U.S. stocks inch higher on Friday

U.S. stocks inch higher on Friday

U.S. stocks inch higher on Friday

About 15 minutes into trading, the Dow Jones Industrial Average had dropped to 21,947.15, down 0.5 percent from Wednesday's close, falling back below the 22,000 mark it first broke through on August 2. The Shanghai Composite Index lost 0.4% to 3261.75 points.

While the Russell 2000 index ended up 0.1 percent on the day, it was more than 5 percent below its July 25 record and for the week it fell 2.7 percent, its biggest weekly drop since February a year ago.

North Korea seemed unfazed by the president's bluster, however, as state media carried a statement indicating the communist nation is "carefully examining" a plan to strike the U.S. Pacific territory of Guam. USA and British equivalents were also trading a touch above Wednesday's six-week lows.

USA stocks were lower on Wednesday as investors scurried to safe-haven assets after President Donald Trump's "fire and fury" warning to North Korea escalated tensions with the nuclear-armed nation.

HIGH ON TECH: Gains among chipmakers and digital storage companies helped lift technology-sector stocks.

US crude was down 0.9 percent at $48.16 per barrel, on track for a weekly loss of 2.9 percent. Bank of New York Mellon fell $1.56, or 2.9 percent, to $52.48, while Citizens Financial Group slid 86 cents, or 2.5 percent, to $34.17.

IN A SKID: Avis Budget Group slumped 6.8% to $31.13 after the vehicle rental company cut its guidance following a weak second quarter.

Most large-cap stocks were mixed across the board.

Travel website operator Priceline fell 7.92 percent, weighing the most on the S&P and the Nasdaq, following a disappointing forecast. Its shares tumbled $13.09 to $60.25. It soared over 2 percent in the previous two sessions, and is set for a weekly gain of 2.25 percent. On Thursday, fellow newly public company Blue Apron Holdings lost 18% after the meal-kit maker reported rising costs amid increased competition. The trend appeared to overshadow strong quarterly revenue growth in the quarter. October Brent crude fell $0.80, or 1.5%, to $51.90 a barrel. Economists had expected prices to rise by 0.2%.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.19 percent from 2.20 percent late Thursday. Oil also regained momentum as data pointed to declining US inventories.

The Dow is down 248.80 points, or 1.1 percent. Brent crude, the global standard, lost 28 cents to $52.09 a barrel in London. Twenty-First Century Fox gave up 46 cents, or 1.6 percent, to $27.57. The index closed 0.09% higher on Friday.

Silver was almost flat at $17.08 per ounce after hitting $17.24, its highest since June 14 in the previous session. The September copper contract was down two cents to US$2.91 a pound.

Currency traders consolidated positions in the Japanese yen and Swiss franc, and pushed up the dollar index by unwinding some of the recent big bets on the euro. Hong Kong's Hang Seng Index plunged by 2%, while South Korea's Kospi Index slumped by 1.7%. While the German DAX Index has edged down by 0.1%, the French CAC 40 Index and the UK's FTSE 100 Index are both down by 1%.

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