bellicose as this. "This really is a profit-taking sell-off".

Heading into Thursday, some 89 percent of the companies in the S&P 500 had reported quarterly results. The umbrella financials group slipped 0.3 percent.

The greenback also came under pressure after New York Federal Reserve President William Dudley cautioned it would "take some time" for USA inflation to reach the bank's two percent target, the latest warning price pressures remain muted.

Disappointing company earnings and outlooks put traders in a selling mood.

Losses at the Snapchat parent ballooned to $443 million in the second quarter, a almost fourfold increase from the same period previous year. Its shares tumbled $11.35 to $61.99.

Overall, the healthcare sector slumped 3.4 percent. The stock fell $1.01 to $22.02. Oil prices were headed higher.

In oil, the price of Brent crude sunk by 0.5% to 51.65 USA dollars a barrel amid concerns about over supply in the market.

The pan-European FTSEurofirst 300 index lost 1.19 per cent. Natural gas was also flat at $2.98 per 1,000 cubic feet.

The market's backstop safety asset, gold, edged up to its latest two-month high of $1,288 an ounce.

Silver gained 47 cents, or 2.9 percent, to $16.86 an ounce. Apple was down 2.3 per cent, weighing most on the index.

The dollar fell to 109.85 yen from 110.48 yen late Tuesday. Humana rose $4.74, or 1.9 percent, to $254.96. Major indexes in Asia closed lower.

Sterling was last trading at $1.3013, up 0.30 percent on the day. The Nasdaq composite lost 76 points, or 1.2 percent, to 6,275. The FTSE 100 index of leading British shares declined 0.6 percent.

High-flying technology names suffered outsized losses on the day, with Apple falling 3.2 percent, Amazon 2.6 percent, and Facebook 2.2 percent. Australia's S&P/ASX 200 edged down almost 0.1 percent.

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